What are the important documents required to study abroad?

As a student, when you are planning for your higher studies, you would not want to leave any stone unturned. From getting good scores on your entrance exams to preparing a good application for admission, you will keep your focus on each and every step. However, one thing you cannot overlook is getting a loan. An education loan helps in taking care of major expenses while keeping your savings intact. When you apply for a loan, there are various documents that you need to provide to your lender in order to get the application approved. Listed below are the documents required for an education loan that is required when you apply for an education loan:

1. Documents of identification

Identity documents help in verifying the identity of the applicant. You need to prove your legal age when you apply for an education loan. A govt. issued ID card is the one you need to provide. Similarly, you need to provide address proof as well. Also, you need to provide your passport as well for authenticity. One main criterion for educational loan requirements is a co-applicant. As the co-applicant will be based in India, the lender can reach out to them easily for different purposes. Their identification documents are required as well.

2. Academic certificates

When you select a course and the educational institution that offers that course, your application is dependent on your performance academically. This is also applicable when you apply for an education loan. The lender will approve your application based on how your academic performance. Your academic mark sheets and certificates are one of the main documents required for an education loan.

3. Income documents

Your proof of income is vital when you apply for a student loan. It is an aspect that is a part of the educational loan requirements for the lender. Your ability to be able to repay the loan is what will get your application approved. This is why documents related to your proof of income are required by the lender. Salary slips or returns of your investment need to be provided to the lender.

4. Application acceptance proof

Once you have submitted your application to the college or university where you want to study and they accept it, you need to provide the acceptance email to your lender. This is the most vital part of the documents required for an education loan. If the institute where you have applied is accredited, your application will get processed in a shorter period of time. However, if the institute does not have the necessary accreditation, your application might get rejected. So make sure the institute you select is a good one.

These are some of the documents required for an education loan. To get more information and know more about other documents, you can get in touch with an education loan lender. You can also check their website to know more about the same, as well as utilize the various services that they offer on their website.