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A to Z information about education loan, how to get it, which documents are required

education loan

Many times the university or college or institute in which you are going to take admission, they have a partnership with the bank. Therefore, students must collect this information before admission. This makes it easier for them to get an education loan and also lowers the interest rate.

Career Desk: Admission season has started. Enrollment in colleges and universities has started. The results of the entrance exam for admission in top universities, medical colleges and engineering institutions have also been released. In such a situation, many students easily submit fees for the dream of the country or abroad, but due to the costly education becoming expensive year after year, they are unable to collect the fees and either have to leave their studies or are unable to take admission in their favorite college. . In such a situation, if you are also facing financial problems in taking admission, then you can continue your studies by taking education loan. It is very beneficial and easy to take. Here in simple language, understand what is education loan and A To Z information about it.

What is education loan

If you do not have money for admission in graduation, post-graduation or professional course, then you can take education loan from bank or any private institute. It helps a lot in your further studies. In a way, it is a means of help. It is also called student loan.

There are four types of education loan
  • Career Education Loan- Loan taken for admission from government college
  • Professional Graduate Student Loan- Loan for studies after graduation
  • Parents Loan- When parents or guardian take loan for child’s education, it is called parent loan.
  • Undergraduate Loan- Loan taken for graduation after school.
Benefits of education loan
  • Students can complete their studies with the help of education loan
  • Get a good amount of time to repay the loan
  • Repayment of loan on time improves credit score and makes it easier to take further loan
  • The interest of education loan is very less as compared to other loans
Keep these things in mind before taking education loan
  • Take a loan from a good bank or institution only
  • Know about the education loan available from that bank or institution
  • Understand how much interest the bank is charging on education loan
  • Follow all bank rules
  • Proceed to take a loan only after understanding everything properly
Documents for Education Loan
  • Complete information about the course in which you are going to take admission
  • Income related documents of parents
  • age related documents
  • Address proof
  • ID proof
  • passport size photo
  • mark sheet
  • bank passbook
  • PAN and Aadhar card of parents and student

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