How to check your education loan eligibility?

With the rise in the cost of education every year, it is increasingly becoming tough for students to pursue higher education in India. So is getting the education loans to fund academic and extra expenses. Each bank in with its own policies tries to provide the students with affordable and convenient loans. The best banks for education loans in India have easier norms for education loan eligibility. Meritorious students, in context of eligibility for education loan, are offered financial help to study at renowned institutes in India or abroad. Students based on their financial needs and urgency are also provided education loans with relaxed eligibility criteria.Scholarship Registration, Find New Scholarship

Students need to stay updated about the latest education loan norms and updates in education loan policies. It’s often not the most meritorious but the most well informed students who are able to secure the most cost-effective education loans. However, students need to know how to check their eligibility criteria to get their education loan approved. Here is a checklist for them.

Basic Criteria of education loan eligibility

  1. Candidates who are applying for an education loan must be a resident of India
  2. Students pursuing full-time courses need to have a co-applicant who can be either parent/guardian or spouse/parent-in-law (in case of married candidates)
  3. General academic performance criteria for various banks starting from 50% in previous qualifying examination
  4. The course applied for should be either professional, technical or atleast developmental, leading to job oriented learning

Education loan eligibility does not solely depend on the basic requirements of citizenship or academic records. In order to find the best bank for education loan in India, students are required to fulfill other criteria as well. Each of these additional criteria add to the overall possibility of the student landing a suitable education loan. The most important education loan eligibility criteria information is tabulated below:

Education loan eligibility based on age:

Students in India only have to abide by a minimum age limit to start an academic course, but they don’t have an age limit to finish it. However, educational loans require students to come from a certain age group for pursuing respective education loans. This helps the students to manage their finances as well as complete their educational course in time to reduce penalties or extra expenses.

Type of educational courseEducation loan eligibility criteria (age)
Under-Graduate courses18-27 years
Post Graduate Courses21-35 years
Doctoral courses27-55 years
Post-Doctoral courses27-65 years

Education loan eligibility based on courses applied for

One of the most important education loan eligibility condition for most banks is the courses which students wish to study. The banks rely on the simple fact that students can seek education loans if they are pursuing courses that might lead to a foreseeable employment, career development or job related actions. These courses can either be technical courses (like Engineering, Medicine, architecture, etc.), professional courses (like management, designing, banking-accounting, etc.) or developmental like (diploma, ITI, certificate courses etc.). The detailed list of courses eligible for education loans in India is:

Education loan eligibility: Courses based

Students in India can avail loans for the following courses.

  1. Undergraduate degrees/diplomas and special courses
  2. Postgraduate degrees/diplomas and special courses
  3. PhDs and Doctoral Programmes
  4. Certificate courses (minimum duration 6 months and above)

Some other courses which are eligible for education loans depending upon the banks individual policies and plausibility of job-oriented outcome:

  1. Computer certificate course
  2. Engineering diploma
  3. Certificate courses from ITI
  4. Data entry operator course
  5. Nursing/Teacher Training certificate courses and B.Ed
  6. Agri diploma
  7. Veterinary diploma
  8. Any job-oriented diploma or certificate course
  9. Applicants with Degree or diplomas for aeronautics, pilot training, shipping held by recognized regulatory bodies for the purpose of employment in India or abroad
  10. Vocational courses run by a Government organization or department
  11. Courses run by State Skill Missions, State Skill Corporations, or National Skill Development Corporation

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Education loan eligibility based on institutions

Key factors of education loan eligibility for institutions:

  • Only applicants of recognized colleges/ universities recognized by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc. are eligible
  • Institutional courses recognized by Government of India like ICWA, CA, CFA etc.
  • Institutions providing degree/diploma courses like Aeronautical, pilot training, shipping, nursing or any other discipline, approved by Director General of Civil Aviation/Shipping/Indian Nursing Council
  • Recognized institutions/universities/colleges for education loan abroad depend on banks personal discretion and list of colleges

