Will my parents' income be considered for the loan application or do I need collateral?
31 Jul 2026 · Answered by Yasika Choudhary · 1 min read
Yes, your parents' income will be considered for your education loan application, as they are usually required as co-applicants.
- For loans up to ₹7.5 lakh, collateral is typically not needed if your co-applicants have a stable income.
- For loan amounts above ₹7.5 lakh, most lenders require collateral in addition to a co-applicant.
Your parents' income and financial stability remain key factors throughout the process.
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