What Documents Are Required For an Education Loan?
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What Documents Are Required For an Education Loan?

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Raj Vimal
Study Abroad Expert
Updated on Mar 7, 2025 00:22 IST

Since education loan terms differ from one to another, required documents remain largely the same. The bank needs certain documents to make sure you are a genuine student and are going to study at a reputed university abroad. For education loans, banks require documents from both the student and any co-borrowers. Marksheets, ID proof and admission letter are some documents required for education loan.

required documents for education Loan

So you are planning to take out a student loan to study abroad? You must have the checklist of required documents for an education loan. As a lender, students have to submit some documents along with a student loan application. Banks and NBFCs verify these documents at the time of processing the study loan. Such documents are used to verify the authenticity of the applicants and collateral (if applicable).

Note that the majority of document requirements are the same for the top education loan providers in India, but your bank may ask for additional documents. Academic transcript, passport-size photographs, resident proof, and admission letter are some of the important documents required for an education loan.

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Documents Required for Education Loan Abroad 

Indian students applying for an education abroad will have to first complete and sign the loan application form. After that, the applicants will have to attach certain documents to justify their need for funds to study abroad. Following are the papers the applicants would need while submitting an application for a student education loan abroad: 








Residence Proof or ID Proof Documents

Applicants who are applying for education loans to study abroad will have to submit government-issued identification proofs, the acceptable documents are as follows: 

  • Two passport-sized photographs 
  • Photo ID proof 
  • Residence Proof 

Academic Documents for Student Loan

In order to have a background check of the applicant, the academic records will be checked and the documents that are required to be submitted are as follows: 







  • Admission letter/Offer letter/CAS
  • Score reports of:
    • ELP Test Scores of either IELTS or TOEFL
    • Standardised test scores of GMAT or GRE if applying for a postgraduate course 
    • ACT or SAT if applying for an undergraduate course (also if it is a part of the application process)
  • Copy of student visa (if applicable) 
  • Mark sheets of the tenth and twelfth board examinations 
  • Mark sheets of an undergraduate degree or any diploma/certificate 

Income Documents Required for Education Loan

The following income documents will be required by the bank offering an educational loan to a study abroad applicant: 

  • Break-up of the fee
  • The last three months' salary slip
  • Income tax return for the last two years
  • There are finance proofs required from students based on their guardian's occupation and they are as follows:
Financial Documents Required from Salaried Employees Financial Documents Required from Self-Employed Professionals
Recent salary slips of three months or Salary Certificates on Letterhead Proof of office (like a lease deed, utility bills, a title deed, etc)
Previous two year's Form 16 from the employer or last two year's income tax Last two years' income tax return statements
Income proofs apart from the above-mentioned documents Certified financial statements or provisional financial statements certified by a CA

Collateral Documents Required for Education Loan

In case the applicant or co-applicant wishes to submit collateral property papers, they can submit the following proofs:

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  • Land registrar's details about extracts of agricultural land
  • Latest property tax bills
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  • Approved building plan
  • Encumbrance certificates 

Applicants should note that no bank either private or public requires original copies of the supporting documents that are to be submitted. The applicants just need to submit their copies and they should be signed and should also be self-attested by the applicant.

Before applying for an education loan, applicants should check Public v/s Private Education Loan Providers and then make their choice accordingly. Also, ensure that they are eligible to apply for a loan to study abroad. Those Indian Banks Offering Education Loans for Studying Abroad with lower interest rates should be considered as well. 

Useful Reads

Government Education Loan Scheme Best Time to Think about Finances to Study Abroad Best Education Loan Providers
Education Loan Eligibility Criteria Student Loan Vs Self-Finance Vidya Lakshmi Portal

Note: Students, who wish to study abroad, may get in touch with India’s top-rated loan providers and apply for an education loan through Shiksha Study Abroad.

