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Education Loan in India

The boom in the banking sectors, made release of big funds and education loans. These loans are very easy to get from various banks in India.

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Education Loan in India

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  1. Education Loan in India

  2. Due to the cost of education in higher education in India, student loans in India, has became a very popular method for funding education. Due to the increase of higher education colleges in fields of engineering, management, medicine etc… there was the increase in the fees. Some years back quality higher education was not affordable to all the students. The boom in the banking sectors, made release of big funds and education loans. These loans are very easy to get from various banks in India.

  3. Many nationalized banks have come up with various educational loan schemes that students can benefit from. Even private banks are not lagging far behind. This scenario is certainly helping the illustrious students to pursue higher education and realize their dreams.

  4. An edu. loan covers cost of the college fee, hostel fee, examination fee, laboratory fee, library fee, and cost of books and stationery. Apart from this, any other expense required to complete the course can also be considered. The maximum amount of loan is up to Rs. 7.50 lakh in case of studies in India and Rs 15 lakhs for studying abroad. The sum of money offered is against a third-party guarantee

  5. The courses elgigble for loan are School education including plus 2 stage, Graduation courses, Post Graduation courses, Professional courses, Certificate courses, Courses like ICWA, CA, CFA etc, Courses conducted by IIM, IIT,IISc,XLRI,NIFT ETC, Courses offered in India by reputed foreign universities, Other courses leading to diploma /degree etc. conducted by colleges/universities approved by UGC /Govt. /AICTE /AIBMS /ICMR etc

  6. Normally there is no need for security upto Rs 2 Lakh, But above that, Collateral security equal to 100 % of the loan Amount is needed.

  7. The applicant should be with Indian nationality. • The applicant should have scored minimum 60% (50% for SC/STs) in the qualifying Examination for admission to graduation courses. • The applicant must have secured admission to a course, through entrance test/selection process • The applicant should be around 16-26 years of age or range specified by the bank. • The applicant should not be a minor. • The applicant should have a good academic background. • The applicant should have parents or guardians with stable income. • The applicant should have got admission in a recognized university/college in India or abroad.

  8. Documents Require • Copy of mark sheets/degree certificates of previous academic qualifications. • Proof of admission to the course • Schedule of expenses for the course • Copies of foreign exchange permit, if applicable • 2 passport size photographs • Details/statements of Bank accounts held by the student applicant/co-obligant(s)/guarantors (if any) for the last six months. • Copy of Passport/Visa, cost of air fare in case of studies abroad. • Statement of Bank account for the last six months of borrower/parents • Income proof/latest income tax return of parents/co-obligants, guarantors. • Passport size photo of the applicant and guarantors. • Attested copies of documents for proof of age/date of birth and proof of residential address.

  9. Click here to more information http://www.way2college.com/

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