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Eligibility for Education Loan : Criteria for Loan Applicants

Eligibility for Education Loan : Criteria for Loan Applicants

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Event Description

The 40th and the last episode of Loanflix - Season 1, is here. Welcome to the viewing of this episode. This episode will tell you all about the different terms which affect the applicant profile for education loan eligibility in India.

Loanflix is the most comprehensive web-series on abroad education loans. The motive is to empower students and their guardians so that they can take an informed decision about the education loan.

Having a thorough knowledge of the criteria of eligibility for education loan is crucial to the abroad education loan process. With the rising number of lenders offering abroad education loans, it is quite natural for students to be confused about the different set of criteria of eligibility for education loan. The education loan eligibility in India mainly depends on the nature of the education loan and the lender chosen by you. The 40th episode of Loanflix mainly deals with the following points which form the basis of some of the important student loan eligibility criteria of various lenders in India.

The entire list of abroad education loan eligibility criteria is divided into factors which are related to the past and future aspects of your abroad education loan system.

Eligibility For Education Loan: Factors Related to the Candidate’s Academic Past

1. Percentage of Marks

When it comes to academic grades, the terms of eligibility for education loans laid down by government banks are pretty flexible. However, banks like SBI, PNB, Bank of Baroda, etc. have set the minimum percentage of marks for students who wish to study abroad with the help of abroad education loans. The episode begins with an explanation regarding the same.

2. Backlogs

A lot of engineering graduates are often concerned about backlogs, as a lot of them are not able to avail of abroad education loans due to this very factor. In this section of the episode, Damini, the presenter of this episode and one of the brains behind the Loanflix web-series, explains the various terms of eligibility for education loan of different lenders with respect to this term.

3. Year gaps in Academic Profile

A lot of students are under the impression that having a gap year in their previous course duration will deem them ineligible for an education loan. Know how you can fulfil this abroad education loan eligibility criteria by watching out for this part of the episode.

4. Work Experience

Although work experience is not part of the important education loan eligibility criteria, candidates having work experience are mostly at an advantage in the abroad education loan process. Know all about how this criterion for an abroad education loan can be utilised to your advantage while applying for an abroad education loan.

Student Loan Eligibility: Future Prospects

1. Desired Country of Higher Studies

This particular student loan eligibility term plays a very important role in determining whether students get to avail unsecured education loans. Watch out for this part of the episode to know more about it.

2. Nature of the Course

When it comes to NBFCs, being enrolled in courses coming under the STEM category is a major education loan requirement for students. In this part of the episode, you will get to know about the criteria of eligibility for education loan decided by both government banks and NBFCs with respect to the nature of the course chosen by you.

3. Degree Level

It is common knowledge that most education loan schemes are designed as per the requirements of students studying for postgraduate courses abroad. However, did you know that it is also possible to fund undergraduate studies with the help of education loans? Know all about it when you watch this part of the 40th episode.

4. Test Scores

Know all about how the scores of qualifying exams such as IELTS, TOEFL, GRE, GMAT, etc. affect the applicant profile for education loan in the concluding part of the episode.

This point marks the conclusion of this episode and this episode marks the end of the 40th episode of Loanflix. Do stay tuned for the next season, in which our team will discuss the education loan process in greater details.

 

Date And Time

Timezone : (GMT+05:30) Chennai

Location

India

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Speakers

Damini Mahajan

Damini Mahajan
CoFounder & CEO, WeMakeScholars 

Damini is the Cofounder & CEO of WeMakeScholars.com. It’s a BITS start up supported and funded under the IT Ministry, Govt. of India. The organisation’s motive is to offer unbiased collateral/non-collateral based education loan support to students who are planning for studying abroad. As this initiative is under the digital India campaign, it's at free of cost. WMS works with 14+ banks (public/pvt) in India and help you get the best edu loan matching your profile.

Prior to launching WeMakeScholars, Damini had done her masters from the University of Sheffield, UK. Her education was funded under the Developing Solutions Masters Scholarship which covered her full tuition fee ($ 38,000). Damini is also a gold medalist in her Bachelors and also won the outstanding student award from the Vice president of India. 

She was the speaker at TiECon 2016 at Silicon valley, San Francisco in the social entrepreneurship segment. She was also covered in the Asian Entrepreneur magazine in the “Women on Top in Tech”, a global series of Women Founders, CEOs & Leaders in Tech. 

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