Education Finance is though easily available and in lower interest rate, one should not take it’s advantage. There are several students those who are wanting to avail that and are not able to get it because of various reasons, the one specific at times is not fitting into the eligibility criteria decided by any of the financial institution’s requirement list that is prefixed.
There are various eligibility criteria for students and the co-applicants that are set and standardized. As discussed, right starting from previous academics to University where the student wants to apply, all creditability are checked. The co-applicant like in all loans, may be self-employed or salaried and could be a parent, Sibling or a relative with steady source of income. Annual Income of the co-applicant, Age, Work Experience, Educational Qualification, resident verification of the co-applicant are checked by the financial institution