What is an Educational Loan or the Student Loan?
In general terms, loan is a an agreement where the lender gives some money to the borrower and expects to repay it later with a reasonable interest rate added to it.
Hence, the word Educational Loan or the Student Loan can be defined as a agreement between an private or public concern in which the private concerns like banks provide the required amount to a student in the lowest interest rate compared to other loans and expects the students to repay it later. In general, the student must start repaying the loan once he completes the educational tenure.
Educational Loan or the Student Loan may be of any type like funds, rewards, scholarships, financing, private financial support and buying loan from the bank with Interest.
Why is an Educational Loan or the Student Loan required?
Educational Loan or the Student Loan is a bridge between ones career and the course he has to undertake. For those students, who are from the family background of financial crisis, the Educational Loan or the Student Loan is the best option.
Who can avail the Educational Loan or the Student Loan?
Before 3 years, availing a Educational Loan or the Student Loan was very difficult. I the student is lucky enough, he may get the Educational Loan or the Student Loan. Currently, the Educational Loan or the Student Loans are offered to all students who would like to avail the professional courses like BE/B Tech, MBBS, MBA, MS etc. Expense coverage includes tuition fee, book fee, hostel charges, travel expenses, and many more based on the type of loan one opts for.
How a Student can avail an Educational Loan or the Student Loan?
Most of the college students are eligible to receive the Educational Loan or the Student Loan. The loan amount may vary depending on the course they undertake, income of their parents and other financial considerations.
What are the documents required to avail an Educational Loan or the Student Loan?
In general, the student must a get admitted in a college or educational institution. Once he joins the college, he can get a letter of credit from the institution to apply for the Educational Loan or the Student Loan which is duly attested by the college principal or the corresponding authority.
He needs to get an a application form from the bank in which he like to avail an educations loan from. Along with the application form, he must provide the required documents as requested in the application form.
Once submitted, the application and the documents will be reviewed and the loan will be approved or disapproved under the soul discretion of the bank.
A student must produce the documents mentioned below for applying to Educational Loan or the Student Loan.
1) Mark sheet of last qualifying examination for school and graduate studies in India
2) Proof of admission to the course
3) Schedule of expenses for the course
4) Copies of letter confirming scholarship, etc.
5) Copies of foreign exchange permit, if applicable.
6) 2 passport size photographs
7) Statement of Bank account for the last six months of borrower.
8) Income tax assessment order not more than 2 years old
9) Brief statement of assets and liabilities of borrower.
10) If you are not an existing bank customer you would also need to establish your identity and give proof of residence.
What are the types of Educational Loan or the Student Loan?
There are several types of Educational Loan or the Student Loans. To name a few:
* Undergraduate loans
* Professional or graduate loans
* Career development Educational Loan or the Student Loans
* College parents loans
* loans
* Subsidized and unsubsidized Stafford loans
How repaying of an Educational Loan or the Student Loan works?
In general, repaying of Educational Loan or the Student Loan will include Course period + 1 year or 6 months after getting job, whichever is earlier. The repayment of loan period can be extended if required subject to the norms of the bank.
In general terms, loan is a an agreement where the lender gives some money to the borrower and expects to repay it later with a reasonable interest rate added to it.
Hence, the word Educational Loan or the Student Loan can be defined as a agreement between an private or public concern in which the private concerns like banks provide the required amount to a student in the lowest interest rate compared to other loans and expects the students to repay it later. In general, the student must start repaying the loan once he completes the educational tenure.
Educational Loan or the Student Loan may be of any type like funds, rewards, scholarships, financing, private financial support and buying loan from the bank with Interest.
Why is an Educational Loan or the Student Loan required?
Educational Loan or the Student Loan is a bridge between ones career and the course he has to undertake. For those students, who are from the family background of financial crisis, the Educational Loan or the Student Loan is the best option.
Who can avail the Educational Loan or the Student Loan?
Before 3 years, availing a Educational Loan or the Student Loan was very difficult. I the student is lucky enough, he may get the Educational Loan or the Student Loan. Currently, the Educational Loan or the Student Loans are offered to all students who would like to avail the professional courses like BE/B Tech, MBBS, MBA, MS etc. Expense coverage includes tuition fee, book fee, hostel charges, travel expenses, and many more based on the type of loan one opts for.
How a Student can avail an Educational Loan or the Student Loan?
Most of the college students are eligible to receive the Educational Loan or the Student Loan. The loan amount may vary depending on the course they undertake, income of their parents and other financial considerations.
What are the documents required to avail an Educational Loan or the Student Loan?
In general, the student must a get admitted in a college or educational institution. Once he joins the college, he can get a letter of credit from the institution to apply for the Educational Loan or the Student Loan which is duly attested by the college principal or the corresponding authority.
He needs to get an a application form from the bank in which he like to avail an educations loan from. Along with the application form, he must provide the required documents as requested in the application form.
Once submitted, the application and the documents will be reviewed and the loan will be approved or disapproved under the soul discretion of the bank.
A student must produce the documents mentioned below for applying to Educational Loan or the Student Loan.
1) Mark sheet of last qualifying examination for school and graduate studies in India
2) Proof of admission to the course
3) Schedule of expenses for the course
4) Copies of letter confirming scholarship, etc.
5) Copies of foreign exchange permit, if applicable.
6) 2 passport size photographs
7) Statement of Bank account for the last six months of borrower.
8) Income tax assessment order not more than 2 years old
9) Brief statement of assets and liabilities of borrower.
10) If you are not an existing bank customer you would also need to establish your identity and give proof of residence.
What are the types of Educational Loan or the Student Loan?
There are several types of Educational Loan or the Student Loans. To name a few:
* Undergraduate loans
* Professional or graduate loans
* Career development Educational Loan or the Student Loans
* College parents loans
* loans
* Subsidized and unsubsidized Stafford loans
How repaying of an Educational Loan or the Student Loan works?
In general, repaying of Educational Loan or the Student Loan will include Course period + 1 year or 6 months after getting job, whichever is earlier. The repayment of loan period can be extended if required subject to the norms of the bank.
