Documents Required for Education Loan

Applying for an education loan involves submitting a set of essential documents to verify your academic background, course details, and financial eligibility. Whether you're planning to study in India or abroad, having the right paperwork ready ensures faster processing and approval. This section covers all the essential documents needed for an education loan, including identity proof, income details, admission confirmation, and collateral documents if required.

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Key Documents Checklist for Applying Education Loan

For quick reference, here’s a consolidated checklist of the documents you’ll need for your Education Loan Application.

Pro Tips:

• Prepare Early: Start organizing documents 2-3 months in advance.
• Double-Check: Ensure documents are valid, error-free, and formatted correctly.
• Stay Organized: Use digital and physical folders for easy access.

Proper documentation not only improves your chances of approval but also ensures a smooth application process. Read on for detailed steps and tips to finalize your education loan application.

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Documents Required for Education Loan

Lets have a detailed look at the documents required for an education loan. Make sure to organize and submit the necessary documents by category.

Personal ID and Address Proof

You'll need valid identification and proof of address. Accepted documents include:

• Aadhaar
• PAN
• Driving License
• Passport
• Voter's ID

If your current and permanent addresses don't match, provide additional proof like a recent utility bill, rental agreement, or bank statement.

Academic Records

Educational documents are a must. These typically include:

• Mark sheets and certificates for 10th and 12th grades
• Relevant academic transcripts and certificates
• College acceptance letter from the institution

Co-Applicant's Income Proof

Income proof requirements depend on whether your co-applicant is salaried or self-employed.

For Salaried Co-applicants:

• Salary slips for the last 3 months
• Form 16 or Income Tax Returns for the past 2-3 years
• Bank statements showing salary deposits for the last 6 months

For Self-Employed Co-applicants:

• Proof of business address
• TDS Certificate (Form 16A)
• Income Tax Returns for the last 2 years
• Professional qualification certificates (if applicable)
• Bank statements for the last 6 months

Next, ensure you gather any additional documents required for collateral or special cases to further strengthen your loan application. These will be covered in the following section.

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Education Loan Documents List PDF

To simplify your loan preparation, we’ve created a downloadable education loan documents list PDF. It includes all the essential documents you’ll need—personal ID, academic records, income proof, and special case requirements. Use it as a quick reference to ensure nothing is missed during your application.

Click here to download the Education Loan Documents List PDF

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What are the Documents Required for Abroad Education Loan?

If you're applying for an overseas education loan, you'll need to provide the following:

Planning to study overseas? Discover how Propelld supports international education through flexible loans: Education Loan for Studying Abroad – Everything You Need to Know.

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Documents Required for Self Employed Co-Applicant

For applicants with a co-applicant who is self-employed or owns a business, there are additional requirements.

Lenders will need these documents to evaluate the financial standing of a self-employed co-applicant:

Documents Required For Government Education Schemes

For those applying under government-backed schemes, specific documents are required. For instance, under the Arivu Education Loan Scheme in Karnataka, you’ll need:

• Caste/Community Certificate
• Income Certificate: Must show family income below INR 8 lakh per annum.
• Aadhaar Card
• Recent Photographs
• Admission Letters: For example, CET/NEET letters if applicable.
• Academic Mark Sheets
• Indemnity Bond
• Bank Account Details
• Institution's Fee Structure
• Declaration Forms

Loan amounts under these schemes vary depending on the course:

Learn how you can get 100% of your course fees covered with quick approvals in our step-by-step guide: How to Apply for an Education Loan with Propelld.

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Approval Based on Student Potential. Easy Education Loans from Propelld. Do Check your Eligibility.

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Documents Required For Collateral Education Loan

For secured education loans, collateral documents are essential as the loan amount is sanctioned based on the value of the asset provided. Below is a list of documents required for different types of collateral like property and liquid assets:

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State-Specific Documents Required for Education Loan

In India, property documentation requirements can differ across states due to variations in regional property laws. Below is a list of commonly required additional documents specific to certain states:

Note: These documents are in addition to the standard collateral documents. Always consult your loan provider or legal advisor to confirm the exact requirements based on your property's location.

