Education and Career Forum

Can anyone of you tell me what is the eligibility criteria, the bank has been set for the co-applicant under an Education Loan Scheme? I am eagerly want to take an Education Loan so that I can further study MBA. But I am totally unaware of co-applicant eligibility.

Originally Posted by Unregistered

Can anyone of you tell me what is the eligibility criteria, the bank has been set for the co-applicant under an Education Loan Scheme? I am eagerly want to take an Education Loan so that I can further study MBA. But I am totally unaware of co-applicant eligibility.

The applicant’s father or mother is mostly the co-applicant in education loans. The salaried individuals are treated as co-applicant. They should be working in state or central government or private or public sector undertakings etc. The minimum age of the co-applicant should be 21 years and the maximum age at the time of loan maturity should be less than 60 years. The co-applicant should have good employment record with minimum 2 years in employment and at least 1 year in the current organization.