20th June 2016, 01:23 PM
Posts: n/a

Does Bank Education Loan cover the living expenses where hostel facility is unavailable?

I would like to know that whether Banks also sanction Education Loan amount for living expenses if the college is not providing hostel facility? I am getting admission to such college where hostel is not available.

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22nd June 2016, 12:23 AM
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Does Bank Education Loan cover the living expenses where hostel facility is unavailable?

No, there will not be any additional expenses covered especially living expense covered if hostel facility is not provided or you do not opt for hostel facility, thereby, staying at your own facility. Only the expense which has been incurred by you in the form of payment to your institute or educational organization for the course will be covered in education loan. Expenses which are covered include tution fees of institute, institutional charges, hostel and mess fees, books cost, laptop cost and any other study related expense.
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