Question 1

What is the Student Cover education loan procedure?

Accepted Answer

The Student Cover loan procedure is simple: fill up our form and you will be assigned your loan buddy; present your certificates and other documents so they can start your loan processing; your loan buddy will get back to you with your final offer, and you must present your identification documents; finally, once the loan is sanctioned, you must pay your processing fees, and your loan will be disbursed in another 3 to 4 business days.

Question 2

What are the student loan criteria at Student Cover?

Accepted Answer

Applicants must be Indian citizens, generally between 18 and 35 years old, with secured admission to a recognized foreign university or institution. A strong academic record enhances the likelihood of approval. Loans are often available for undergraduate, postgraduate, or professional courses, particularly STEM, management, medicine, or other professional fields, and a co-applicant such as a parent, guardian, or spouse with a stable income is typically required. For unsecured loans, university and course ranking and future earning potential post-graduation are also considered.

Question 3

Is Tata Capital a good place to seek education loans from?

Accepted Answer

Tata Capital is a very good option for education loans, offering competitive rates and flexible repayment options, with both secured and unsecured loans available for students with a range of financial needs. It's still best to compare with other lenders like public banks and NBFCs through Student Cover to find the most favourable terms for your situation.

Question 4

Can I get a 100% education loan from Tata Capital?

Accepted Answer

If you have all your documents ready, along with your expense proof of living and studying abroad, you can get a 100% loan from Tata Capital. Visit the Student Cover website and chat with your loan buddy for more information.

Question 5

Which NBFCs offer the best Student Loans?

Accepted Answer

The top NBFCs offering education loans through Student Cover include Tata Capital, InCred, Avanse Financial Services, Auxilo, Credila, and M-Power.

Question 6

Can we get a 0% interest rate on our educational loans?

Accepted Answer

No bank or NBFC can offer a 0% interest rate on education loans. However, you may get the lowest interest rates according to your credibility and documents by contacting Student Cover for assistance.

Question 7

Can Tata Capital provide me with a ₹2 Cr loan for my education?

Accepted Answer

Tata Capital usually provides up to ₹1 Cr for higher education. If you need a higher amount, you can apply for scholarships and sponsorships to cover the discrepancy.

Question 8

What is a collateral loan?

Accepted Answer

A collateral loan is something that you get by mortgaging your property. For example, if you have a property worth ₹60 lakhs, you will get a loan worth that property.

Question 9

What is a Non-collateral Loan?

Accepted Answer

A non-collateral loan is something that you get without the need to mortgage anything. However, you must present your and your co-borrower's income proof to ensure that you can pay off your loan.

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