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Documents required
November 19, 2008
Different banks have different document requirements for granting education loans. But here are some of the documents you will typically have to submit along with your loan application:
Mark sheets of the last qualifying examination
Proof of admission/ scholarship
Schedule of expenses for the specified course
Bank account statement for the last six months
An income tax assessment order for the previous two years
A brief statement of assets and liabilities of the co-borrower, which is usually the parent or guardian, and proof of income, if any
Some banks require all or any of the following as pre-sanction documents for an education loan. These should be furnished along with the completed application form. The relevant information of both the guardian and the student should be given when the student loan is jointly taken:
Mark sheets of the qualifying examinations for school and graduate studies in India
Proof of admission to the course
Schedule of expenses for the course
Copies of letters confirming scholarship
Copies of foreign exchange permits, if applicable
Passport-size photographs
Statement of the borrower's bank account for the past six months
Income-tax assessment order not more than two years old
Brief statement of the borrower's assets and liabilities
If you are not an existing bank customer, you will also need to give proof of identity and residence
Note: The specific list of documents varies from bank to bank.
Photograph: Dijeshwar Singh/ Saab Pictures | Image: Students filling-up their forms
Also see: Young Investor: Importance of Asset Allocation
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