#1  
25th August 2015, 12:14 AM
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Can I get Education Loan for Paying Guest also if my college is not offering Hostel facility?


Dear Friends,
My college is not providing me Hostel facility and I am planning to stay like a Paying Guest. I am going to apply for an Education Loan. Kindly tell me the Bank will grant me Education Loan for this?





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  #2  
28th August 2015, 03:20 AM
aashisranjan784
Senior Member+++++
 
Join Date: Sep 2012
Posts: 7,908
Default Re: Can I get Education Loan for Paying Guest also if my college is not offering Hostel facility?

For getting education loan from any bank of India either it is public sector private a candidate has to submit a loan letter issued by institute in which you read and the loan letter contains the entire fee structure of whole course along with hostel fees if it is available in the college.

The bank only sanctions that amount which is mentioned in the loan letter if the candidate satisfy all the conditions and provides the required papers for sanction of Education loan.

So, no the bank will not finance you for the charges that will incur if you will live outside the college and if your college does not has accommodation facility.
  #3  
31st August 2015, 10:45 PM
namani suresh
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Join Date: Aug 2015
Posts: 45
Default Re: Can I get Education Loan for Paying Guest also if my college is not offering Hostel facility?

hi frnd
For getting education loan from any bank of India either it is public sector private a candidate has to submit a loan letter issued by institute in which you read and the loan letter contains the entire fee structure of whole course along with hostel fees if it is available in the college.

The bank only sanctions that amount which is mentioned in the loan letter if the candidate satisfy all the conditions and provides the required papers for sanction of Education loan.

So, no the bank will not finance you for the charges that will incur if you will live outside the college and if your college does not has accommodation facility.
  #4  
1st September 2015, 12:09 AM
ArunavaBasu
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Join Date: Mar 2015
Posts: 2,155
Default Re: Can I get Education Loan for Paying Guest also if my college is not offering Hostel facility?

I am sorry to say you this but no Bank will sanction your Loan expenditure for your stay as a Paying Guest.
If you are applying for an Educational Loan all the expenditure for the course will be sanctioned by the Bank as a Loan but it will not sanction you a Loan for your stay as a Paying Guest.
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  #5  
21st October 2021, 12:50 PM
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Default Re: Can I get Education Loan for Paying Guest also if my college is not offering Hostel facility?

letter form college to allow to not join the hostel to bank for education loan
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