Saturday, September 13, 2008

Requirements for getting education loans

Age Limit for Graduation:
Age Limit for Graduation 28—30 years relaxable for SC/ST candidates
Documents Required:
.Completed Education Loan Application Form.
.Mark sheets of last qualifying examination
.Proof of admission scholarship, studentship etc
.Schedule of expenses for the specified course
.Two passport size photographs
.Borrower's Bank account statement for the last six months
.Income tax assessment order of last 2 years
.Brief statement of assets and liabilities of the Co-borrower
.Proof of Income (i.e. Salary slip/Form 16 etc)
Eligibility for Abroad Study:
A student is eligible for loan provided he/she is an Indian National, secured admission to Professional, technical courses of one of the identified educational institutions through Entrance Test, selection process. In case of education in the foreign University, institution (for which HO approval is required for its coverage under the Scheme), the student should have got necessary Passport, VISA formalities completed. Here are the expenses considered for loan: Fee payable to College, institute, hostel, examination, Library, Laboratory fee.Purchase of books, equipments,instruments, boarding and lodging expenses in Boarding Houses subject to production of Bills verified by the student borrower, travel Expenses/Passage money for studies abroad, purchase of computers - essential for completion of the Course, any other expense required to complete the course - like study tours, project work, thesis, etc.

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