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Education Loans for Canada

Updated on Nov 15, 2022
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Students seeking an education loan for study in Canada might get their loan approved quickly if all relevant paperwork is presented in advance.

It's best to call a bank close to your home so that the procedure can move quickly and you have enough time to do frequent follow-ups so that your education loan for Canada is ready when the intake process begins.

Prerequisites for applying for a student loan

The prerequisites for applying for a student loan to Study in Canada.

Before applying for a student loan, be sure you meet the eligibility requirements. The following are some of the considerations that all banks make:

  • The borrower must be an Indian national.

  • The university or institution's acceptance letter.

  • The candidate, or the applicant's parents, must be at least 18 years old.

  • The candidate must take a professional course.

Documents Required while applying for overseas education loan in India

  • Admission Letter

  • Loan Application Form

  • 2 passport size photographs

  • Statement of cost of study

  • PAN Card of the candidate and Parent/ Guardian

  • AADHAR Card of the candidate and Parent/ Guardian

  • Proof of identity (Driving License/Passport/ Aadhar/ any photo identity)

  • Proof of residence (Driving License /Passport/Electricity bill/Telephone bill)

  • Student/Co-borrower/ guarantor's bank account statement for the last 6 months

  • IT return/ IT assessment order, of previous 2 years of Parent/ Guardian/ other co-borrower (if IT Payee)

  • Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower

Proof of income (i.e. salary slips/ Form 16) Parent/ Guardian/ other co-borrower.

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