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How to Use the Education Loan Eligibility Calculator
Financing your education can be challenging, but our Education Loan Eligibility Calculator simplifies the process. This tool helps you estimate the loan amount you may be eligible for based on key factors like academic performance, university tier, and co-applicant’s income.
Why Use This Calculator?
Before applying for an education loan, it’s essential to understand how much financial support you can receive. Instead of manually calculating loan eligibility, this tool provides instant results in just a few clicks.
Steps to Use the Education Loan Eligibility Calculator
Step 1: Select Your Academic Score Type
- Choose between Percentage or CGPA from the dropdown menu.
- If you have a CGPA, the calculator automatically converts it to a percentage using a standard multiplier (9.5).
Step 2: Enter Your Academic Performance
- If you selected Percentage, enter your overall percentage from 10th, 12th, or UG (whichever is applicable).
- If you selected CGPA, input your CGPA, and the system will convert it to a percentage.
Step 3: Select Your University Tier
- Choose the category that best represents your institution:
- Tier 1: Top-ranked universities (IIMs, IITs, Top 50 global universities).
- Tier 2: Well-reputed government and private colleges.
- Tier 3: General universities and other institutions.
Step 4: Enter Your Co-applicant’s Monthly Income
- Input the monthly income of your co-applicant (parent, guardian, or spouse).
- A higher co-applicant income may increase your eligible loan amount.
Step 5: Click ‘Check Eligibility’
- Once you’ve entered all the details, click the "Check Eligibility" button.
- The calculator will instantly display your estimated loan amount.
How Does the Calculator Work?
The estimated loan amount is based on:
- University Tier: Higher tiers allow for a bigger loan.
- Academic Performance: A percentage above 85% boosts eligibility.
- Co-applicant’s Income: Higher income may increase the loan limit.
Understanding Your Results
- The final amount displayed is an estimate based on input factors.
- While this tool gives you a general idea, final loan approval depends on the lender’s verification and additional financial checks.
Start Your Loan Estimation Now!
Use the Education Loan Eligibility Calculator today and take the first step toward financing your dream education.
Let us know in the comments if you have any questions, and feel free to share this tool with students who might find it useful!
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