Who can be my co-applicant for an education loan to study abroad?
15 Oct 2026 · Answered by Saru Sharma · 1 min read
Quick Answer
verified
A co-borrower, such as a parent, spouse or legal guardian, with an active PAN card and a CIBIL score of 700 or higher is typically mandatory for an education loan. The student is always the primary borrower. Rules can vary by bank, so confirm them.
For an education loan to study abroad, you are always the primary borrower, and a financial co-borrower is typically mandatory. Requirements can vary by bank, so confirm them with your lender.
Co-Applicant Rules
| Item | Requirement |
|---|---|
| Primary applicant | The student, regardless of age or employment status |
| Co-applicant | Parent, spouse or legal guardian |
| Co-applicant documents | Active PAN card and a CIBIL score of 700 or higher |
| Application route | Common Educational Loan Application Form (CELAF) via the Vidya Lakshmi Portal for public sector banks |
Loan Amount and Rejection Risks
- Loan amount is calculated as total cost of attendance minus scholarships and margin money.
- Margin money on overseas loans is usually around 15% at public sector banks.
- A top rejection factor is a mismatch between identity documents such as your passport and PAN and your academic marksheets.
- Unverified co-borrower income documents are another common cause.
My Advice
Check your co-borrower's PAN and CIBIL status early, and make sure names and details match across all documents. Margin money and thresholds vary by bank, so confirm them with the lender.
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