#1
January 23rd, 2016, 05:28 PM
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Student loans to study abroad
Hello sir my friend is going abroad for higher study so please provide me information about the loan criteria for student loan provided for higher studies.
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#2
January 24th, 2016, 10:31 AM
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Re: Student loans to study abroad
Education loan for India is available for students wanting to study in Indian colleges. Loan criteria You must keep in mind the following criteria: A co-applicant is a must (could be parents, a sibling or a spouse) For loans between Rs 4 – 7.5 lacs a third party guarantor is required Collateral needs to be provided for student loans above Rs 7.5 lacs Loan repayment commences 6 to 12 months after course completion If a student goes abroad, lender recovers the remainder from co-applicant Education loan for abroad usually cover Tuition fees Charges for examination, library, laboratory and hostel Cost of purchasing books, equipment, instruments and uniform Travel expenses for study abroad Caution money, refundable deposit, etc. Study tours, exchange programs and project work Documents Required Study Abroad Mark sheet for last qualifying examination for school and graduate studies in India Proof of admission to the course Schedule of expenses for the course Copy of letter confirming scholarship, if any Copy of Foreign Exchange permit ( if available) Two passport size photographs Statement of borrower’s bank account for last six months Income Tax assessment order not older than two years Brief statement of Borrowers Assets and Liabilities If not a customer of the lending bank provide proof of identity and residence |
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