Does my father or sister need to have a good CIBIL score for the education loan application?
Yes, your father or sister, if they are co-applicants for your education loan, need to have a good CIBIL score.
Lenders mainly assess the co-applicant’s creditworthiness since students usually have limited credit history. A strong CIBIL score (typically 700 or above) from your co-applicant increases the chances of loan approval and may lead to better terms. If the co-applicant’s score is low, the application could be rejected or approved with stricter conditions.
Having a co-applicant with a solid credit profile is important for securing an education loan.
Will you qualify for an education loan?
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More Cost & living questions
- Is it better to spend 12 lakhs in India or go abroad for higher studies in Germany for a Master's?
- Does the agency provide end-to-end services including visa, loan guidance, and accommodation?
- Do I need to show living expenses in my bank account for visa purposes, and can I withdraw it after reaching Ireland?
- How do I get an education loan for an MBA abroad as an Indian student?
- What is the minimum budget required for studying abroad in Canada or Ireland for two years?
- Are you helping with educational loans or bank loans for studying abroad in UK/Ireland for a Master's?
- Can I apply for an education loan up to 30 to 35 lakhs or 30 to 40 lakhs budget?
- What are the tuition fees for studying in Germany for a Master's/Bachelor's?
