How can I get an education loan to pursue B.Tech? What is the eligibility criteria for the same?

For education loan, firstly you need take admission in a recognized college and also you can check with the banks which have tie ups with the college for the loan as it will ease some problem in the approval of the loan. The requirement for loan is: 1. You will have to show the letter from your college or any document that verifies your admission to obtain the loan. 2. You would only get a loan if your college is approved by the UGC/ AICTE. 3. The education loan is generally given to candidates who have got admission after appearing in competitive entrance exams like AIEEE/IIT-JEE etc. 4. You must be of Indian origin. 5. Before applying for a loan, check out which bank is charging the lowest interest rate. Generally, the interest rates in PSU banks for education loan is cheaper in comparison to private banks. 6. You will require ID proof and address proof to obtain a loan. 7. The amount will not be given to you but the bank will make the cheque in favor of college after each semester. If your performance is poor like 5-6 backlogs, then the bank has every right to cancel future payments of your course. 8. You will need a co-signer for the loan. It could be your parents, guardian etc. 9. The co-signer would need to show his bank statement, IT returns. In case you are unable to make the repayment, it would have to be done by co-signer. 10. The repayment of the loan starts 1 year after completing graduation or 6 months after getting the job, whichever happens first. 12. The loan has to be repaid in 5 to 7 years.

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