Education and Career Forum

Can I get educational loan for the course of M.Com and how are and what are the eligibility criteria for the same?

Yes, you can get educational loan for M. Com.

Here are courses eligible for education loans in India: Undergraduate Degrees and Diplomas (BA, BCom, BE, BEd, BSc, BBA, MBBS, B Tech, LLB. and others) Postgraduate Degrees and Diplomas (MA, M Com, MSc, M Res, LLM, MFA, M Ed, M Phil, MBA, MD, and others)

The vital education loan eligibility criteria that the candidates need to fulfil to get approval for the loan are listed out here:

1- The candidate applying for the loan must be a resident of India.

2- He/she must have confirmed admission in recognised educational institutes in India or abroad.

3- The age of the candidate must fall within the bracket of 18 to 35 years during loan application.

4- He/she must be undergoing a graduate/postgraduate degree or a PG diploma.

5- The applicant should have a secured admission in a college or university affiliated by University Grants Commission (UGC)/All India Council for Technical Education (AICTE)/Govt. etc.

6- Students pursuing full-time courses need to have a co-applicant who can be either parent/guardian or spouse/parent-in-law (in case of married candidates).

Eligibility criteria for education loan

Those who want to apply for an education loan must have taken admission in any of UG/PG/diploma/technical course.

The institute in which admission has been taken must be a recognised institution.

Admission must be secured on the basis of entrance exam or merit.

Once the applicant receives the confirmation letter from college they can apply for loan.

Yes. You are eligible to get an education loan for doing the course of M.Com. But, the college should be under recognized university and you must have the following documents to get eligible for the education loan.

1) Mark sheets of latest academic qualifications.

2) Copy of admission letter of the Institute along with fees schedule.

3) Bank Statement or Pass Book of last 6 months

4) KYC documents

5) Identity proof like voter ID card, driving license, etc.

Candidates are eligible for an education loan for doing M.Com. To be qualified for an education loan, candidates must have the following documents.

1. Academic qualification mark sheets
2. A copy of the Institute's admission letter, as well as the cost schedule.
3. Last six months' bank statement or passbook
4. Know-Your-Customer (KYC) papers
5. Identification verification, such as a voter ID card or a driver's license.