The eligibility and documentation criteria for an education loan for France

1. The eligibility and documentation criteria for an education loan for France France is known for its food and perfumes. But not many know that it has a thriving higher educational culture as well. Education in France is fairly affordable than the rest of the western countries. So, if you want to set your foot in France for your education destination, many lenders are ready to help you. This article will give detail about the eligibility and documentation criteria for an education loan for France. To get a loan, you and the co-borrower would have to fulfil the following eligibility criteria: Student eligibility criteria The student must: 1. Be an Indian citizen. 2. Be above 18 years of age. If the student is not then the parents of the guardian would have to apply for a loan on the behalf of the student. 3. Display good academic performance. 4. Have an admission proof into a college approved by the lender. 5. Have applied for a course that is job-oriented. Co-borrower eligibility criteria

2. If a student has applied for a full-time course then he needs a co-borrower to get an education loan for France. A co-borrower in most cases, is either a parent or a guardian. The repayment of the loan lies on their shoulder if the student is unable to pay back the loan after completing his education. The co-borrower must: 1. Be an Indian citizen. 2. Have a reliable income source. 3. Have a good credit score. 4. Be either a parent or a guardian (Spouses of married people can be considered as co-borrowers as well) Once you have checkmarked all the eligibility criteria then comes the part of your and your co-borrower’s documents required for an education loan for France. Student documents required The student documents usually required are: 1. A filled loan application form. 2. Couple of passport-sized photographs. 3. Identity proof (AADHAR card/ PAN card/ Passport) 4. Residential proof (Electricity bill/ Gas bill/ Water supply bill) 5. Academic mark-sheets and certificates 6. Competitive exam mark-sheets (GRE/TOEFL/ GMAT) 7. Admission proof from the university approved by the lender 8. A log of potential expenses incurred while studying the course

3. Co-borrower documents required The co-borrower’s documents generally required are: 1. Couple of passport-sized photographs. 2. Identity proof (AADHAR card/ PAN card/ Passport) 3. Residential proof (Electricity bill/ Gas bill/ Water supply bill) 4. The details of the loans held presently by the co-borrower. If the co-borrower is a salaried employee then they need to submit these documents additionally: 1. Salary slip of last 3 months. 2. Income tax returns. 3. Salary account statements of the last 6 months. If the co-borrower is self-employed then they need to submit these documents additionally: 1. Qualification certificate (For instance, B.E certificate if the co-borrower is an engineer). 2. Address proof of the business office. 3. Income tax returns. 4. Bank account statement of last 6 months. Remember that some lenders may ask you additional documents while others may ask you fewer documents than the number mentioned here.

4. Additionally, we would like to note that French universities do not ask for proof of funds while you secure your admission. But you are usually asked to proof of funds when you get a visa for yourself. So, these are the requirements for an education loan for France. All the best for your higher studies! Related Article: - 4 mistakes to avoid while applying for a study loan