Education and Career Forum

Sir, I want to study MS from USA after Mechanical Engineering so, I want to know can I get education loan before admission? How to avail education loan from SBI?

No, it is not possible to get an education loan before securing admission. To be eligible to apply for an education loan, you should have secured admission in any course in a Government recognised college/ university. To avail an education loan from SBI, you have to apply for an education loan directly by visiting the bank or through the respective bank official website by submitting the documents like Admission Letter, ID Proof, Income Proof, Address Proof, etc., to bank for processing your education loan. After submitting all the documents, the bank will verify your documents and if found correct, you will be offered an education loan for pursuing your MS course in USA.

Sorry, to say that it is not possible to get an education loan before securing admission. You are eligible to apply for an education loan only if you have secured admission in any course in a recognised college/ university. Once, you receive the admission letter from the college/ university, you can visit the bank and apply for an education loan by submitting the relevant documents. Once, you submit all the documents, the bank needs to verify them and if they are ok with the documentation, your education loan will be sanctioned within 10-15 working days.

Sorry, but SBI do not provide any education loan before admission. If you want to avail education loan from SBI then you have to first get admission in institute in which you are interested.

Eligibility criteria for education loan from SBI:-

The candidate must be a citizen of India

The candidate must have obtained admission in any of the recognised universities in the world

The candidate must have obtained admission to one of the following courses:

Job oriented professional degree courses

Job oriented professional diploma courses

Job oriented technical degree courses

Courses conducted by CPA (Certified Public Accountant) in USA and CIMA (Chartered Institute of Management Accountants) – London

*Education loan before admission in any course in India or abroad is not possible because bank will not sanction education loan unless you have all details of college, education loan letter, fee structure and admission proof receipt.

*These are necessary documents considered for quick sanction of Education loan. After confirmation of admission, you can visit any branch of bank with necessary documents for sanction of loan. For loans above 7.5 lacs, collateral is necessary.

There is no provision in any bank to get education loan before confirmation of admission in any course in abroad. Bank does third party verification of abroad colleges before sanction of education loan.

You can approach State Bank of India for loan after admission in any college or university is confirmed.