How much annual income should my guarantor have to be eligible for an education loan?

It depends on the loan amount and the lender’s policies. For smaller loans (up to ₹4 lakh), banks usually focus on a co-borrower like a parent, and the guarantor’s income may not be a key factor.

- For higher loan amounts, banks typically require a guarantor with a stable income - often ₹30,000 - ₹50,000/month (subject to change), depending on the loan size.
- Banks also look at the guarantor’s credit score (usually 700+), job stability, and existing debts.

Some government schemes, like the PM Vidyalaxmi Scheme, may not require a guarantor or collateral. For specific requirements and options, please connect with your LeapScholar counsellor.