List of colleges approved for education loans in India

1Indian School of Business (ISB), Hyderabad
2Indian School of Business (ISB), Mohali
3Indian Institute of Management (IIM), Ahemdabad
4Indian Institute of Management (IIM), Bangalore
5Indian Institute of Management (IIM), Kolkata
6Indian Institute of Management (IIM), Indore
7Indian Institute of Management (IIM), Lucknow
8IIM Lucknow – Noida Campus
9Indian Institute of Management (IIM), Kozikode
10Indian Institute of Management (IIM), Shillong
11XLRI Xavier School of Management

(Xavier Labour Relations Institute), Jamshedpur

12Indian Institute of Management (IIM), Raipur
13Indian Institute of Management (IIM), Ranchi
14Indian Institute of Management (IIM), Rohtak
15Indian Institute of Management (IIM), Trichy
16Indian Institute of Management (IIM), Udaipur
17Indian Institute of Management (IIM), Kashipur
18Indian Institute of Management (IIM), Nagpur
19Faculty of Management Studies (FMS), Delhi
20IIT-SJSOM, Mumbai
21Indian Institute of Foreign Trade (IIFT), Delhi
22Indian Institute of Foreign Trade (IIFT), Kolkata Campus
23Institute of Management Technology (IMT), Ghaziabad
24Dept of Management Studies, IIT, Delhi


Narsee Monjee Institute of Management &Higher Studies (NMIMS), Mumbai
26Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai
27Nirma Institute of Management, Ahemdabad
28S P Jain Institute of Management and Research (SPJIMR), Mumbai
29Xavier Institute of Management (XIM), Bhubaneswar
30Symbiosis Institute of Business Management (SIBM), Pune
31Management Development Institute (MDI), Gurgaon
32National Institute of Industrial training (NITIE), Mumbai
33Dept of Industrial & Management Engineering, IIT, Kanpur
34Mudra Institute of Communication (MICA), Ahemdabad
35Institute of Rural Management, Anand (IRMA)
36Tata Institute of Social Sciences (TISS), Mumbai
37Indian Institute of Technology (IIT), Mumbai
38Indian Institute of Technology (IIT), Kanpur
39Indian Institute of Technology (IIT), Chennai
40Indian Institute of Technology (IIT), Kharagpur
41Indian Institute of Technology (IIT), Guwahati
42Indian Institute of Technology (IIT), Delhi
43Indian Institute of Technology (IIT), Roorkee
44Indian Institute of Technology (IIT), Gandhinagar
45Indian Institute of Technology (IIT), Roopnagar
46Indian Institute of Technology (IIT), Jodhpur
47Indian Institute of Technology (IIT), Hyderabad
48Indian Institute of Technology (IIT), Patna
49Indian Institute of Technology (IIT), Bhubaneswar
50Indian Institute of Technology (IIT), Mandi
51Indian Institute of Technology (IIT), Indore
52Indian Institute of Technology (IIT), Tirupati
53Indian Institute of Technology (IIT), Palakkad
54Indian Institute of Technology (IIT), (BHU) Varanasi
55Indian Institute of Technology (IIT), Jammu
56Indian Institute of Technology (IIT), Goa
57Indian Institute of Technology (IIT), Bhilai
58Indian Institute of Technology (IIT), Dharwad
59Indian Institute of Technology (IIT) (ISM) Dhanbad
60Atal Bihari Vajpayee Indian Institute of Information Technology

and Management, Gwalior, Madhya Pradesh

61Indian Institute of Information Technology (IIIT), Allahabad, Uttar


62Indian Institute of Information Technology (IIIT), Jabalpur,

Madhya Pradesh

63Indian Institute of Information Technology (IIIT), Kancheepuram,

Tamil Nadu

64Indian Institute of Information Technology (IIIT), Kurnool,

Andhra Pradesh

65Indian Institute of Information Technology (IIIT) Kota, Rajasthan.
66Indian Institute of Information Technology (IIIT) Guwahati,


67Indian Institute of Information Technology (IIIT) Sri City

(Chittoor), Andhra Pradesh.

68Indian Institute of Information Technology (IIIT) Vadodara,


69Indian Institute of Information Technology (IIIT) Tiruchirapalli,

Tamil Nadu.

