Documents required for education loan

Education loan provides opportunity to ambitious students to go abroad for higher studies when they cannot afford the tuition fee. Various financial institutions and banks provide student loans. The students need to submit a number of documents to avail the education loan. The major among them are listed in this article.

Supporting documents needed for education loan.

• A completed and signed application form

• Two passport size photographs applicant

• Photo id of the applicant. The applicant can submit one of the following

  a) Passport

  b) Pan card

  c) Voters ID card

  d) Driving license

  e) Employee ID (if working)

  f) Defence ID card

  g) Aadhar Card

  h) Photo ID issued by central or state government

  i) Bank passbook with photograph of the account attested by the bank

• Residence proof of the applicant

  a) Passport with address

  b) Driving license with address

  c) Bank statement with address

  d) Ration card (except Maharashtra)

  e) Aadhar card

  f) Telephone/ electricity/ water bill not older than three months

  g) Voters ID card

• Admission documents

  a) Printed admission offer letter from the university/institute. The letter must be on their letter head and must be signed by the authority

  b) I-20 form for students going to the US for higher studies

  c) Fee details of the institute/university

• Academic documents

  a) Mark sheets and certificates of Class 10 and Class 12

  b) Mark sheets and certificates of graduation (if the candidate is going for post graduate studies)

  c) Documents of scholarships (if the candidate obtained one)

  d) Documents of any entrance exam take- GRE, GMAT, IELTS, TOEFL

• Income proof of the applicant

  a) In case of a salaried employee:

  i. Salary certificate on employer’s letterhead or latest three month’s salary slip

  ii. Last two years’ Form 16 from the employer

  iii. Last two years’ Income Tax Returns

  iv. Any other valid income proof

  b) In case of self employed person

  i. Last two years’ Income Tax Returns

  ii. Last two years’ Certified Financial Statements or Provisional Financial Statements Duly Certified by CA

  iii. Proof of office

  iv. Any other valid income proof

• Income proof of the guarantor if the applicant is not employed. The same documents mentioned above are required for guarantor also

• Declaration/affidavit confirming that the candidate has not obtained any other loan from other banks.

The candidate must submit self attested copy of the above given documents to apply for education loan.

Also Read:

Top education loan providers in India to study abroad
Education loan to study abroad: Whom to approach?