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Author :
Shilpa Nigam |
Are you financially stuck in gaining an education? Or do you want to upskill yourself without being a liability to your parents or guardians?
If the answer to these questions is yes, then you must opt for No-cost financing schemes run for students for a master's degree, such as distance MCA.
No-cost financing for students' education generally refers to educational schemes where you can pay educational expenses in installments without incurring an explicit interest charge.
If you are a student who is eager to pursue higher education, you can take an education loan. This loan grants financial aid to you for higher education and covers tuition and other forms of living expenses. These types of loans are offered by both public and private sector banks.
For online MCA course, no-cost EMI options or equated monthly installment facilities have been initiated by many universities to make this program affordable for any student.
Listed below are the top online MCA colleges in India, offering EMI or No-cost financing options with fees required for 2026.
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University Name |
Total Program Fee (Approx.) |
EMI/Financing Options |
Monthly EMI (Approx.) |
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INR 1,70,000 |
No-cost EMI available through financing partners or credit/debit card options. |
INR 7,083 (for 24 months) |
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Symbiosis School for Online and Digital Learning (SSODL) |
INR 1,40,000 |
Offers flexible EMI plans and installment options through financial partners or direct semester payments |
Starts at approx. ?5,000 (initial installment plan options available) |
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INR 1,20,000 (after student grant) |
No-cost EMI available. |
INR 5,000 (for 24 months) |
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INR 98,000 |
Flexible payment plans, including monthly installments through financing partners. |
INR 4,083, Maximum up to 24 months
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INR 1,60,000 - INR 2,40,000 (depending on specialization) |
No-cost EMI facility available via financing partners like Liquiloan. |
Starts at approx. INR 8,656 - INR 13,031 (for a 16-month tenure, depending on specialization) |
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Approx. INR 1,16,000 (total, based on per sem fee) |
No-Cost EMI available. |
Varies based on plan tenure and total fee. |
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Approx. INR 1,60,000 |
Offers flexible EMI plans as an option. |
Varies based on plan specifics. |
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Varies by program |
Flexible payment options and scholarships are offered. |
Varies based on plan specifics. |
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Varies by program |
Known for offering flexible payment structures. |
Varies based on plan specifics. |
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Vellore Institute of Technology (VIT) Online |
INR 1,40,000 to INR 1,60,000 |
The university supports EMI and installment payments through financial partners. Students can also pay semester-wise. |
Varies (Approx. INR 5,800 - INR 6,600 per month for a 24-month plan) |
To take advantage of the educational loan scheme in India, it is necessary for students to be Indian nationals and to have already secured admission in a recognized institution. In addition to the main applicant, lenders commonly require a co-applicant who has a stable job and meets a set income criterion. Furthermore, some higher loans might even ask for collateral. Generally, the loan amount is sanctioned for full-time vocational professional courses only.
Nationality: Must be an Indian citizen (some lenders allow OCI for study-abroad loans).
Academic Record: Minimum 50% marks in 10+2 or graduation is preferred.
Admission Confirmation: Mandatory offer/selection letter from a UGC/AICTE/Govt.-approved institution.
Course Type: Should be a full-time, job-oriented professional or technical program.
Co-applicant/Co-borrower: Parent/guardian/spouse with stable income and good credit profile is required.
Collateral Requirement:
Up to 7.5 lakh: No collateral needed; co-borrower is sufficient.
Above 7.5 lakh: Tangible collateral like property, FDs, or insurance policies is required.
India's Government has taken the initiative to create special education loans for the poorer and middle-class students so that they will not be constrained by economic factors to receive a good quality education.
Central Sector Interest Subsidy (CSIS): During the moratorium period (course duration plus one year), students from Economically Weaker Sections (EWS) (parents' income ≤ ?4.5 lakh) who are studying professional/technical courses at approved colleges will enjoy the total interest on loans paid for by the Government.
PM-Vidyalaxmi Scheme: An online platform that provides a seamless and user-friendly experience for all activities related to loan applications, including loan application submission, loan application follow-up, and access to loans that require no collateral and the Government's interest support for students from families with an income of up to ?8 lakh.
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