If you are planning to pursue your higher education in India or abroad, taking an education loan is one of the best ways to finance your endeavor. However, for many, taking a student loan is the first major financial transaction, and thus it is quite natural to feel confused and have a lot of questions about the education loan application process.

However, to help resolve any questions that you might have, here’s how to fill the education loan application form-

1. Fill the form accurately

When you apply for an education loan, you need to fill up an application form. It can either be filled online or offline. If you choose to fill and submit the hard copy of the same, it is recommended to first fill the form with a pencil, and once you have cross-checked it, you can fill it again with a pen. On the other hand, if you are filling out the education loan application form online, it is very important to double-check the details you have entered before pressing the ‘ submit ‘ button. Providing accurate information in the application form is crucial for your loan to be sanctioned.

2. Have a face-to-face meet with the lender

Once you have submitted the form with accurate information about you, the next important thing is to meet with your loan provider in person. This is done to clarify any queries that the lender has about your academic performance, your reason for choosing the course, or any other information that might help them gain confidence in your ability to repay the debt. Many lenders even ask for a detailed breakdown of the loan amount that is requested, and hence it is recommended to be prepared for the same when you apply for a student loan online or offline.

 3. Make a document check-list

You would also need to submit a few other documents to your lender along with the loan application form. It is recommended to make a checklist of all the documents required as it helps you get through the process in one attempt and thus saves time. Do not forget to carry the original copies of a few documents like your admission letter, identity proof, results of language proficiency tests, applicable visa, etc., for verification. You can easily get the list of the required documents by searching ‘ education loan apply online ‘ on the internet.

 4. Wait for approval and check for disbursal

After you have completed the entire process of your education loan application, the next step is to wait while the lender reviews your documents and grants approval. The loan is usually sanctioned in 7 to 15 working days; however, it can vary from lender to lender.

We hope this article proves useful the next time you need to fill out an education loan application form. All the best!