Q:   Which are the documents required for an education loan?
A:

Here is the list of all the documents required for an Education loan application in India to study abroad:

  • Application form for education loan
  • Address or ID proof such as  Passport, Aadhaar card, driving license
  • Passport-size photographs
  • Admission letter from a foreign university
  • English proficiency test score (Banks may ask)
  • Income Proof: Income tax returns, salary slips, or other income proof of the student or co-applicant
Q:   What is proof of income in an education loan?
A:

Here is the list of financial documents required to apply for the loan:

For Salaried Applicants or Co-applicants

  • Salary slips (last 3–6 months)
  • Bank statements (last 6–12 months)
  • Income Tax Returns (ITR) or Form 16 (last 2–3 years)
  • Employment verification letter

For Self Employed Applicants or Co-applicants

  • Business financial statements (Profit & Loss statement, Balance Sheet)
  • Bank statements (last 6–12 months)
  • ITR filings (last 2–3 years)
  • GST returns or business registration documents
Q:   How can I apply for education loan online?
A:

Yes, you can easily apply for a student loan from the official websites of banks. Also, you can use Vidyalakshmi portal to apply to multiple banks at the same time. 

Another option is to visit the nearest branch of your preferred bank and apply directly.

Q:   Is MIT costly for Indians?
A:

MIT is not costly for Indian students. Applicants can study BTech program at affordable tuition fees as compared to other BTech colleges in the USA. The MIT BTech fees is around INR 50 L to INR 52 L.

Q:   Is New Zealand good for Indian students?
A:

With a good educational system, excellent quality of life, and a number of research opportunities, New Zealand offers a lot to international students. Auckland, the largest city in New Zealand has a 39 percent population of overseas citizens, making it a culturally diverse city. Moreover, the post-study work visa in New Zealand can offer up to three years of stay back. As per Stats New Zealand, its unemployment rate is 3.4 percent. Students enrolled in a course of 12 months or more can also work part-time in New Zealand for up to 20 hours a week during the semester and holidays.

Q:   What is the acceptance rate for VCC in Canada?
A:

Vancouver Community College is a premier and one of the oldest community colleges in Canada. VCC does not officially publish data on the acceptance rate. However as per some unofficial sources, Vancouver Community College acceptance rate ranges between 50% - 75%. VCC is one of the most sought-after and popular college among international students. Please note, that the data on acceptance rate given above is taken from an unofficial source, therefore, it is subject to vary. 

Q:   Does the University of Essex require IELTS?
A:

International students whose native language is not English must meet the University of Essex English language requirements to get admission. The university accepts IELTS scores as proof of English language proficiency. Mentioned below are the IELTS scores required for UG and PG admission at the university:

English Language Test

 Score

IELTS

Overall score of 5.5 to 8.0 with minimum of 5.5 to 7.5 in each section

The university also accepts the score of other English language tests such as TOEFL and PTE for admission to undergraduate and graduate programs:

English Language Test

 Score

TOEFL iBT

Overall score of 72 to 114

PTE

Overall score of 59 to 84 with minimum of 59 to 80 in each section

Also read: Required IELTS Score for UK Universities

Q:   How do I get into California Institute of the Arts?
A:

International students must apply online through the official website to get admission into California Institute of the Arts. They must meet the entry requirements of the programme and submit an online application by the deadline for admission at the institute. Applicants must create an account to start the California Institute of the Arts admission proess. Mentioned below are basic application requirements for international students:

  • An online application and a non-refundable application fee of USD 85 or INR 7,410.64
  • Personal essay
  • High school and/or university transcripts
  • Two letters of recommendation
  • Portfolio 
  • Statement of purpose
  • Proof of English proficiency
About the Author
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Written by
Raj Vimal
Study Abroad Expert

Raj Vimal has experience of 7+ years in SEO Content Writing, which includes 5+ years in the Ed-Tech industry. He has written articles about studying abroad, especially in the USA, UK, and other English-speaking coun... Read Full Bio

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Comments

(3)

M

Mahbubur Rahman

4 years ago

Ducoment pan card hslc passed crteficet hs registration certificate

Reply to Mahbubur Rahman

P

Piyush Kohli

4 years ago

Hi Mahbubur Rahman, all the documents required for getting a student loan are mentioned in the above article.

M

Mahbubur Rahman

4 years ago

My dear sir I'm students of class 12 for I'm money is very important I'm a little of bessnis standing

Reply to Mahbubur Rahman

5 years ago

Requirements for educational loan for higher studies abroad?

Reply to