70Indian Institute of Information Technology (IIIT) Una, Himachal

Pradesh .

71Indian Institute of Information Technology (IIIT), Sonepat,


72Indian Institute of Information Technology (IIIT), Kalyani, West


73Indian Institute of Information Technology (IIIT), Senapati,


74Indian Institute of Information Technology (IIIT), Lucknow, Uttar


75Indian Institute of Information Technology (IIIT), Dharwad,


76Indian Institute of Information Technology (IIIT), Kottayam,


77Indian Institute of Information Technology (IIIT), Nagpur,


78Indian Institute of Information Technology (IIIT), Pune,


79Indian Institute of Information Technology (IIIT), Ranchi,


80Marine Engineering College, Kolkata
81Delhi Technological University (DTU)
82Birla Institute of Technology & Science (BITS), Pilani
83National Institute of Design (NID), Ahemdabad
84Indian Institute of Science (IISC), Bangalore
85Christian Medical College (CMC), Vellore
86Bangalore Medical College (BMC), Bangalore
87Jawaharlal Institute of Post-Graduate Medical Education and Research (JIPMER), Pondicherry
88Madras Medical College (MMC), Chennai
89Grant Medical College (GMC), Mumbai
90Armed Forces Medical College (AFMC), Pune
91King Edward Medical College (KEMC), Mumbai
92Maulana Azad Medical College (MAMC), Delhi
93All India Institute of Medical Sciences (AIIMS), Delhi
94All India Institute of Medical Sciences (AIIMS) Bhopal
95All India Institute of Medical Sciences (AIIMS) Bhubaneswar
96All India Institute of Medical Sciences (AIIMS) Jodhpur
97All India Institute of Medical Sciences (AIIMS) Patna
98All India Institute of Medical Sciences (AIIMS) Raipur
99All India Institute of Medical Sciences (AIIMS) Rishikesh
100Lady Hardinge Medical College (LHMC), Delhi
101Kasturba Medical College (KMC), Manipal
102Post Graduate Institute of Medical education & Research (PGIMER), Chandigarh
103M S Ramaiah Medical College – Bangalore
104M S Ramaiah Institute of Technology – Bangalore
105Vellore Institute of Technology(VIT) – Vellore
106SRM Institute of Science & Technology (SRM University)

– Kattankulathur Campus

107IMT Nagpur
108IMT Hyderabad
109SASTRA Deemed University for Engg. & Mgmt Courses (B.Tech, M.Tech, 5 year integrated M.Tech, MCA, MBA)
110Indraprastha Institute of Information Technology, Delhi (B.Tech (CSE and ECE)
111Vellore Institute of Technology, Chennai Campus (VIT Chennai) (B.Tech, M.Tech, MCA, and MBA)
112Amrita Vishwa Vidyapeetham, Coimbatore (AVV Coimbatore) (B.Tech., B.E. and M.Tech)
1Loyola Institute of Business Administration (LIBA),


2National Institute of Technology (NIT), Warangal
3National Institute of Technology (NIT), Tiruchirapalli
4National Institute of Technology (NIT), Surathkal
5National Institute of Technology (NIT), Raipur
6National Institute of Technology (NIT), Rourkela
7National Institute of Technology (NIT), Kurukshetra
8National Institute of Technology (NIT), Calicut
9National Institute of Technology (NIT), Durgapur
10National Institute of Technology (NIT), Jamshedpur
11National Institute of Technology (NIT), Patna
12National Institute of Technology (NIT), Silchar
13National Institute of Technology (NIT), Agartala
14National Institute of Technology (NIT), Hamirpur
15National Institute of Technology (NIT), Srinagar
16Malaviya National Institute of Technology (NIT), Jaipur
17Maulana Azad National Institute of Technology (NIT),


18Sardar Vallabh Bhai National Institute of Technology (NIT),


19Motilal Nehru National Institute of Technology (NIT),


20Dr. B R Ambedkar National Institute of Technology (NIT),


21Visvesvaraya National Institute of Technology (NIT),


22National Institute of Technology, Arunachal

Pradesh (Yupia)

