Key highlights:
- What is National Youth Day
- Education Loans for Youth Empowerment - This National Youth Day
- How Can Avanse Financial Services Empower the Youth
- How To Apply for Avanse Education Loans?
- Basic Eligibility Criteria
- Some Important Documents
- Student Profile
National Youth Day is celebrated on 12 January, marking the birthday of Swami Vivekananda, and endeavours to harness the immense potential of youth, leading to national development. While National Youth Day highlights the need to equip young people with opportunities to realise their potential, an education loan acts as a facilitator to help many students pursue higher education and skill development. Let’s understand education loans for youth empowerment this National Youth Day.
What is National Youth Day
Education plays a crucial role in youth empowerment because it gives you the knowledge, tools, confidence, and opportunities to shape your personal and professional life. National Youth Day encourages the youth to dream, develop skills and make useful contributions to society. Swami Vivekananda is an Indian philosopher and author whose birthday is celebrated as National Youth Day to convert youth’s aspirations into opportunities and build their capacity to contribute meaningfully towards nation-building.
Education Loans for Youth Empowerment - This National Youth Day
What is an Education Loan
The biggest benefit of education is that it imparts knowledge and develops your skills, helping you build a promising career. An education loan is a financial product to help students such as you to cover their educational costs, including tuition fees, travelling expenses, accommodation, study material, and other academic expenses. It provides an opportunity for students to pursue studies in India or abroad. Thus, it helps make education more accessible to everyone, irrespective of immediate financial constraints. Let’s understand the advantages of education loans on this National Youth Day.
Benefits of Education Loans
Education loans eliminate the need to depend on family for financing and help students pursue studies without funding challenges.
Atmanirbhar
Education loans implicitly believe in the vision of Atmanirbhar Bharat by empowering the youth of this country to acquire knowledge, skills, and professional qualifications. The investment in education makes students self-reliant and skilled contributors towards the economy, bringing innovation, employment generation, and long-term national development. With education loans on this National Youth Day, you too can become independent and pursue your academic dreams.
Quality Education
Education loans facilitate the choice of institutions and courses that will best match your aspirations and abilities, rather than being constrained by considerations of cost. Education loans for young students enhance the quality of education by facilitating enrollment in reputed colleges and universities, thus helping build a well-trained and competent workforce.
No Need to Liquidate Assets or Family Savings
No need for liquidation of assets or family savings. It helps the family members not to liquidate any assets or use lifetime savings for a student’s education. In this way, the household may keep its financial stability and at the same time invest in a student’s future, balancing present needs with long-term goals.
Credit Score
Timely repayment of an education loan aids in building a good credit history from an early age. A good credit score improves future access to financial products such as a home loan, car loan or credit card, laying a strong foundation for responsible financial behaviour. Repayment of education loans for young students also instils financial discipline.
How Can Avanse Financial Services Empower the Youth
At Avanse, for a student, education loans for youth are designed keeping in mind their unique financial requirements. Therefore, you will benefit from customised education loans. Moreover, a study abroad education loan and a student loan to study in India are available too. You can enjoy 100% financing, quick loan sanctions and flexible repayment options.
Education loans are available for a plethora of courses, right from mainstream courses such as STEM and MBA to offbeat courses such as Food Technology, and from skilling, upskilling, and reskilling to vocational programmes.
How To Apply for Avanse Education Loans?
You can apply for an education loan in 4 easy steps:
- Fill out the online application on the Avanse website or visit the nearest branch office
- Speak to our educational loan consultants
- Share the documents
- Receive the student loan if you meet the criteria
Basic Eligibility Criteria
- Students can apply if they:
- Are Indian citizens who are 18 or older
- Have a confirmed admission before the final disbursal
- Have a co-borrower who earns in India
- For co-borrowers:
- Must be an Indian citizen and should be a parent, legal guardian, sibling or other blood relative
- Must have a bank account in India that allows them to sign cheques
- Must be the primary debtor
Some Important Documents
Here is a list of some of the important documents to enjoy a seamless education loan journey:
- For Students:
- 2 colour passport-sized photos
- Photo ID
- Residence proof
- Date of birth proof
- Signature verification
- Academic documents
- Proof of admission
- Fee structure
- For Co-applicant:
- 2 colour passport-sized photos
- Photo ID
- Residence proof
- Date of birth proof
- Signature verification
- Income proof
- Collateral documents (only for a secured student loan)
- 8-month bank statement
- Relationship proof
Student Profile
Please remember that lenders will thoroughly evaluate your student profile to determine your employability potential. Therefore, parameters such as your academic scores, entrance exam scores, and the pedigree of your university, to name a few, will be examined. Moreover, your co-applicant’s credit score will be analysed too. If you meet the criteria of your preferred financial institution, your student loan will be approved.
So, this is how education loans can empower you on National Youth Day. You can try our online calculators, such as the Education Loan EMI Calculator to understand the estimated EMIs, the College Course Expense Calculator to find potential college expenses and the Education Loan Eligibility Calculator to know the approximate loan amount you are eligible to borrow based on your current finances. If you want to know more about education loans, student loan interest rates, or have queries about your academic journey, please contact us. We will be glad to assist you.
