Education Loan

An Education Loan helps students finance higher education in India or abroad without putting financial pressure on their families. The loan can be used to cover tuition fees, admission charges, hostel expenses, books, study materials, examination fees and other educational expenses approved by the lending institution.

PraFintech assists students throughout the loan process, from application and document verification to bank coordination and loan sanction. We help you prepare the required documents, complete the application correctly and communicate with participating banks or financial institutions for a smoother loan approval process.

Loan Highlights

Loan Purpose: Covers higher education in India and abroad.
Expenses Covered: Tuition fees, hostel fees, books, study materials and other approved educational expenses.
Co-Applicant: Parent or guardian generally acts as the co-applicant.
Study Location: Loans available for education in India as well as abroad.
Flexible Repayment: Repayment generally begins after completion of the course and applicable moratorium period.
Multiple Banks: Available through eligible banks and financial institutions.

Educational Expenses Covered

Expense	Coverage
Tuition Fees	Course tuition fee charged by the institution.
Admission / Registration Fees	Admission and registration related charges.
Hostel / Accommodation	Hostel or approved accommodation expenses.
Books & Study Material	Books, study materials and essential academic requirements.
Exam & Library Fees	Examination, library and other approved academic charges.

The eligible expenses may vary depending on the bank, educational institution, course and applicable lending guidelines.

Required Documents

Student Documents

Aadhaar Card
PAN Card
Educational Certificates & Mark Sheets
Admission / Offer Letter
College / University Details
Course & Fee Structure
Passport (For Study Abroad, if applicable)

Co-Applicant Documents

Aadhaar Card & PAN Card
Bank Statement
Salary Slip / Income Proof / ITR (as applicable)
Address Proof
Passport Size Photograph

Note: Additional documents such as scholarship details, entrance examination scorecards, collateral documents or other supporting records may be required depending on the loan amount, educational institution and the lending bank's policy.

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