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Documents Required After Education Loan Sanction

Once the loan has been sanctioned, a few more documents are required to formalize the loan agreement completely and to facilitate the disbursement process.

Here are the required documents: 

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Documents Required for Disbursement of Education Loan

Once your education loan is sanctioned, every disbursement—whether it's for a new semester or for additional expenses—requires proper documentation. These documents ensure that the funds are used appropriately and that the lender has all the necessary confirmations. Below is a breakdown of the documents typically required for disbursement:

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Education Loan Documents Submission Guide

 Submitting your documents correctly can speed up the approval process.

• Start preparing 2–3 months early—organize by category, scan in PDF format, and keep originals ready.
•  Check your lender’s document checklist and track your application online or via their app.

Document Checklist

Use this table to verify your documents before submission:

• Sign and date all photocopies for self-attestation. Ensure bank and income documents are not older than 3 months.
• Double-check the lender’s requirements and align your document submission with their 2–4 week processing timeline.

Tip: Want to skip collateral paperwork? Choose a No Collateral Education Loan for faster processing.

Next Steps

Once your documents are ready, follow these steps to complete your education loan process:

• Register with your lender online or at the nearest branch.
• Set up Standing Instruction (SI) or National Automated Clearing House (NACH) registration for automated repayment.
• Double-check fee details, signatures, and bank info before final submission.
• Submit the disbursement request with all required documents.
• Collect acknowledgment and note your loan officer’s contact.
• Stay in touch for updates and respond promptly to lender queries.
• For any questions, reach out to your bank's education loan helpdesk with your application reference number.

Need repayment tips? Check out our guide on education loan repayment rules.

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Flexible Criteria for Co- Applicant Eligibility. Check Propelld Education Loans.

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How to Improve Your Eligibility for an Education Loan

If you want to increase your chances of getting an education loan, there are a few things you can do. 

• Maintain a strong academic record: Consistent performance boosts your credibility.
• Score well in entrance exams: Higher scores improve chances, especially for competitive programs.
• Demonstrate a stable income source: A steady income, preferably from parents or co-borrowers, supports repayment assurance.
• Ensure confirmed admission: Proof of admission to a recognized institution is a must.
• Choose reputed or Tier-1 institutions: Lenders favor students admitted to top universities.
• Opt for high-employability courses: STEM, MBA, or other in-demand fields improve loan approval chances.
• Highlight post-study job potential: Share internships, placements, or career prospects to assure repayment.
• Improve your/co-borrower’s credit score: A CIBIL score of 700+ increases approval chances.
• Offer collateral or guarantor (if needed): Particularly for higher loan amounts or unsecured applications.
• Seek co-borrower support: A financially stable co-borrower strengthens the application.
• Maintain financial discipline: Timely bill payments and low liabilities reflect responsibility.
• Submit complete documentation: Ensure all academic, financial, ID, and collateral papers are in order.
• Choose lenders with flexible eligibility: NBFCs like Propelld offer mark-based approvals and easier documentation.

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See why more students are choosing Propelld over conventional lenders:

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Education Loans Made Easy – Why Propelld is Better than Banks

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Why Propelld?

Propelld offers easy and flexible education loans with quick approval and low interest rates. It provides customised repayment options, making higher education more accessible without financial stress.

The following are the primary benefits of Propelld.

Apply for education loan today!

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FAQs on Documents Required for Education Loan

Are Property Documents Required for an Education Loan?

Property documents are not typically required for education loans. These loans are usually unsecured, meaning no collateral is needed. Lenders assess repayment capacity based on income and credit history. 

Is ITR Required for an Education Loan?

While some lenders may request Income Tax Returns (ITR) as part of the documentation process, it's not universally required. However, having a stable income and good credit score can enhance loan approval chances.

What is the Necessity of Income Proof?

Having a stable income is crucial when applying for an education loan. Banks often require proof of income to assess the borrower's repayment capacity. Some banks offer education loans more easily than others, with less stringent income requirements.

