By Anshika Verma08, Nov 2023 04:00 PMjagranjosh.com
What is an education loan?
A sum of money borrowed to cover education costs is known as an education loan. The purpose is to help pay for living expenses throughout a borrower's time of study. Tap to read how to apply for it!
Identify the Bank or Financial Institution
Examine and locate the bank or other financial organisation that provides education loans. Student loans for higher education are offered by numerous banks in India.
Check Eligibility Criteria
The majority of banks have requirements for qualifying for education loans, including the course of study, and the minimum percentage of marks.
Know required documents
Your application for a student loan must be accompanied by particular documents, such as evidence of your name, address, enrollment in the institution.
Student Loan Application Form
Complete the application for a student loan. The application form is available in the bank branch or on the bank's website. Please ensure that the form is filled out fully and clearly.
Submit the Completed Application Form
Send the bank the completed application form together with the necessary paperwork. The documents can be turned in person at the bank branch or online at the bank.
Application in process
Await the bank processing your loan application. After reviewing your application, the bank will pay the loan to your institution so that it can be used to cover other costs like tuition.
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