Applying for loans is always tiresome, but do you know you can
apply for multiple education loans using a single window platform. which acts
as a platform to monitor scholarships and administer your educational loan
requirements. All you need to get started is to register on the portal and
fill the form to search for educational loan offered by various banks.
The portal also hosts a
link (National Scholarship Portal) for students seeking government
scholarships.
The portal has the following feature :
- Common educational loan application form for students
- Facility to apply to multiple banks for educational loans
- Facility for banks to download students' loan applications
- Facility for banks to upload loan processing status
- Facility for students to e-mail grievances/queries relating to educational loans to banks
- Dashboard facility for students to view status of their loan application
- Linkage to national scholarship portal for information and application for government scholarships
The
portal has been developed and maintained by NSDL e-Governance Infrastructure
Limited (NSDL e-Gov) under the guidance of Department of finance ministry
Earlier,
the Union Finance Minister ArunJaitley in the Union Budget for 2015-16
had proposed to set-up a fully IT based Student Financial Aid Authority to
administer and monitor Scholarship as well as Educational Loan Schemes, through
the PMVLK to ensure that no student misses out on higher education for lack of
funds.
3 easy steps to apply Education loan
- You will need to register on the portal
- Fill-up the Common Education Loan Application Form by providing all the necessary details. This is a one-time procedure.
- After filling the form, you can search for educational Loan offered by various banks and apply as per your needs, eligibility and convenience.
Student Loans in India
can view the status of their application on the dashboard. If the loan is
rejected, the student will have to contact the individual bank for more
details. In case the bank puts the application on hold because it may require
additional information, that will be indicated in the dashboard, which students
will come to know when they log in to the portal. The loan, once approved, will
be disbursed directly by the bank outside the portal.
Source : http://indiatoday.intoday.in/money/story/you-can-apply-for-multiple-education-loans-using-a-single-window-platform/1/487599.html
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