There is no hidden fact that India has a huge number of students pursuing engineering as a career option as well as has the largest number of educational and infrastructural facilities for engineering students in the world. Few such institutes include IIT’s, NIT’s and many more where engineering students are provided with invaluable study experience and technical education infrastructure. Admissions to any of these institutes required a high level of dedication as well as sufficient funds in order to be eligible for one.
Most of the students self-fund their education by liquidating all their valuable assets. Instead of that, they can avail the option of funding their studies by taking an education loan for engineering.
This article aims to educate students on the types of education loan for engineering students in India and how you can apply for the same.
Let’s start with the types of education loans for engineering students.
There are generally two types of education loan for BTech students in India which includes:
These are the two types of education loans in India. If you happen to look for engineering student loans in India, then connect with our team at Vidyaloans. We help students to bag in unsecured education loans upto 7.5 lakhs from Governemnt banks to fund their higher studies.
Eligibility criteria set for BTech education loan is one of the prime requirements that a student is required to fulfill in order to be eligible for an education loan.
These are a few criteria set by the banks. This may differ from bank to bank. Therefore to know the latest eligibility set by the banks, connect with our team at Vidyaloans as they will be able to help you out. We guide you through the entire education loan process as well as will help you fill in all the required details on Vidyalakshmi Portal. So, connect with our team today.
To know further, read this article - Education Loan Eligibility Criteria
There are a few documents required for BTech education loan which is mandatory in order to avail an education loan. Few such documents which are required by the students are:
Few documents which are required by the co-applicant are:
These are some of the mandatory documents which are required to be produced by the applicant and the co-applicant in order to avail an education loan for engineering studies.
As mentioned, getting the right document is a significant aspect of an education loan process, but there are other documents like state specific documents which are asked by the bank managers at the last minute. This may delay your application process and may also lead to rejection of the same. To avoid such a situation, get in touch with our team today at Vidyaloans. Our processing officers will provide you with the latest checklist of documents where you will sufficient time to collect all the documents and submit accordingly. We ensure a hassle-free process throughout your education loan procedure. So, get in touch with our team to know further details.
Education loan is a support system for students where financial institutions lend money to the student to finish his/her higher education. So, an education loan will cover all the expenses that a student is likely to incur during his/her study period. The expenses covered under engineering student loans include:
Few times bank managers fail to include this while providing an education loan. This creates a lot of trouble for the students as well as the parents. Therefore to avoid such a situation, connect with our team at Vidyaloans as they will guide you through the entire education loan process. Get in touch to start your education loan process today.
VidyaLoans is an organization which helps Indian students secure a non-collateral loan from Government banks of up to 7.5 Lakhs. We have a dedicated team of professionals who assist students with queries and guide them throughout the loan process. Our Team at Vidyaloans is committed to sanction the best loan option suiting the applicant's profile and needs, in a stipulated time frame.
Reasons to process via Vidyaloans are:
About the organization: VidyaLoans is an organization which helps Indian students in India to secure a non-collateral loan from Government banks up to 7.5 Lakhs. We have a dedicated team of professionals who assist students with queries and guide them throughout the loan process. Our Team at Vidyaloans is committed to sanction the best loan option suiting the applicant's profile and needs, in a stipulated time frame.