Education Loan Assistance
Every year millions of students aspire to study abroad in top universities and colleges, which require a good financial backup. So some end up facing challenges to fulfil their dream of studying abroad. For such students, opting for education loans provides a relieving source to study abroad and to fulfil your overseas dream. Today, different financial institutions like Public and Private Sector Banks, NBFCs are coming forward to support students who aspire to study abroad with education loans. The education loans covers:
- Tuition and Education Fees
- Fees for the library, laboratory, and hostel
- Purchase of books, equipment, instruments, and uniform.
- Travel expenses.
- Caution money, refundable expenses, and so on.
The eligibility check for a study loan to abroad require:
- The applicant should be of Indian origin.
- Students aged between 18 and 35 are eligible to apply for the education loan.
- A confirmed admission to a foreign institution is a prerequisite.
- A strong academic record is required from the applicant.
- The loan application must include a co-borrower, such as parents or guardians, who will serve as a guarantor.
- In some cases, a collateral deposit may be necessary to secure the education loan.
- The applicant must be accompanied by a co-borrower, such as parents or guardians, throughout the application process.
Our team of experts at Noah Career Consultants, assist you with the process of education loans, acquisitions, documents required etc., Let’s look at the list of the documents needed to apply loan:
- Mark sheet from the latest qualifying examination.
- Proof of admission to the course.
- Expense schedule outlining the costs of the course.
- Copy of the scholarship confirmation letter (if applicable).
- Two passport-sized photos.
- Statement of the borrower’s bank account for the past six months.
- Income tax assessment order, not exceeding two years old.
- Summary detailing the borrower’s assets and liabilities.
Some of the top Financial Institutions that support overseas education include,
- State Bank of India
- Punjab National Bank
- Canara Bank
- Bank of Baroda
- ICICI Bank