23National Institute of Technology Sikkim
24National Institute of Technology, Goa
25National Institute of Technology, Meghalaya
26National Institute of Technology, Nagaland
27National Institute of Technology, Manipur
28National Institute of Technology Mizoram
29National Institute of Technology Uttarakhand
30National Institute of Technology, Delhi
31National Institute of Technology, Puducherry
32Birla Institute of Technology & Science (BITS), Hyderabad


33Birla Institute of Technology & Science (BITS), Goa


34Birla Institute of Technology (Mesra), Ranchi
35Netaji Subash Institute Of Technology (NSIT), Delhi
36Dhirubhai Ambani Institute of Information & Communication Technology (DAIICT), Gandhinagar
37LN Mittal Institute of Technology (LNMIT), Jaipur
38School of Planning & Architecture, New Delhi
39College of Engineering, Guindy (Anna University)
40Madras Institute of Technology (Anna University)
41Alagappa Chettiar College of Technology (Anna


42College of Structural & Architectural Planning (Anna


43National Law School of India University (NLSIU),


44National University of Juridical Sciences (NUJS), Kolkata
45St. John’s Medical College, Bangalore
46Christian Medical College (CMC), Ludhiana
47Dayanand Medical College (DMC), Ludhiana
48Amrita School of Medicine (ASM), Kerala


All Central and State Government Medical Colleges for MBBS, BDS, and post graduation courses such as MD, MS, MDS, MCh, DM etc.
50Thapar Institute of Engineering and Technology – Patiala
51P.E.C. University of Technology Chandigarh
52All National Institute of Fashion Technology
53Madras School of Economics (MSE), Chennai
54St. Stephen’s College – Delhi
55Lady Shriram College for Women (LSR) – Delhi
56Loyola College – Chennai
57Department of Humanities and Social Sciences (Christ University) – Bangalore
58Hindu College – Delhi
59Miranda House – Delhi
60Fergusson College – Pune
61Madras Christian College(MCC) – Chennai
62Hansraj College – Delhi
63Ramjas College – Delhi
64Sri Ram College of Commerce(SRCC) – Delhi
65Department of Commerce – Christ University – Bangalore
66Symbiosis Society’s College of Arts & Commerce – Pune
67St. Joseph’s College of Commerce – Bangalore
68Mithibai College – Mumbai
69Department of Science (Christ University) – Bangalore
70Sri Venkateswara College – Delhi
71Stella Maris College – Chennai
72Christ University, Bangaluru
73Symbiosis Centre for Management Studies
74Wisdom Faculty of Management Studies, Banasthali


75Department of Business Administration, SRM University
76Madras Christian College
77Department of Computer Application, Christ University –


78Department of Computer Applications, SRM University –


79Symbiosis Institute of Computer Studies & Research (SICSR) – Pune
80Women’s Christian College – Chennai
81St. Joseph’s College – Bangalore

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List of colleges approved for foreign education loan