Is a co-applicant mandatory for applying for an education loan?

No, a co-applicant is not mandatory for all education loans. However, having a co-applicant with a strong financial background can improve your chances of getting approved and potentially securing a better interest rate.

What happens after my loan is approved? What documents do I need to submit then?

After approval, you may need to submit additional documents like academic progress reports, disbursement request letters, and proof of previous semester fee payments (using the loan). For studying abroad, a copy of your visa and SWIFT advice might be required.

What are some tips to improve my chances of getting an education loan?

Maintaining a good academic record, gaining admission to reputable institutions, and demonstrating strong future employment prospects and a stable financial background can significantly improve your chances of securing an education loan.

What property documents are required for an education loan?

If you're applying for a secured education loan (with collateral), property documents such as the sale deed, property title, and latest property tax receipts may be required for verification.

What documents are required for an education loan from college?

When applying for an education loan through your college tie-up with a lender, you typically need admission proof, fee structure, academic records, identity/address proof, and income documents of the co-applicant.

Is a passport mandatory while processing an education loan?

A passport is not mandatory for all education loan applications, but it is often required if you're applying for an overseas education loan as it serves as a key identity and travel document.

Is proof of admission to the course required for an education loan?

Yes, proof of admission—such as an offer letter or admission confirmation from the university or college—is a mandatory document when applying for an education loan.

What documents are required for an education loan in India?

To apply for an education loan in India, you need identity proof, address proof, academic records, admission letter, fee structure, income proof of co-applicant, and collateral documents (if applicable).

What are the documents required for an education loan in SBI?

For an SBI education loan, you need the completed loan application form, passport-size photographs, academic mark sheets, admission letter, fee structure, KYC documents, income proof of parents/co-borrowers, and collateral papers (if needed).

What documents are required for an education loan in Axis Bank?

Axis Bank requires the admission letter, academic records, income proof, identity/address proof, passport-size photographs, and collateral documents for secured loans.

What are the documents required for an education loan in Canara Bank?

Canara Bank requires a completed application form, admission letter, academic documents, ID/address proof, co-applicant income proof, and collateral documents if applicable.

What documents are required for an education loan in HDFC Bank?

For HDFC Bank education loans, submit your admission offer letter, academic records, KYC documents, co-applicant income proof, and property papers for secured loans.

How many documents are required for an education loan?

Typically, around 8–10 documents are required, including ID/address proof, academic records, admission letter, fee structure, income documents, and collateral papers (if applicable).

What documents are required for an education loan without collateral?

You’ll need academic records, admission proof, fee structure, KYC documents, and strong income documents of the co-borrower. Some lenders may ask for a guarantor or future employability proof.

What documents are required for an education loan for abroad studies?

You need your passport, visa copy, admission letter, academic records, fee structure, co-borrower's financial documents, and possibly property papers for a secured loan.

What are the documents required for education loan under Vidya Lakshmi Portal?

You need to upload your academic documents, admission proof, co-applicant income proof, and identity/address documents while applying through the Vidya Lakshmi Portal.

What documents are required for an education loan for MBA?

The documents include your MBA admission letter, past academic mark sheets, identity/address proof, co-applicant income proof, and property documents (if applying for a secured loan).

What are the documents required for an education loan in Union Bank of India?

Union Bank asks for a filled application form, academic records, proof of admission, fee details, income proof of co-borrower, and property documents if needed.

Are property documents required for an education loan?

Property documents are only needed if you’re applying for a secured education loan where collateral is mandatory. For unsecured loans, you don’t need to submit property documents.

What documents are required from the college for an education loan?

You’ll need to provide a fee structure and an admission letter from the college as proof of enrolment and course details for your education loan application.

Is a passport mandatory while processing an education loan?

A passport is mandatory only if you're applying for an education loan to study abroad. For domestic studies, it's not a compulsory document.

Is proof of admission to the course required for an education loan?

Yes, proof of admission is essential for processing an education loan. It verifies your enrolment in the course and is usually provided as an admission letter from the institution.