Unsure which loan works best for you?

Indian students above 18 years of age are eligible to apply for an education loan with #Finance-Ed. They must have a strong academic record and a good credit history.

Yes. #Finance-Ed will assist students who haven’t received their offer letter from their university. Education loan can also be applied at other stages of the application journey, such as after receiving an offer, after paying a deposit, or after getting their visa.

#Finance-Ed, an extension of Canam, does not charge any fees for the services offered.

To initiate a loan application, students are required to submit the following documents:

• KYC of the applicant and co-applicant
• Academic record and proof of work experience
• Financial documents of the co-applicant
• Applicant’s passport
• Letter of confirmation from the university

The loan application approval procedure is initiated by a lender once the student submits it with necessary documents. This procedure with a complete application form can take up to 72 hours

An education loan ranges from 10-12 years including course duration, moratorium period and repayment period.

All international education loans do not require collateral. Unsecured loans that offer up to a certain amount can be availed without mortgage.

Secured loans are offered at relatively lower interest rates for higher loan amounts. Unsecured loans are offered without collateral.

Education loans can be availed for up to Rs.2 crore. However, loan amount varies with factors like type of collateral, collateral value, student profile etc.

A co-applicant or co-signer is the family member or blood relative who applies for a loan with the primary applicant or student. He/she is liable to repay if the student is unable to do so.

In case of unsecured loans, offers are prepared based on multiple factors that include academic profile and institute the student seeks admission in. For a secured loan however, more factors are at play including collateral type and value. So each loan offer is majorly dependent on the student’s profile among other factors.

Most international education loans cover the cost of tuition with accommodation, examination, laboratory, insurance premium, refundable deposits, equipment and one-way travel expenses from/to the home country. The specific costs that each loan offer covers vary.

#Finance-Ed can help students get the most suitable loan deals and assist in applying to them. However, loans are sanctioned by the respective lending institutes and each loan application will go through the necessary stages before being sanctioned.