S. No.UniversityLocation
1University of OxfordUnited Kingdom
2California Institute of TechnologyUnited States
3Stanford UniversityUnited States
4University of CambridgeUnited Kingdom
5Massachusetts Institute of TechnologyUnited States
6Harvard UniversityUnited States
7Princeton UniversityUnited States
8Imperial College LondonUnited Kingdom
9ETH Zurich – Swiss Federal Institute of Technology ZurichSwitzerland
10University of California, BerkeleyUnited States
11University of ChicagoUnited States
12Yale UniversityUnited States
13University of PennsylvaniaUnited States
14University of California, Los AngelesUnited States
15University College LondonUnited Kingdom
16Columbia UniversityUnited States
17Johns Hopkins UniversityUnited States
18Duke UniversityUnited States
19Cornell UniversityUnited States
20Northwestern UniversityUnited States
21University of MichiganUnited States
22University of TorontoCanada
23Carnegie Mellon UniversityUnited States
24National University of SingaporeSingapore
25London School of Economics and Political ScienceUnited Kingdom
26University of WashingtonUnited States
27University of EdinburghUnited Kingdom
28Karolinska InstituteSweden
29Peking UniversityChina
30LMU MunichGermany
31École Polytechnique Fédérale de LausanneSwitzerland
32New York UniversityUnited States
33Georgia Institute of TechnologyUnited States
34University of MelbourneAustralia
35Tsinghua UniversityChina
36University of British ColumbiaCanada
37University of Illinois at Urbana-ChampaignUnited States
38King’s College LondonUnited Kingdom
39University of TokyoJapan
40KU LeuvenBelgium
41University of California, San DiegoUnited States
42McGill UniversityCanada
43Heidelberg UniversityGermany
44University of Hong KongHong Kong
45University of Wisconsin-MadisonUnited States
46Technical University of MunichGermany
47Australian National UniversityAustralia
48University of California, Santa BarbaraUnited States
49Hong Kong University of Science and TechnologyHong Kong
50University of Texas at AustinUnited States
51Brown UniversityUnited States
52University of California, DavisUnited States
53University of MinnesotaUnited States
54Nanyang Technological University, SingaporeSingapore
55University of ManchesterUnited Kingdom
56University of North Carolina at Chapel HillUnited States
57Humboldt University of BerlinGermany
58Washington University in St LouisUnited States
59Delft University of TechnologyNetherlands
60University of QueenslandAustralia
61University of Southern CaliforniaUnited States
62University of SydneyAustralia
63University of AmsterdamNetherlands
64Boston UniversityUnited States
65Wageningen University & ResearchNetherlands
66École Normale SupérieureFrance
67University of Maryland, College ParkUnited States
68Pennsylvania State UniversityUnited States
69Erasmus University RotterdamNetherlands
70Purdue UniversityUnited States
71University of BristolUnited Kingdom
72Ohio State UniversityUnited States
73Seoul National UniversitySouth Korea
74Monash UniversityAustralia
75Free University of BerlinGermany
76Chinese University of Hong KongHong Kong
77Leiden UniversityNetherlands
78University of New South WalesAustralia
79RWTH Aachen UniversityGermany
80University of GroningenNetherlands
81University of PittsburghUnited States
82Dartmouth CollegeUnited States
83Emory UniversityUnited States
84Technical University of BerlinGermany
85University of WarwickUnited Kingdom
86Utrecht UniversityNetherlands
87Rice UniversityUnited States
88University of GlasgowUnited Kingdom
89Korea Advanced Institute of Science and Technology (KAIST)South Korea
90University of TübingenGermany
91University of HelsinkiFinland
92Kyoto UniversityJapan
93Uppsala UniversitySweden
94Maastricht UniversityNetherlands
95University of FreiburgGermany
96Durham UniversityUnited Kingdom
97Lund UniversitySweden
98Aarhus UniversityDenmark
99University of BaselSwitzerland
100University of California, IrvineUnited States
101Michigan State UniversityUnited States
102University of MannheimGermany
103University of MontrealCanada
104Georgetown UniversityUnited States
105Pohang University of Science and TechnologySouth Korea
106University of ZurichSwitzerland
107University of AlbertaCanada
108Vanderbilt UniversityUnited States
109University of SheffieldUnited Kingdom
110University of BernSwitzerland
111University of St AndrewsUnited Kingdom
112University of GöttingenGermany
113University of BonnGermany
114McMaster UniversityCanada
115Queen Mary University of LondonUnited Kingdom
116University of Colorado BoulderUnited States
117École PolytechniqueFrance
118Ghent UniversityBelgium
119City University of Hong KongHong Kong
120University of CopenhagenDenmark
121Pierre and Marie Curie UniversityFrance
122Radboud University NijmegenNetherlands
123University of SouthamptonUnited Kingdom
124University of VirginiaUnited States
125University of Western AustraliaAustralia
126Case Western Reserve UniversityUnited States
127University of ExeterUnited Kingdom
128Université Catholique de LouvainBelgium
129University of YorkUnited Kingdom
130University of BirminghamUnited Kingdom
131Arizona State UniversityUnited States
132Trinity College DublinIreland
133University of OsloNorway
134University of LeedsUnited Kingdom
135University of FloridaUnited States
136Tufts UniversityUnited States
137Ulm UniversityGermany
138University of GenevaSwitzerland
139Lancaster UniversityUnited Kingdom
140Scuola Normale Superiore di PisaItaly
141Sungkyunkwan University (SKKU)South Korea
142Rutgers, the State University of New JerseyUnited States
143University of AdelaideAustralia
144University of Notre DameUnited States
145Karlsruhe Institute of TechnologyGermany
146Stockholm UniversitySweden
147University of California, Santa CruzUnited States
148University of NottinghamUnited Kingdom
149University of Cape TownSouth Africa
150University of SussexUnited Kingdom
151Indiana UniversityUnited States
152University of LausanneSwitzerland
153University of RochesterUnited States
154University of Science and Technology of ChinaChina
155University of TwenteNetherlands
156Fudan UniversityChina
157University of ArizonaUnited States
158VU AmsterdamNetherlands
159University of LiverpoolUnited Kingdom
160KTH Royal Institute of TechnologySweden
161University of Erlangen-NurembergGermany
162University of MünsterGermany
163University of ViennaAustria
164Autonomous University of BarcelonaSpain
165TU DresdenGermany
166University of AucklandNew Zealand
167University of California, RiversideUnited States
168University of East AngliaUnited Kingdom
169University of MassachusettsUnited States
170Texas A&M UniversityUnited States
171University of CologneGermany
172University of GothenburgSweden
173University of LeicesterUnited Kingdom
174Royal Holloway, University of LondonUnited Kingdom
175University of WaterlooCanada
176Pompeu Fabra UniversitySpain
177Technical University of DenmarkDenmark
178Eindhoven University of TechnologyNetherlands
179University of LuxembourgLuxembourg
180Paris-Sud UniversityFrance
181University of DundeeUnited Kingdom
182University of HamburgGermany
183Cardiff UniversityUnited Kingdom
184University of MiamiUnited States
185Northeastern UniversityUnited States
186University of the WitwatersrandSouth Africa
187Hebrew University of JerusalemIsrael
188University of WürzburgGermany
189University of AberdeenUnited Kingdom
190Lomonosov Moscow State UniversityRussian Federation
191Newcastle UniversityUnited Kingdom
192Scuola Superiore Sant’AnnaItaly
193Hong Kong Polytechnic UniversityHong Kong
194University of ReadingUnited Kingdom
195University of KonstanzGermany
196University of CalgaryCanada
197National Taiwan UniversityTaiwan
198University of Duisburg-EssenGermany
199Brandeis UniversityUnited States
200Tilburg UniversityNetherlands

