Documents Required for Education Loans

In an education loan, advances are made by financial organisations or banks to meet the students' expenses for their higher education. The meritorious students who have an excellent educational qualification are granted financial aid to study in notable institutes in India and abroad. 

Although banks or financial institutions have their own set of rules regarding the documents to be submitted along with the education loan application form, the following are the common documents that need to be submitted.

Students have to submit the following documents: 

1. Filled application form 
2. Two passport size photos of the Applicant and Co-Applicant
3. Admission Letter from the Institute on its letterhead and the address of the Institute
4. Cost break-up of the educational program provided by the Institute, such as defining the tuition fees- term-wise, year-wise and any other expenses involved
5. Student's academic record:

• 12th board mark sheet
• Certificates of graduation and post-graduation
• Mark sheet of some entrance exams taken by the student 
• Scholarship documents (if any)

6. Affidavit or Declaration which authenticates no loans have been availed from another bank or financial institution

1. ID Proofs such as: Passport, PAN card, Voter’s ID card, Driving License, Aadhaar Card, etc.
2. Address Proofs such as: Driving license, Ration card, Voter’s ID card, Passport, Aadhaar Card, etc.
3. Age proofs such as: Birth certificate or Class 10th certificate
4. Visa approval and travel papers 

If salaried, the documents required from the Co-applicant are:

1. Address proof
2. Identity proof
3. Salary slips of last 3 months or salary certificate on employer’s letterhead
4. Form 16 from the employer or last 2 years Income Tax returns
5. Any other income proof

If Self-employed (Professionals/Individual), the documents required from Co-Applicant are:

1. Address proof
2. Identity proof
3. Bank statements from the last 6 months
4. Last 2 years Income Tax Returns
5. Proof of office (such as lease deed, utility bill, the title deed)
6. Any other income proof

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