Congratulations on receiving an acceptance letter from your dream university! Now, to finance your tuition fee, living costs, and other expenses, you can consider opting for education finance. It is a ray of hope for students who aspire to study in premier institutes and are looking to manage their educational expenses.  

Loans for education come with a pretty simple application process. First things first, you must write a letter to the lender requesting them to sanction your loan. Read on to understand how to write an education loan application letter.

Sample letter for education finance

After you have selected a lender, you must write a loan application letter to them explaining your academic and financial situation. You must talk about the degree you wish to pursue and the institute you have been accepted in. Furthermore, you must present your academic records, entrance/foreign exam scorecard, acceptance letter, and other relevant documents to make a convincing case for why you deserve the opportunity.

Besides, assure the lender that you will complete your studies and fetch a good job. Here’s a sample letter to make things clear for you.

Additional Read: Things You Need to Know about Education Loan Sanction Letter

To

The Bank Manager

ABC Bank

XYZ Branch

Address

City

From

Anita

Address

City

Date: XX/X/20XX

Subject: Application for the education loan

Sir/Madam

I am writing this letter to apply for a student loan to pursue higher education in English Literature. I recently completed my Bachelor’s in English Literature from the University of Delhi with a 9.7 CGPA. Besides, I scored 85% marks in the All India Senior School Certificate Examination (AISSCE) with a Science background.

I applied to the University of Pennsylvania for a full-time Master’s degree in English and have been selected for the programme. The total hostel fee, cost of education accessories, tuition fee, and boarding expenses in the United States is approximately Rs. 20 lakhs.

Due to my humble family background, I’m unable to afford the cost and require financial assistance. I request you to grant me a personal loan for higher education at this prestigious university. I will repay the loan amount on time.

I have attached my academic records, credentials, acceptance letter and other relevant documents with the letter. I am looking forward to your response.

Thank you.

Yours sincerely,

Anita

After formally putting your request forward with a student loan application letter, you must wait for the lender to approve and sanction your loan.

Additional Read: Recent Changes Happening in Higher Educations in The New Normal World

Need help financing your education? We can help!

Getting a solid education is a stepping stone towards a promising career. Therefore, you shouldn’t have to compromise your dreams due to a shortage of funds. At Tata Capital, we offer customisable loans with competitive personal loan interest rates to help you pursue your education in India and abroad. You can avail of an amount depending on your needs and loan eligibility.

What’s more, with Tata Capital, you can apply for a student loan online and get a hassle-free experience with minimal documentation and fast approval. So, without further ado, visit our website and apply for education finance today!

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