MIT,ModinagarCommerce and Banking Colleges in IndiaCommerce and Banking Questions

Can I take student credit loan

- KritikaUpdated On November 23, 2023 11:13 AM

An education loan is a widely accepted and practical solution for financing higher education, which often comes with hefty fees. Banks offer education loans for a variety of courses, including graduation, post-graduation, diploma, and professional programs, at attractive interest rates. LPU provides extensive support to students in obtaining these loans. Typically, students prefer to secure loans from their hometowns due to the convenience of the documentation process. LPU collaborates with reputable government and private banks in India, such as Punjab National Bank, ICICI, Karur Vysya Bank, and others. Moreover, LPU has partnerships with select NBFCs like Afinoz, Credenc, Eduvanz, and more. A dedicated loan assistance cell at LPU handles all such cases. Once a student takes admission, they are required to email their loan letter requirement to the Loan department. However, loan letters can only be issued after the student submits a loan application form to the Student Loan Assistance team, which may take up to two weeks. Many students at LPU are pursuing their studies with the help of education loans. To apply for a loan, you will need to submit documents such as PAN card, identity proof, photographs, residential proof, 10th and 12th mark sheets, as well as documents related to your guardian. LPU will also require the original prospectus, fee structure, and proof of admission. When you approach LPU members for a loan letter, they will provide you with a form that needs to be filled and signed by your guardian. Once the form is completed, you will receive a loan letter. With this letter and other necessary documents, you can easily apply for an education loan at LPU. The bank will then disburse the fees to LPU either through a check or via online money transfer to the university account. For more information you contact LPU toll free number. I hope this helps. Thank you.

- Akshay SinghAnswered on November 23, 2023 11:13 AM

An education loan is a popular and practical solution for financing higher studies, which often come with high fees. Banks offer education loans for various courses, such as graduation, post-graduation, diploma, and professional programs, at attractive interest rates. LPU provides comprehensive assistance to students in obtaining these loans. Typically, students prefer to secure loans from their hometowns due to the convenience of the document process. LPU collaborates with leading government and private banks in India, including Punjab National Bank, ICICI, Karur Vysya Bank, and others. Additionally, LPU has partnerships with certain NBFCs like Afinoz, Credenc, Eduvanz, and more. A dedicated loan assistance cell at LPU handles all such cases. Once a student takes admission, they need to email their loan letter requirement to the Loan department. However, loan letters can only be issued after the student submits a loan application form to the Student Loan Assistance team, which may take up to two weeks. Many students at LPU are pursuing their studies with the help of education loans. To apply for a loan, you will need to submit documents such as PAN card, identity proof, photographs, residential proof, 10th and 12th mark sheets, as well as documents related to your guardian. LPU will also require the original prospectus, fee structure, and proof of admission. When you approach LPU members for a loan letter, they will provide you with a form that needs to be filled and signed by your guardian. Once the form is completed, you will receive a loan letter. With this letter and other necessary documents, you can easily apply for an education loan at LPU. The bank will then disburse the fees to LPU either through a check or via online money transfer to the university account. I hope this helps. Thank you.

- Akshay SinghAnswered on November 21, 2023 10:01 AM

Lovely Professional University has set up a separate loan assistance cell to enable the students, at the time of admission, to obtain loans from banks with which the university has tie-ups. Students can avail Education Loan Facility in the first year as well as in the subsequent years. The Students who want to apply for Educational Loan from any Bank need an offer letter from the University. The University will provide the requisite offer letter or alike document as required by the concerned bank for loan purposes, as and if deemed appropriate. LPU has MOUs with the following banks: • Central Bank of India • Punjab National Bank • Oriental Bank of Commerce • Karur Vysya Bank There are a number of banks and financial institutions that have given proposals or recommendation to extend loans to LPU students such as Canara Bank, Bank of Baroda, Andhra Bank, HDFC, IDBI, SBI, Union Bank of India, Allahabad Bank, United Bank of India, and many more. However, the students, who are availing this facility, and their parents are liable for any course of the deed. The responsibility for getting loan letter, the sanction of loan, repayment of the loan, and any other liability lie solely with the students/parents. The university will not be liable and responsible in this regards. LPU also has different bank branches inside the campus: • State Bank of India • Punjab National Bank • Oriental Bank of Commerce • Karur Vysya Bank • ICICI Bank

- rubinaAnswered on July 17, 2023 04:15 PM

An education loan is a good idea and a commonly sought after resort. Pursuing higher studies usually involves high fees and an education loan comes in handy at this point. Banks provide education loans for graduation/PG, diploma or professional courses, at attractive interest rates. LPU fully assists the student in getting a loan. Usually, the student prefers taking a loan from his native place as it is easier there as far as the document process is concerned. The LPU provides all assistance through its dedicated loan assistance department. LPU is having tie-ups or MOUs with all the leading Government and Private banks of India like Punjab National Bank, ICICI, Karur Vysya Bank etc. LPU is having tie-ups with some of the NBFC even like Afinoz, Credenc, Eduvanz, etc There is a separate loan assistance cell that looks into such cases. A student has to mail their Loan Letter requirement to the Loan department through email after taking admission. Loan letters can be sent to the applicant only after a student submits one loan application form to the Student Loan Assistance team. This process may take two weeks. Many students in LPU are studying with the help of an education loan. You have to submit documents like pan card, identity proof, photographs, residential proof, 10th, and 12th Marksheet, and certificate to the bank plus a few documents about your guardian. The LPU will ask you to submit the original prospectus, Fee structure, proof of admission, etc. When you contact LPU members for a Loan letter, they will give you a form. You fill it and get it duly signed by your guardian. After filling up the form, they will provide you with a loan letter. With the help of this loan letter and other documents, you can easily apply for an education loan in LPU. Bank will give you all fees to LPU via check or online money transfer to the university account.

- priyal BabbarAnswered on July 17, 2023 03:18 PM

Hello Kritika,
Yes, you can take a student loan for your academic year, however, Modinagar Institute of Technology offers scholarships as well on the basis of academic merit and financial need. For female students who have scored 80%+ in Class 12 will receive a 100% scholarship from the institute. For male students 85%+ in Class 12 is necessary for a 100% scholarship. Students with 75-80% (girls) and 80-84% (boys) will receive a 100% scholarship on tuitions fee and book bank free by Modinagar Institute of Technology.
Hope this was helpful. Feel free to ask for any more queries.

- Ankita SarkarAnswered on July 14, 2023 03:03 PM

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