Education is the basic right of all the people of India. It is something that builds the youth of any country, which further proceeds to build up the whole nation. In today’s fast growing world, everyone wants to get educated to meet societal standards. It not only makes the person realize his or her true potential, capabilities along with the gain of knowledge but also builds one’s personality, attitude, and way of approaching things.
Education is a major source of primary as well as secondary socialization given to any individual. It imparts the required amount of information for the individual to interact effectively and comfortably with society. It makes us realise who we are and what our future might have held for us. But how many of us really get this basic right to education. Even if we complete schooling, the cost of attending a basic degree in college is way too expensive, so let’s not even consider the big central and state universities or any other private college and university. Every day the tuition fees are seeing a hike, and nobody can help it.
Many students simply can not follow their dream and cannot continue their education. For such students education loan is a miracle like a thing. It is like a grand solution for them to realise their chance of completing their education and to realise their true potential.
Steps to get an education loan
Following are the steps on ‘How can I get an education loan’:-
- Online application – Fill in the application form for loan approval. Basic questions related to academics and finance are being asked. Try to complete the form accurately and truly.
- Personal meeting – This is where the application, after the approval of the application form, gets to talk personally with the bank manager for the further process and course of action. Be very lucid and clear. Different banks give different details, different priorities, so try always to be completely consistent and to have an excellent record of academics. Make sure that you are clear about your course of study.
- Documents submission – All validated documents need to be submitted. Here admission documents carry great importance than other relevant documents. Student’s enrollment is verified by the institution. Collateral security or guarantor might be required so prepare well for that in advance as well.
- Approval – After the document verification and guarantor verification, the loan might get approved. Approval usually happens after a thorough check of each and every detail presented by the borrower.
- Undertaking – Student is the actual borrower of the loan, and parents act as guarantors. After the approval, an undertaking is taken for the repayment promise by both borrower and guarantor.
- Loan sanction – After the completion of all the above steps, the amount is sanctioned finally for the student’s education either to the student or to the University directly.
Education Loan in Delhi is exactly given by the same steps mentioned above. Delhi, being the capital of India, has different schemes offered by Delhi government. Delhi free education loan scheme has been launched by the government, especially for girl students. The main objective is providing financial assistance to economically weaker sections of society who cannot afford to enroll in university or college for higher studies. A great step for women empowerment and support.
Education is important and needed, so try to take benefits of the loan method present and live hours’ respective dreams.