Education Loan Eligibility in India
Are you standing at the crossroads of your educational aspirations and financial constraints? Does obtaining a student loan seem a good option but also a perplexing maze? Are you wondering where to start or what education loan eligibility is?

Education Loan Eligibility for Students
The foremost question that needs to be answered before jumping onto anything else would be whether you qualify for a student loan. You will have to meet several prerequisites before financing your further education with an outside source. Some of the primary points for education loan eligibility in india are as follows:
When we talk about eligibility, Propelld provides hassle-free education loans with easy documentation and flexible eligibility. For example, talking about co applicants, we consider not just parents but also grandparents and our parents’ siblings as co applicants. We do make every effort not to reject your loan.
Know the list of documents required to apply for an education loan.
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How to Know Your Eligibility for an Education Loan
Before applying, you can easily determine whether you qualify for an education loan from Propelld through a quick online eligibility check. Propelld simplifies the process by allowing students to check eligibility based on key criteria such as course type, institution, and co-applicant financials.
To get started, all you need to do is provide some essential background details—such as your academic profile, college admission status, and co-applicant information. Based on this data, Propelld evaluates your profile and displays loan offers that are personalized and easy to compare.
Once you find a suitable offer, you can proceed with the loan application process online and take advantage of special benefits and flexible repayment options designed to support students throughout their academic journey.
Procedure to Check Eligibility
Follow the steps below to check your eligibility for an education loan through Propelld:
Step 1: Visit the official Propelld website
Step 2: Navigate to the Education Loans section.
Step 3: Click on the Check Eligibility option
Step 4: Enter your academic details, course information, and co-applicant’s financial details
Step 5: Based on your inputs, Propelld will show you customized loan offers suited to your profile
Step 6: Choose the most suitable offer and apply for a Propelld education loan directly through their platform
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Education Loan Eligibility Calculator
After checking if you qualify for the education loan eligibility, the next step comes to calculate the EMI and repayment schedule to better plan your finances.
One of the easiest ways to do this is using an EMI Calculator.
Propelld’s Education Loan EMI Calculator is a user-friendly online tool designed to simplify the calculation of monthly payments for education loans. It provides a schedule that breaks down monthly payments into principal and interest components, helping borrowers understand their financial obligations better.
Let's take an example,
Suppose you take a loan with following details:
Loan Amount: ₹10 lakhs
Interest rate: 12%
Tenure: 10 years
As per the calculator, your monthly EMI would be approximately ₹14,500.
This calculation allows you to plan your finances effectively. This tool also accommodates various repayment scenarios, ensuring you have a clear picture of your loan journey.
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What Will Improve Your Eligibility for an Education Loan?
To ensure that students receive financial aid, banks are vigilant while evaluating a candidate's eligibility. The general academic standing of the applicants, their intended course of study, and their present admission status are taken into account before authorizing a loan.
- Scoring high grades/ranking in the qualifying exams
- Displaying good academic record
- Getting admission to a reputed/top-tier institute or university
- Strong financial background of parents/guardians/co-borrower
- Displaying good prospects for future employment/income generation
Got a low CIBIL Score? You can still get a loan. Know how to get an education loan with a low CIBIL Score.
Education Loan Eligibility: Documents Required
Here is a list of documents that you must submit if you are applying for an education loan:
Yes, documentation can be quite a hassle while taking an education loan. Know the complete list of documents required to secure an easy education loan.
Can you believe Propelld can process your loan in as low as 4 documents!
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Minimal Documentation. Higher Chances of Approval. Easy Online Processes. Check Your Eligibility.
Education Loan Eligibility for Top Bank
Given below are the education loan particulars of different banks.
Education Loan for Btech students can be a game changer in their studies as they don’t have to worry about finances and can just focus on studies. Check out the details in the blog.
Not with Propelld! Yes, You Don't Need a Collateral for an Education Loan with Propelld. Check Out Now!
Education Loan Eligibility without Collateral and Coapplicant
An education loan without collateral and a co-applicant provides a viable financing option for students who may not have significant assets or a suitable guarantor. These unsecured loans are designed for those seeking to pursue higher education, particularly abroad.
- Eligibility: Lenders typically evaluate the applicant’s academic performance, the course and institution's recognition, age, and financial stability, rather than requiring collateral or a co-signer.
- Benefits: Such loans eliminate the risk of asset loss and simplify the application process, empowering students to independently finance their education.
- Challenges: Applicants may face higher interest rates and potentially lower loan amounts due to the perceived risk by lenders.
- Application Tips: Research various lenders, prepare necessary documents, and highlight academic strengths in your application to improve your chances of approval.
How to Get an Education Loan After 12th?
Although you may be a student intending to secure an education loan after completing the 12th grade, there are several crucial factors you must understand. However, it's very easy to secure finances for your studies.
Lets see the major eligibility requirements for education loan after 12th:
Eligibility Criteria for Education Loan After 12th Class
Can You Get an Unsecured Education Loan After 12th Class?
Students can apply for an education loan to study in India or abroad after completing 12th class. You can get a maximum of 2 crores unsecured loan with an interest rate of 10.5 to 12.5%.
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Education loan by Government
The Government of India offers support to Indian students who want to pursue higher education. Students can get either a government education loan or help with the interest on loans they take from banks.
Here are 5 popular government education loan schemes, along with their major features and eligibility.
Apart from these popular student loans, you can explore the official websites of your state government. There you can get information about financial aid for students to study abroad.
Propelld: Offering Digital Solutions for Education Loans
Students usually face problems like not having a credit history, cumbersome procedural formalities, and delayed approvals in the offline loaning system. However, you can brush aside such botherations with the education loan process at Propelld, which is 100% digital and quicker than the conventional methods.
Get your loan disbursed in just 3 steps:
- Fill the Institute and Personal Details in the Online Application
- Hassle Free Digital KYC and Loan Approval by us.
- Loan Amount is Transferred Directly to the College
Why Propelld?
Benefits of Propelld Education Loan
Apply for an education loan today!