What are the student loan documents that are required while taking a loan?


Education loans have always acted as angels in times of crisis when the students need the funds in order to fulfill their dreams of pursuing higher studies. These loans are a blessing for the students that are deserving candidates and provide them with the means of getting admission into preferred universities of their choice.

But to avail this loan, every student has to go through a procedure of applying to the financial institutions and then wait for their loan application to get approved.
Here is where a lot of students make unnecessary mistakes that could have been avoided. These mistakes are costly as there is a chance of the application for the loan to get rejected.

To avoid this from happening, the students should be aware of the details of the loan procedure, the specific student loan documents that would be required, and other details regarding the loan like the interest rates, the tenure of the loan, etc.



There are a lot of terms and conditions set by the financial institutions when it comes to the sanctioning of loans, and each one may have different requirements.
Do not fret, we will help ease out your worries by giving you the details of the documents that you require which are the basic student loan documents you should always be carrying on you. 

There are different kinds of documents you as an applicant need to carry with you, here is a list of them:

Identity documents

The financial institutions will be requiring proper identity proof of the applicant before they can sanction the loan. Even the co-applicant of the loan will have to submit documents establishing their identity in order to get the loan. These not only include photo identity, but also residency proofs.

Here are the documents you should carry for identity proof:

-          Aadhar card
-          PAN card
-          Valid Passport
-          Driving license
-          Voter’s ID card
-          Electricity bill
-          Current house lease agreement
-          Certificate of domicile (Issued by the district magistrate office)
-          Permanent residence certificate

Academic documents

Since it is an education loan, it is obvious that the financial institution will require your academic documents to review your application. After reviewing this they get an idea of the student’s potential and based on that decide whether they will be able to repay the loan or not. Make sure you have all the following documents ready when you are applying for an educational loan.

-          Graduate degree
-          10th passing certificate
-          12th passing certificate
-          All other certificates of previous scholarships and awards
-          Proof of admission (Offer letter)
-          Proof of education expenses (Academic fee breakup)

These documents should always be kept with you as they are the basic requirements for most of the financial institutions. Make sure you have all these in place and still check the requirements of the financial institutions you are applying to beforehand to avoid any future confusion.

We hope this article has helped you learn about the student loan documents that you need to carry with you, all the best!

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