Education Loan

Documents Required for Education Loan 2024

Documents Required for Education Loan 2024

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Looking for student loan documents required. GyanDhan brings a complete list of education loan documents for secured & unsecured loans & state-wise collateral documents checklist.

Education loan Study abroad
GyanDhan
Anam Shams
Updated on:  04 Mar 2024  | Reviewed By: 
Aman 
| 9.15K | 7  min read

When it comes to pursuing higher education and realizing your academic aspirations, obtaining an education loan can be a pivotal step forward. However, preparing the correct student loan documents is crucial to streamline the process. Familiarizing yourself with the comprehensive education loan documents list is essential to avoid processing delays or application rejections.

Understanding the specific student loan documents required can significantly ease your application process. While some lenders may offer an instant loan without documents for students, it's important to know the standard documents required for a student loan to ensure you are well-prepared. Here is a detailed guide on what documents required for education loan, especially focusing on the documents required for education loan in India, to help you navigate through your loan application process efficiently.

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Education Loan Documents List

Different types of documents are required for an education loan, which can be categorized into various segments, reflecting the multifaceted nature of the education loan documents list. Understanding the student loan documents required is crucial for a seamless application process. By breaking down the which documents required for education loan, applicants can better prepare and thus avoid potential delays or rejections.

Below is the list of documents required for education loan in India, serving as a guide to ensure applicants have a comprehensive understanding of documents required for student loan

Type of document Applicant Co-applicant

KYC documents

Yes

Yes

Passport photographs

Yes 

Yes

Academic documents

Yes 

No

Financial documents

No

Yes

The first set of education loan documents you need to submit in your application is the identity and address proof which includes KYC documents and photos.

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KYC Documents Required for Education Loan

KYC denotes the basic identity details of applicants and co-applicants in the loan application. A KYC document will be a valid identity proof issued by the government or a reliable body that can be used to verify your identity and address. The following are some of the KYC documents for education loans in India:

KYC Documents from the Applicant KYC Documents from the Co-Applicant

Aadhar card

Aadhar card

PAN card

PAN card

Valid passport copy

Voter’s ID 

Along with the KYC documents, the applicant and the co-applicant must submit two copies of passport-size photographs taken within the last 6 months. Your current address proof is a must, and if that is not present in the KYC documents you submit, provide a current address proof such as a water/electricity/ LPG bill, current house lease agreement, or other similar documents.


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Academic Documents Required for Education Loan

All your past academic records must be submitted to the lender as proof of academic eligibility. Note that the UGC declared 23 universities as fake in 2023, meaning your certificate from those universities will not be valid for an education loan.

The following academic documents are typically required for an education loan:

Academic document Conditions

10th result

50% or above pass 

12th result

60% or above pass

Undergraduate results (final and/or semester-wise)

60% or above pass

Entrance test results (GRE, GMAT, IELTS, TOEFL, Duolingo, SAT, ACT, etc.)

The prescribed minimum score for the test

Proof of admission/ Offer letter

Should be valid at the time of applying for a loan

Statement of cost of study/ Schedule of expenses

Should document the major areas of funding for the loan

College/ course prospects

If available 

Copies of letters conferring scholarship, free-ship, etc.

If available

Gap certificate, if applicable

Self-declaration from the student for a gap in studies

Note: Given above is a general list, and you may not require all the documents or other case-specific documents might be required when you approach a lender. 

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Financial Documents Required for Education Loan

The co-applicant’s financial history must be credible when you apply for a secured education loan. The bank ensures the financial trustworthiness of the co-applicant by analyzing the financial documents required for the loan you submit. 

Salaried Co-Applicant Self-Employed Co-Applicant

Salary slip for the last 3 months

Business address proof (GST certificate/ MSME certificate/ Utility bill)

Copy of Form 16 or IT Returns for the last 2-3 years 

TDS Certificate (Form 16A)

Bank statement for the last 6 months

IT returns for the last 6 months - 2 years if IT payee

A brief statement of assets & liabilities

Certificate of qualification for C.A., doctor, and other professionals

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Collateral Documents Required for Education Loan

Collateral documents are most important for secured education loans as the education loan is entirely valued against the collateral provided. Given below are lists of collateral documents required for diverse collateral types like plots, buildings, and liquid collateral: 

Type of Collateral Documents Required

For Plots or Buildings
  • list items Title deed & Sales deed
  • list items Registration receipt
  • list items Allotment letter
  • list items Chain deed for the last 30 years
  • list items Tax copy or electricity bill
  • list items Government-approved building plan
  • list items Occupancy Certificate and Completion Certificate if the property is constructed

For Liquid Security
  • list items For fixed deposits - an FD Certificate
  • list items For insurance policy - Policy paper and Surrender Value Certificate
  • list items For government bonds - A bond certificate
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State-Specific Documents Required for Education Loan


In India, the requirement for property documents is not the same for all the states and union territories since property laws slightly vary among them. The following is a compilation of state-specific documents required for properties in some states of India: 

State  Specific documents

Karnataka
  • list items Khata Certificate
  • list items Khata extract

Maharashtra
  • list items NOC from society
  • list items Bill payment receipt 
  • list items Index II 
  • list items Share certificate
  • list items Conveyance Deed

Telangana
  • list items LRS for lands
  • list items BRS for buildings

Watch the YouTube video on documents required for an education loan

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Post Sanction Documents Required for an Education Loan

The documentation process is not one-sided; the lender also sends some documents as a response to your proper submission of documents. Once the lender approves your education loan application, you need to obtain from the lender the following documents to proceed with the loan process:

Documents for Disbursement Documents for Repayment

Education loan sanction letter

Repayment instructions

Loan agreement

Government interest subsidy claim record

Disbursement request letter 

Eligibility document for the tax deduction under section 80 E

University fee demand letter 

Tuition fee rebate from taxable income under Section 80C

Applicant's academic progress report (Previous semester) 

Record of the due principal amount of the loan along with the number of EMIs

Copy of the payment receipt of the previous disbursement

Fresh repayment instructions in case of full Post Dated Cheque (PDC) or swap of existing repayment instructions.

It is crucial to understand the rationale behind the documents required for education loans and submit them accurately at each stage of the application process. Proper loan documents establish your credibility and enable lenders to assess your profile efficiently. GyanDhan can help you ease the documentation work. We offer education loan borrowers a customized document checklist. Plus, we offer document pickup for specific lenders. To start your loan application hassle-free, check your education loan eligibility.

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Frequently Asked Questions

Do banks provide education loan documents list? 

Generally, the lender provide education loan documents list. But the list of required documents will be a long one that may confuse you to comprehend. Also, it will be difficult to get a timely answer from the lender at every step of the loan application. 

What if I don’t have all the loan documents to apply for an education loan? 

Generally, you must have all the crucial documents when you apply for an education loan. However, if you don’t have a document at the time of application but will be submitting it sooner, you can contact your lender and submit it later if the lender approves the request. 

Is the education loan documents list the same for banks and NBFCs? 

The major documents for an education loan are the same for banks and NBFCs, which are listed below:

  • list items KYC documents of the applicant
  • list items KYC and financial documents of the co-applicant
  • list items Collateral documents, and 
  • list items Academic documents of the applicant

What are the education loan documents required to get an education loan from international lenders like Prodigy Finance and MPOWER Financing? 

The education loan documents requirement is simplified for international lenders like Prodigy Finance and MPOWER Financing since they provide education loans that do not require collateral or co-applicant. Your personal identity and academic documents the major requirements to get an education loan from these international lenders.

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