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STUDENTS’ EDUCATIONAL LOANS

ICL Group of Colleges assist the students to get educational loans from the nationalized bank  like  State Bank of India (SBI), e Punjab National Bank (PNB). The students can apply fro educational loan from the permanent residence/native place only.

The parents can forward applications to SBI and PNB banks and process the loan documents under their own arrangements with guidance of ICL Group of Colleges. At the same time, the processing of the loan applications can also be carried out by ICL Group of Colleges for the needy students.

Students’ Educational Eligibility
The following students are eligible to avail the loan facilities:-
• Graduates in any stream pursing post graduate courses
• Students pursuing professional degree courses (Engineering, Hotel Management and Architecture)
• Student pursuing degree course

Parents’ Eligibility
The parents of the following category can avail educational loans for their ward
• Government Employees
• All Income Tax Payees
• Businessmen having balance sheet and sale tax record
 
Documents Required

Documents to be given by Parents/Students
• Loan application form duly filled with College assistance (Loan application can be obtained from the Director Administration)
• Income Proof by Parents
• Income Tax Return of Parents
• Govt employee may submit Salary slip and Form 16 only
• Parents with business background to submit Balance sheet, sale tax records and work place addre
• Proof of Residence (Ration Card, Passport, Driving License, Identity Card by College, Copy of Electricity/ telephone bills or documentary evidence), duly attested
• Proof of Age (Educational Certificate, PAN or any other documentary evidence)
• Identity proof of student (PAN, Driving License, Identity Card by College, Voter Identity Card or any documentary evidence), duly attested
• Photographs of Father and student – 4 Copies each
• Aadhar card

Documents to be given by Institutes
• Admission Letter from College
• Fee structure of the course
• Affiliation letter of Institute

Educational Loan Amount
An Educational loan amounting to Rs 4 Lakhs can be availed from any bank without any guarantee. No processing charges would be charged from the students availing the loan amount upto Rs 4 Lakhs.
The students desirous of availing the loan amount more than 4 Lakhs will have to furnish guarantee in the form of immovable property or Fixed Deposit Receipts (FDR). An amount of Rs 5000/- would be charged as the processing amount for loan amount above Rs 4 Lakhs.

Procedure
• Parents to accompany the student
• Submit all documents to the bank
• Students from outside, say, Bihar and HP to check after fifteen days from the bank

Disbursement
The loan amount would be disbursed by the Banks to the institute directly.
Incase the students have paid the fee before the disbursement of the loan amount; the deposited amount would be refunded to the students by the Institute.

Preparation of File
Director Administration and the Accounts staff would guide and help to prepare the file of the students for bank loan.

Contact Persons for Educational Loans Lt Col JS Virk (Retd) - 08607002229
 
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