An education loan is financing that helps students pay for tuition, books, living expenses and other education-related costs. LoanMarks helps you compare and apply for suitable education loan options.

You can choose between secured loans (backed by collateral), unsecured loans (without collateral), loans for domestic study and loans for studying abroad. Repayment terms and interest rates vary by product.

Eligibility typically depends on the applicant's admission to a recognized institution, co-applicant (often a parent) credit profile, income proof and course details. Specific criteria vary by lender.

Common documents include admission letter, fee breakup, ID proof, address proof, academic transcripts, proof of income for co-applicant and bank statements. Lenders provide a document checklist during application.

Use LoanMarks to compare offers, select a lender, and submit a single application with required documents. We guide you through pre-fill, document upload and tracking until disbursal.

Approval timelines vary — instant approvals may be available for pre-qualified applicants, while others may take several days to 2–3 weeks depending on verification and lender processes.

Interest can be fixed or floating and is calculated on the outstanding principal. Check the lender's rate sheet for APR, processing fees and any service charges to understand the total cost.

Many education loans offer a moratorium (interest-only or EMI-free) during the course and a short period after. Repayment options include EMIs, prepayment and part-payment depending on lender terms.

Yes. Scholarships reduce the loan amount required. Provide scholarship documentation to the lender so the sanctioned loan reflects the net funding needed.

Many lenders require a co-borrower (often a parent/guardian) for unsecured loans or when applicant credit history is limited. Co-borrower details are used to assess repayment capacity.

Login to your LoanMarks account and visit 'My Applications' to view status updates, required actions and document requests from lenders.

Reach out via the contact form below or use the LoanMarks helpline/email for personalized assistance with applications, documentation and post-disbursal queries.