Education and Career Forum

My relative has just finished her M.Phil degree and her age is 35. Now i am seeking admission in ph.d. She wants to get educational loan for this. So tell me how should she approach for that?

Now a days money is not a problem in the education. You can apply for the education loan to continue your study.

You can apply for the education loan for studying in India as well as in Foreign.

Here is the some important documents that you will need to be submit at the time of sanctioning education loan :

** Income Proof-Any either salary slip/other

** Residency proof

** Last 6 months of Bank account balance sheet

** Latest 2 passport Photo graphs

** Admissions proof in college

** Passport/Visa

** Complete fee structure issued by your institute.

After submitting all the above documents and completing other bank formalities you will be issued with a draft of your complete fee as per your fee structure.

For your kind information i want to tell you that you will not get cash payment from the bank for your education loan. Bank will issue draft to the institute's account. So my suggestion to you is that you should provide correct bank account details on your institute's account.

Procedure to take education loan :-

- First of all, she has to get admission call from a recognized university.
- Get the prospectus and then approach the bank.
- Have a discussion with the branch manager concerning the loan.
- Show him/her the prospectus and get to know the terms and conditions in detail.
- If satisfied with the discussion and if positive response from the bank, go ahead with the loan formalities.
- If not, then approach other bank.

Yes she can get an Educational Loan for this.
She needs to go the nearest branch of the bank where she wants to take the Educational Loan from.
She needs to provide the Letter of Admission as the document to the Bank.
She needs to show a guarantor with his IT Return for the last Financial Year.
Once she has all this in place her loan will be sanctioned by the Bank.