Other educational institutions (both domestic and foreign) are eligible for education loans, but banks reserve the rights to approve or reject loans for such institutions.

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How to check education loan eligibility for specific banks

Before applying for an education loan from any of the top banks in India, students can check their eligibility criteria in advance. Candidates can check on different education loan banks’ websites for respective criteria. If the applicant is following all criteria mentioned here then perhaps they’d only need to comply with documents required for education loan and no bank would deny education loan.

How to improve students’ education loan eligibility

The overall academic excellence of students, their future course of education and status of current admission are some of the basic parameters that banks evaluate before sanctioning an education loan. Banks also prefer meritorious applicants who’ve secured national and international scholarships for studies. With some of the following crucial factors, students can improve their education loan eligibility criteria for faster approvals.

Scoring high grades/ranking in the qualifying exams

  1. Admission by entrance test merit
  2. Merit records in qualifying examinations (10th, HSC, 12th SSC/ HLSC/ graduation/diploma/post-graduation/doctorate or equivalent)

Getting admission in a reputed/top-tier institute or university

  1. Admission into a university approved in the lists mentioned above
  2. Direct admission by merit

Strong financial background of parents/guardians/co-borrower

  1. Proof of business (with approved records of audit from CA or requisite authorities)
  2. Record of fool-proof credit scores (CIBIL or otherwise)

Displaying good prospects for future employment/income generation

  1. Course value
  2. Institution placement record

Students with most information about education loan eligibility, interest rates and documents required are the ones who secure the best education loans. Interested and passionate students can find more information about finance options from education loan experts at Buddy4Study. Happy Learning!