Education and Career Forum

I want to know about the criteria to get the amount under Education Loan scheme of Andhra Bank for Boarding and Lodging. I want to know about the criteria for these two.

There is no special scheme for sanction of education loan for Boarding and Lodging for any candidate. If your college gives education loan letter which contains fee structure for tuition fees and hostel charges then only bank can sanction you education loan for tuition fee as well as boarding and lodging fees.

So, if you want to get education loan sanctioned for boarding and lodging, attach education loan letter which contains tuition fee as well as hostel fees. Other documents include your PAN card, qualifying exam scorecard, proof of identity and residence, IT return of parents. If sum of education loan to be sanctioned is more than 7.5 lacs then you need to submit collateral as well.

You can definitely get the boarding and lodging charges of your institute reimbursed/disbursed under education loan scheme. You need to show the proof of the charges by providing the bank fee letter or receipt letter from your institute in which you are pursuing the course. You need to write an application to the branch manager citing the expense attaching valid proof and request to disburse the concerned amount under education loan. If you have already paid it from your pocket, then you can request bank to reimburse it in your account.

If you can apply for an Education loan in Andhra Bank then, the hostel fee which includes your boarding and lodging expenses will be covered as a part of the education loan.

So, there is no need to apply for an education loan for boarding and lodging expenses separately. List of expenses covered by Andhra Bank under Education loan scheme are mentioned below :-

=> Tuition /Course / Hostel fee.
=> Examination/ Library/ Laboratory fee.
=> Caution deposit fee.
=> Amount required for purchase of books/ equipments/ instruments.
=> Any other expense required to complete the course.
=> Travel expenses for studies in Abroad.