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You are here: Home / Education Loan / Case study on Education Loan

Case study on Education Loan

case studyComplete Case study on Education Loan : Almost all private and public banks in India provide financial assistance to aspiring students to pursue higher education in India or abroad. This article focus on the initial process required in getting an education loan, yearly strategies and process and the repayment schedule.

Initial process of Study loan:

A student who wanted to pursue his/her higher education but cannot proceed so due to lack of money can opt for an education loan.  There are few eligibility criteria of study loan which the student should meet.  They are the student should be of Indian nationality and he/she should acquired admission in any institution which comes under norms of the corresponding bank.  The next step is to enquire for the details of education loan.

This can be done by visiting the bank directly in person or by visiting the bank website online.  Once the details are clearly understood the student should submit all the necessary documents asked by the bank.  Some of the details are admission proof, the fee structure from the institution, ID proof in the form of voter ID card, driving license, ration card, proof of residence, PAN card(if asked for) etc.  Once after the successful verification of the documents the loan amount will be sanctioned by the bank.

Related : Best bank for education Loan in India

Yearly strategies and process:

Almost all the expenses for the student during his/her higher education will be funded by the bank.  Some of the expenses which come under the coverage of education loan are college fee, hostel fee, travel fee, computer/laptop expenses if required, examination fee, equipment fee, education tour fee, project fee etc.  On yearly basis the student should submit the fee structure for the corresponding year and the Bonafide certificate issued by the college head ensuring that the person is the student of the corresponding college.

Related : How to approach a bank for education loan?

Repayment schedule for students loan:

The students are asked to repay amount after the moratorium period.  This period of time includes the course period along with 6 months to 1 year of time for the student to arrange for the job. There will be a concession in the interest if the student starts to repay the amount within the moratorium period.  The repayment schedule in almost all banks will be 5 to 7 years.  If the student is not able to repay the amount within the stipulated time then some banks may provide a grace period (another 2 year extension).  But this is not applicable to all banks.

Read this : Who can use Education Loan?

Filed Under: Education Loan Tagged With: Banks, Case study, Education loan, Students





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