Education Loan Documents
Different banks have different document requirements for granting education loans. But here are some of the documents you will typically have to submit along with your loan application:
1. Mark sheets of the last qualifying examination.
2. Proof of admission/ scholarship.
3. Schedule of expenses for the specified course.
4. Bank account statement for the last six months.
5. An income tax assessment order for the previous two years.
6. A brief statement of assets and liabilities of the co-borrower, which is usually the parent or guardian, and proof of income, if any.
Some banks require all or any of the following as pre-sanction documents for an education loan. These should be furnished along with the completed application form. The relevant information of both the guardian and the student should be given when the student loan is jointly taken:
1. Mark sheets of the qualifying examinations for school and graduate studies in India.
2. Proof of admission to the course.
3. Schedule of expenses for the course.
4. Copies of letters confirming scholarship, etc.
5. Copies of foreign exchange permits, if applicable.
6. Passport-size photographs.
7. Statement of the borrower’s bank account for the past six months.
8. Income-tax assessment order not more than two years old.
9. Brief statement of the borrower’s assets and liabilities.
10. If you are not an existing bank customer, you will also need to give proof of identity and residence.
Note: the specific list of documents varies from bank to bank.