Do education loans require involving parents as co-applicants?

Yes, most education loans in India require a co-applicant, and parents are commonly involved in this role. Lenders usually ask for a parent, guardian, or spouse to co-sign the loan to ensure repayment, especially since students may not have a steady income or credit history.

If your parent does not meet the financial requirements, some lenders may allow a working sibling or another close family member as a financial co-applicant. This requirement is standard across major banks and is subject to change.

For details on suitable co-applicants for your situation, connect with your LeapScholar counsellor.