Education and Career Forum

Hello friends, I have a doubt regarding education loan. I am studying BTech in Odisha. I want to do MTech program in Karnataka. For this I want to apply for education loan. But, my question is, I will get hostel facility also under education loan?

You can apply for the education loan to fulfill your fund requirements towards the hostel fee. Bank will sanction education load against the fee structure issued by the institute. The fee structure must be duly stamped and signed by the concerned authority of the institute, only then the bank will approve the education loan.
In nutshell, hostel fee can be included in education loan.

Yes, the hostel expenses also will be covered under education loan offered by bank. Candidates who have secured admission to higher education course in a recognised college/ university are eligible to apply for an education loan. You need to submit documents like address proof, income proof, identity proof, admission proof, etc.,. to bank for processing your education loan.

Normally, banks provides education loan for the following expenses related to the course and it's same for everyone who is studying anywhere.

- Fees payable to college/hostel

- Examination fee

- Library/laboratory fee

- Purchase of books/equipment

- Security Deposits

- Travel expenses are covered for those studying abroad