After submitting the SOP and LOR, and once the universities apply, what is the next step for the loan process?
After submitting your SOP and LOR, the next step for the education loan process is to obtain your admission offer letter from the university. Banks and financial institutions require this letter as proof of admission before approving your loan.
Once you have the offer letter, you can start your loan application. Typical documents required include:
- Proof of identity and address (Aadhaar, passport, voter ID, or driving license)
- Academic documents (10th, 12th, graduation mark sheets, entrance exam scores, admission letter)
- Co-applicant income proof (salary slips/Form 16 for salaried, IT returns/balance sheets/bank statements for self-employed)
- Fee structure from the university
- Passport (mandatory for overseas study)
Having these documents ready will help ensure a smooth application process.
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