What are the factors required for the eligibility for an education loan?
Applying for a loan has different steps that you need to take care of. To begin with, you have to first look at the interest rate, the tenure, the security needed, etc. While these things might make the procedure of applying for a loan look easy, there’s one important thing that cannot be overlooked and that is the eligibility part.
Like everything else, there is a specific criterion when you are looking to apply for a loan. Especially when you are applying for a student loan, as there are many things that you need to be clear about before you apply for a student loan. So here are four factors related to student loan eligibility:
1. The applicant has to be of legal age:
When you apply for a student loan, you will be mostly applying for it after you have finished your schooling and matriculation. Most student loans that are offered are either for a bachelor’s degree or a master’s degree. This is one of the main factors for educational loan eligibility. You have to be above 18 to be eligible for the loan.
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