Is there an upper age limit for a student loan?

There is no upper age limit for students applying for student finance but if the student is over 60 the amount they can get depends on their household income. Students can usually only get student finance for their first higher-education qualification.

Can a retired person get education loan?

Even the income of parents’ also need not be taken into account. So even in case your father has retired and you do not have any collateral assets to offer, you can easily get a loan up to Rs. 4 lacs from any national bank in India, provided the course is approved by the Indian banker’s association.

Is there any limit for education loan?

Under education loan scheme, you can get a maximum of 15 lakhs for studies in India and more 25 lakhs for abroad studies. If the loan is above 7.5 lakhs, you will have to furnish the bank with collateral documents.

Can Over 60s get a student loan?

Yes, you can get a student loan if you are over 50 years of age.

What age can you apply for student loans?

Most lenders require you to be a U.S. citizen or legal resident with a Social Security number. You’ll also generally need to be at least 18 years old and hold a high school diploma or equivalent. Use the loan for education purposes.

Can older adults get student loans?

Federal student aid generally does not have any age restrictions. Graduate and professional students are eligible for Stafford loans each year. They are also eligible for the Grad PLUS loan. The Department of Education has a helpful resource on Federal Student Aid for Adult Students.

What are requirements for education loan?

Documents required for an Educational Loan:

• Duly-filled application form.
• 2 passport size photographs.
• Graduation, Secondary School Certificate, or High School Certificate or mark sheets.
• KYC documents that include ID, address, and age proof.
• Signature Proof.
• Income Proof of parents or guardian.

Can I get 40 lakhs education loan?

Overview : Axis Bank Education Loan Online Established in 1994 as UTI Bank, Axis bank provides education loans to students who want to study in India or abroad. The quantum of education loan ranges from Rs. 50,000 to Rs. 40 lakhs.

What is the amount for an education loan in India?

If you have been selected for any of the IIMs or IITs, you will get an education loan upto Rs 35.00 lakhs without any colateral but your parents will also sign the documents with you. You will start repaying the loan one year after completion of your program ( course ) in next 15 years .

What is the age limit for an education loan on property?

The age limit for an education loan on property differs based on your occupation or source of income, viz. – Salaried applicants – 33 to 58 years. Self-employed applicants – 25 to 70 years.

What is the age limit for education loan abroad?

Salaried individuals have to be between 28 and 60 years* of age while self-employed individuals have to be between 25 and 70 years* of age to become eligible for an education loan for abroad studies. *The upper age limit is considered as the age at the time of maturity of the loan Is there any age limit for education loan on property?

What are the education loan eligibility criteria?

The vital education loan eligibility criteria that the candidates need to fulfil to get approval for the loan are listed out here: The candidate applying for the loan must be a resident of India. He/she must have confirmed admission in recognised educational institutes in India or abroad.