Education Loan

Documents Required for Education Loan

Documents Required for Education Loan

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

Education loan Study abroad
GyanDhan
Anam Shams
Updated on:  04 Mar 2024  | Reviewed By: 
Aman 
| 8.96K | 8  min read

When it comes to pursuing higher education and realizing your academic aspirations, obtaining an education loan can be a significant step forward. However, one of the biggest hurdles in the loan application process is the confusion and uncertainty surrounding the documents required for an education loan. 

Inadequate or outdated documents can lead to processing delays or even the rejection of your application. To avoid that, here’s a guide to familiarize yourself with the specific documents required for your education loan application.

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Types of Documents Required for Education Loan

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KYC documents required for education loan

KYC stands for Know Your Customer and 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 letter conferring scholarship, free-ship, etc.

If available

Gap certificate, if applicable

Self-declaration from the student for 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 of 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 - FD Certificate
  • list items For insurance policy - Policy paper and Surrender Value Certificate
  • list items For government bonds - Bond certificate

State-specific documents

In India, requirement for the 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

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Documents required post sanction of 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.


Understanding the rationale behind documents required for education loans and submitting them accurately at each stage of the application process is crucial. Proper loan documents establish your credibility and enables lenders assess your profile efficiently.

Carefully note down the documents required for your application, do the paperwork, and you will have more chances of a successful loan application. 

We can help you ease the documentation work. Get a customized list of documents required for your education loan. Plus, we offer home pickup of documents for specific lenders, or students can upload the documents online on our website. 

Here’s how you initiate the process - check your education loan eligibility

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Frequently asked questions

Will my lender give me the list of education loan documents while applying for a loan?

Generally the lender will provide you the list of documents when you approach for an education loan. 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 sooner, you can contact your lender and submit it later if the lender approves the request. 

Is the required loan document list 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

The elaborate checklist of documents differs with lenders depending on your profile. Contact your lenders to get the case-specific record of documents. 

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

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

Should the documents required for loans be recent while applying for an education loan?

The documents you submit must be valid according to the lender’s terms. The financial documents must be recent in typical cases, though academic documents need not be very recent.

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