Affidavit for Education Loan (Updated 2025)
When applying for an education loan, lenders require certain legal documents to verify your intent, eligibility, and financial responsibility. One of the most important among them is the affidavit for education loan- a notarised declaration that confirms the authenticity of the details provided by the borrower, co-borrower, or guarantor.
This affidavit also serves as a formal commitment to repay the loan as per the agreed terms, helping lenders assess credibility and minimise risks. Whether
you’re applying for a domestic or study-abroad loan, understanding how an education loan affidavit works, its format, purpose, and supporting documents like a gap certificate can help you avoid delays and ensure a smooth approval process.
Let’s break down everything you need to know before preparing your affidavit.
What is an Affidavit for an Education Loan?
An affidavit for an education loan is a notarised legal document in which the borrower, co-borrower, or guarantor declares that the information provided to the lender is truthful and that they agree to repay the loan as per the stated terms and conditions. It is signed before an authorised official, usually a notary public or a first-class judicial magistrate, giving it legal validity.
Lenders rely on this affidavit to verify intent, establish financial accountability, and ensure that the loan is being taken strictly for education-related expenses. Because it carries legal weight, any false statement in the affidavit can lead to penalties, loan rejection, or charges of perjury.
In simple terms, an affidavit formally confirms your purpose for taking the education loan and your commitment to honour the repayment terms.
To elaborate further, lets check out the multiple purposes that an affidavit in education loan serves:
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What is the Purpose of an Affidavit in an Education Loan?
An affidavit for an education loan plays a crucial role in establishing the borrower’s credibility, intent, and financial accountability. It formally confirms that the loan will be used only for education-related expenses and that the borrower agrees to follow the lender’s terms and repayment policies.
This document helps lenders verify eligibility, assess financial honesty, and maintain transparency throughout the loan approval process.
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Types of Affidavits Required for an Education Loan
Depending on your loan type, academic background, and lender requirements, you may be asked to submit one or more affidavits. Each affidavit plays a specific role in verifying your intent, financial preparedness, and documentation accuracy.
Below are the most common affidavit types required for an education loan in India.
Submitting the correct affidavits upfront can speed up approval, reduce document queries, and improve your chances of getting the loan sanctioned without hurdles.
Lets see the usual format of Education Loan affidavit.
Format of Education Loan Affidavit
Here’s how a standard affidavit is structured so you can prepare yours correctly on the first attempt.
We, Sri/Smt. _______________________________________________________________, (1) Son/Daughter of _____________________________________________________(Name of Father), aged around ____________ years old.
(2)______________________________________ (Name of Son/Daughter) aged around _________ years old. The following is a solemn affirmation and statement made by the son/daughter of ____________________________________, both of whom reside at ________ _______________________________________________________________________ (Address)
1. That we, the aforementioned deponents, are permanent residents of the address mentioned above.
2. That, during the term ____________________, I, the deponent No. 2, have been chosen to enroll in and/or join the ______________________________________ _________________ course in the College/Institute ________________________________________.
3. That, in order to pursue the aforementioned course, neither of the deponents has taken out an education loan from a bank or any other financial institution.
4. That, individually and collectively, the deponents thus declare that we have never missed a loan payment.
5. That, as deponent No. 1, I now declare that I will reimburse the State Bank of India for any damages incurred in the event that a loan is approved for deponent No. 2, my biological ward.
6. That, in order for a study loan to be approved in the combined names of deponent No. 2 and deponent No. 1, this affidavit must be presented to the State Bank of India (Branch).
7. That, on behalf of deponent No. 2, we, the deponents, hereby certify that she is not getting any funding for this course from the organization or any other source, including scholarships or fellowships.
8. To the best of our knowledge and belief, the facts mentioned above are accurate.
Identified by me Parent/Daughter 1. _______________________________
Daughter/Son (Parent) 2. __________________________
Advocate, City
(Dependents)
SWORN BEFORE ME
1.___________________________
2. __________________________ (City) NOTARY PUBLIC
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Gap Certificate for Education Loan
A gap certificate (also known as a gap affidavit) is a legally valid, self-declared document drafted on non-judicial stamp paper. It explains and justifies any break, short or long, in a student’s academic timeline. This certificate assures the lender that the gap was due to legitimate reasons and that the student was not involved in any unlawful activities during that period.
Banks request a gap certificate to understand the student’s academic continuity and verify that the break will not impact course completion or loan repayment. The document includes the reason for the gap, such as health issues, work experience, financial constraints, exam drops, or personal circumstances, providing complete clarity to the lender.
Why Do Lenders Require a Gap Certificate?
A gap certificate helps banks:
- Validate the reason behind the academic break
- Assess the student’s seriousness and intent to continue education
- Strengthen documentation for loan approval
- Ensure the borrower meets eligibility and risk parameters
Gap Certificate Affidavit Format
Here is the usual format of a gap certificate:
I, (full name), living at (Residential Address)_______, the son/daughter of _______(Father/Mother/Guardian's Name), certify and affirm the following:
I live at the address given above.
I successfully finished (Degree/qualification)_ from________ (Name of the school, college, university, or institution attended)________ in (Month and year of passing).
Furthermore, I have not enrolled in or attended any other school, college, university, or establishment since I left because of _______ (explanation for the gap)________.
OR
I worked as a (position/designation) at _(Company Name) from _______ to _______ during this time.
The interval between ___________ and _________ was the gap.
I didn't engage in any unlawful or legally forbidden activities throughout the gap time.
No criminal case is currently underway against me in any legal jurisdiction.
The deponent's (student's) signature
Verification:
I thus attest that, to the best of my knowledge, the aforementioned statements are true and correct, and that I have not withheld any relevant information. I accept full responsibility for my admission being canceled in the event that the information I submitted turns out to be false in the future.
The deponent's (student's) signature
Date:
Location:
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Reddit FAQ: Common Questions on Gap Certificate & Education Loan Affidavits (r/CATpreparation)
Many students preparing for competitive exams, especially on r/CATpreparation, often share doubts about gap certificates and education loan affidavits. These discussions highlight genuine confusion around documentation, legality, and impact on loan approval. Below is one of the most commonly asked Reddit-style questions—answered with clarity and lender insights.
“Do I really need a gap certificate or an education loan affidavit? What if I had a long break—will it affect my loan approval?”
Answer:
Yes, if you have taken a break in your academic journey, whether a few months or several years, most banks will ask for a gap certificate. This is a simple self-declaration on stamp paper explaining the reason for your gap (health issues, exam drops, personal circumstances, work experience, financial reasons, etc.) while confirming that you were not involved in any unlawful activities during that time.
Similarly, an education loan affidavit may be required to confirm:
- your purpose for taking the loan,
- authenticity of the information submitted, and
- your commitment to repay as per the lender’s terms.
Banks evaluate these documents not as red flags, but as risk-assessment tools. A well-written gap certificate or affidavit does not harm your chances of approval. In fact, it strengthens your application by offering transparency.
An affidavit for an education loan is more than a formal submission, it is a credibility document that strengthens your application, supports lender due diligence, and speeds up approval. Whether you need a general affidavit, co-applicant declaration, or a gap certificate, preparing them accurately ensures a smooth loan experience.
If you want a faster, simpler, and fully digital education loan experience without endless affidavits and paperwork, Propelld offers a seamless alternative. With quick approvals, minimal documentation, no-collateral options, and 100% fee coverage, Propelld helps you focus on your education, not the paperwork.
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