Requirements for an education loan?

[rhythmdivine.vg]

I'd like to know what the requirements are to avail an education loan from a bank.. What kind of documents etc.. are there any special conditions for the educational requirements ? like only college or higher education?

[lokesh05]

Many banks and institutions provide loan facility to students. you have to provide them with basic details like address proff etc. along with a proof of admission to a course for which you are availing loan.
also, if you are to study abroad (in other countries) you can avail the loan.
The interest rates are not too high for these loans.

[frankrhythm]

Originally Posted by lokesh05

Many banks and institutions provide loan facility to students. you have to provide them with basic details like address proff etc. along with a proof of admission to a course for which you are availing loan.
also, if you are to study abroad (in other countries) you can avail the loan.
The interest rates are not too high for these loans.

yes u are right and nowdays even they were giving many offer like that u can pay yr loans when yr job get fixed .u can simply watch out for this scheme and use it to your benefits...

[DianaR]

Originally Posted by rhythmdivine.vg

I'd like to know what the requirements are to avail an education loan from a bank.. What kind of documents etc.. are there any special conditions for the educational requirements ? like only college or higher education?

You must show proof that either your parents cannot pay for college or that you do not live with your parents, and hadn't done so for several years. You must prove that you cannot pay for college on your own or that you income falls under a preset threshold. You must be enrolled in a college on at least a halftime basis.

Other requirements depends on special circumstances recognized by the bank or your lender of last resort.

[chELsea]

Different banks has different requirements for education loan. You have to make the best choice,choose the best established and reputable bank on this kind of transaction.

These are the common documents that the bank will surely ask for:

-Proof of admission to the course
-Copies of the letter confirming scholarship, if any
-Two passport size picture
-Brief statement of the assets and liabilities of the borrower
-Proof of Residence

[maniak]

Last night my son got a letter about " admission approval " so he send overnight and pretty much they receive today and say you were acceptance to Yale school , you need to select one subject in order for us to approve your education loan permanent so he go to school and choose part time, and send those document by fax, we have receive inquire that is not enough that they need to work with a parents to resolve this issue! with is me .. as I financial former financial adviser I never meet with such as financial companies!

[pranith]

being a student i had gathered some information about the educational loan.
it needs the passport , your birth certificate .
i think if u have scholarship from any university it will be easy to get educational loan.