Are there any basic requirements to get an education loan and how does the process work for a Postgraduate?

Yes, there are basic requirements to get an education loan in India, and the process is structured.

Key requirements:
- Indian citizenship is mandatory.
- Confirmed admission to a recognized institution in India or abroad.
- Eligible course: undergraduate, postgraduate, or professional programs.
- Age: typically 18 - 35 years.
- Co-applicant (parent/guardian with stable income) is usually required for full-time courses.

Process overview:
1. Choose a lender and check their eligibility criteria.
2. Gather documents: ID/address proof, academic records, admission letter, fee structure, and co-applicant income proof.
3. Submit your application (online or at a branch).
4. Lender verifies documents and application.
5. If approved, you receive a sanction letter and the loan is usually disbursed directly to the institution.
6. Repayment starts after a moratorium period post-course (typically 6 - 12 months).

Loan terms, interest rates, and policies are subject to change. If you need help with your application, connect with your LeapScholar counsellor.