Education Loans in India

Education loans are provided by most of the well renowned branches all over India, even in foreign countries too. The main aim of this education loan is to help the students who cannot afford such huge amount for their Graduate degrees. Some Banks also provide loans for reputed diploma courses. After availing loans, the students need not pay their tuition fees every time in Q – basis. The bank, which is offering the loan for the student, will directly pay for him. The loan can also be claimed for books and hostel fees if the student is financially challenged.

Nature of Education Loan: – Statistics say that, in India most of the banks are offering education loans from 7 – 8 lacs. Some banks offer education loans on semester basis. For the students who are moving abroad they are offerred loan amount of about 14 lacs. Education loan is not similar to any other loans. Here, there is so much of concession is given to the students who are availing for the same. The repayment of education loan starts only after one year of course completion. Such a beneficiary terms has been made by the banks for the progress of students. Students have to repay the principal amount and interest amount to the concerned bank. They can pay back to the bank by means of EMI basis or in full payment after they get the job within one year period.

Requirements of applying for education loan, For applying an Education loan in India, the students must submit the following documents. They have: -

  • Address proof
  • Photo ID proof
  • Recent Mark sheet
  • Tuition fee structure
  • Bank account statement
  • Recent photos of the student
  • College ID proof

The above proof structure varies depending upon their rules and norms.

For availing Education loan in abroad, all banks need guarantor for further process. The guarantor may be the student’s parents who also have to submit the documents like property copy, proof for income. If the loan exceeds above 5 lacs then the guarantor should show the similar property value of their own. Then only the concerned bank checks the details of the property whether it will cost as same as their amount. In education loans the main advantage is the interest rates which are mostly attractive. Their fixed and floating interest rates vary from bank to bank. Some premium institutes themselves know about the interest rates for education loans and choose the opt one and tie up with the concerned bank. Hence, the students need not worry about those things as the institute itself will arrange for it.

Under Section 80E, every individual can get the benefits of Income tax on Education loans. Thus, the tax breaks ups also given under Section 80 C for the benefit of students on their Education loans. Almost all of the public and private banks offer education loans for the students for the students’ progress and bright future. If the performance of student slows down, the loan availing bank will stop providing money to the concerned student.


Any Question ??? Post a comment!
  1. vijendra varma says:

    am i can a loan ?
    My 10th parcentage is 58% and 12th is 51%.
    But my b.tech 1st sem 64% and 2nd sem 62%.

  2. Brijnandan kumar says:

    Am i can a loan? My 10th 66.4% and 12th 58.2% i am read to b-tech for m .p i am 1st year student

  3. Kapil says:

    i want to study in abroad..(Ukrain)..my 10th % is 74 &12th % is 80..!! So please tell me is it possible to study there through loan…please tell me???

  4. Kapil says:

    kya mujhe loan mil sakta hai Abroad me study karne ke liye..please someone tell me..

  5. Kapil says:

    i want to study in Ukrain.. so please tell me is it possible to study there through loan.
    please……tell me!!!

  6. siya meena says:

    sir mujhe loan mil sakta hai i b tech 3rd year stu hu

  7. tapas duari says:

    my 10th class marks 77.5% and 12th 53.3% mara loan hoga sir

  8. randdhan says:

    sir….. Maine abhi electrical se diploma kiya hai or mujhe btech karne ke liye loan mil sakata hai….

  9. Sudama says:

    10th me 52.50% 12th me 61.60% B A 1year loan milega

  10. Rajendra Singh says:

    sir
    can i get a loan for the cource of SAP my 10th percent is 76.83 and 12 th percent is 72%. and what is process of loan paying.

  11. vipul kumar gupta says:

    i am diploma student .after diploma con admission in degree college. but my father has two loan . home loan and personal loan . kya musja loan milega. And how to pay.

  12. VIJAY RAJPUT says:

    MAINE DIPLOMA KIYA H OR MAI UK JANA CHATA HU.MUCHE LONE MILEG?OR KSE RETURN KRNA PDEGA..

  13. vinod tandon says:

    Sir i have 67% marks in 12th and 3rd year gape due to financial problem i could not read more.so i want loan

  14. Ankit Rai says:

    i want to study in abroad..(Ukrain)..my 10th % is 74 &12th %is 80..!! So please tell me is it possible to study there through loan…please tell me???

  15. sunil kumar says:

    I want loan.I am b.com 1st year student.My high school percent is 63.5% and intermediate percent is
    74.8% .Mai apna kuch kaam dalna chahta hu.isliye mujhe Rs.100000 ka loan chahiye .

  16. abujafar says:

    completed m.d med. want edu. loan for phd if possible how apply.

  17. charan says:

    My 10th marks is 86%,inter is 85%, i want to do hotel management can i get bank loan ?

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