Education and Career Forum

I came to know that there are different requirements for different amount set for education loan in India. If I want to study BTech in Aeronautical Engineering with education loan then what I have to do? What are all the requirements?

To get an education loan for studying B.Tech Aeronautical Engineering course, you should have secured admission in B.Tech (Aeronautical Engineering) course in a recognised college/ university. You can get an education loan of upto Rs. 4 lakhs without any security, for getting an education loan of above Rs. 4 lakhs and less than Rs. 7.5 lakhs, satisfactory third-party guarantee should be provided to bank and for getting an education loan of above Rs. 7.5 lakhs, the collateral security documents equal to bank loan amount should be submitted to bank for processing your education loan.

Originally Posted by Unregistered

I came to know that there are different requirements for different amount set for education loan in India. If I want to study BTech in Aeronautical Engineering with education loan then what I have to do? What are all the requirements?

Students should have obtained admission to the BTech Aeronautical Engineering course through entrance test or merit based selection process to avail education loan. They should have scored very good marks in the 10+2 or equivalent examinations. Students should have obtained admission to the BTech Aeronautical Engineering in reputed colleges for getting education loan. Students should provide necessary security for the education loan. Most of the financial institutions offer education loan to students on the basis of their academic records, future employability of the course, type of course and college and collateral offered.

First of all you need to secure admission in a recognized engineering college. Then you can approach any reputed bank for education loan application.

You need to have a guarantor along with collateral security, to have any chance of getting your education loan approved.