The education loan eligibility is another matter to consider since not everyone gets their loan approved. Since these amounts are huge and are given to students, the security needed is also huge. Financial institutions will ask for your academic record as well as financial record to decide on your education loan eligibility.

2. Education has been given importance in our society for
years. Infact, India is home to Takshashila, the oldest known
educational institute. This importance has kept increasing
through the ages.
Especially, in recent times, with the growth in economy and
technology, education has become the vital tool for
success. This also means that the cost of education has
risen considerably.

3. However, the amount of loan you need for your higher
studies is not small. It can go upto 20 lakhs for an education
abroad and even higher for certain courses.
As much as these colleges abroad and in India are trying,
education has become incredibly expensive. Since this
amount is staggering, people look for financial help outside.
The answer to this has been easily available education
loans.

4. The education loan eligibility is another matter to consider
since not everyone gets their loan approved. Since these
amounts are huge and are given to students, the security
needed is also huge.
Financial institutions will ask for your academic record as
well as financial record to decide on your education loan
eligibility.

5.  The consistency in your grades will allow them to
consider you eligible as that shows that you will take
your education and the loan seriously.
 Not all courses are approved for a loan according to the
criteria for educational loan eligibility. There are certain
technical and business courses that ensure job
availability that are considered.
 Getting accepted in a reputed university means you will
get a good job. This increases your education loan
eligibility.

6. The last things needed are all the proper documents. Your
education loan will not be approved if any of these
documents are missing as your application will be
considered incomplete.
Even if your finances are ready, your application may get
rejected without these documents.
 Letter of admission from the university.
 Duly filled and signed loan application form by the
financial institute.
 Latest and coloured passport size photographs.

7.  Statement of detailed and calculated cost of study and
living expenses.
 PAN Card of student
 Pan card of parent/guardian
 Aadhar card of student
 Aadhar card of parent/guardian
 Proof of identity
 Proof of residence
Related Blog:-What are the overall education loan criteria?

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