How to Get Education Loan | Bank and Procedures

Before selecting the college, all you will be worried about is a job oriented course and then the college expenses. If one hasn’t prepared for the educational expenses, the only solution to look forward is education loan. How to get an education loan? What are the eligibilities and requirements for an education loan?

Procedures | How to Get Education Loan

How to Get Education Loan

You can avail an education loan from any public or nationalized bank that operates in your area. Private banks are also providing educational loans. The basic requirement is that after completing your higher secondary school education (+2) choose a better course of your choice that has job prospects in the future. As you select the course, it is equally important to choose the college. After joining the course, walk-in to the nearest bank and contact the bank manager for the instructions of how to get education loan and fill in the form that will be given to you.

Later, upon the bank’s intimation, you will have to submit the following documents to the bank:

  • Bona fide (which is the admission receipt from the college where you have joined)
  • Certificate from the college with details of entire fee structure of the course that you have selected.
  • Your higher secondary school (+2) mark list
  • An attested copy of you ration card as your address proof
  • Income certificate

    It would be advisable for the students who have completed their +2 to go to the nearest bank in your location during the holidays itself along with your parents and get the details from the bank manager about how to get an education loan which will simply the process later when you are joining the college.

    It is good, first to approach the bank where you are maintaining your savings account. It might take longer time to get your education loan from a bank where you don’t have an account or a bank that is unfamiliar to you. If you are in a smaller town or in sub-urban area, you can approach Ltd. banks for your education loan.

    These are all the common procedures to step in to take an education loan. However, it is always advisable to approach the bank manager of the concerned bank and get details and procedures of them on how to get education loan.