What Expenses are covered by a Student Loan?
You can take a student loan to finance a range of expenses for your education, including:
- Fees payable to the college, school or hostel, including tuition fees.
- Examination, library and laboratory fees.
- Purchase of books, equipment, instruments and uniforms.
- Caution deposit, building fund, refundable deposit supported by the institution’s bills or receipts.
- Travel expenses for studies abroad.
- Buying computers essential for completion of the course.
- Any other expenses needed to complete the course, like study tours, project work and theses.
- Interestingly, State Bank of India loans also cover the cost of two-wheelers — up to Rs 50,000.