Education Loan for Nursing

Nurses are often believed to be the backbone of the medical industry. From administering medication and monitoring patient vitals to assisting in surgeries and managing day-to-day patient needs, nurses do it all. And the first step towards this promising career is applying for a Bachelor’s of Science in Nursing.

This four-year undergraduate course puts you on the track to a successful nursing career. What’s more, you can apply for an education loan for BSc nursing to finance your education conveniently and without financial burden.

Here, we discuss everything you need to know about an education loan for BSc nursing, from the eligibility criteria to its application process.

Education Loan for BSc Nursing

While many institutions today offer scholarships and grants which can provide financial support, education loans for nursing students remain one of the best options for those looking to finance their education. Here’s why:

1. Convenient Financing for Education: An education loan for nursing students allows you to fund your course without jeopardising your financial stability.

2. Significant Loan Amount: You can get high loan amounts through education loans to help you cover all direct and indirect expenses of education.

3. Flexible Repayment Schedules: Education loans allow you to start repayment after completing your education. This allows you to concentrate on your studies without any financial burden.

4. Extensive Loan Coverage: An education loan for nursing students covers all facets of pursuing an educational course, not just the tuition fees. With this loan, you can meet living expenses such as the cost of food, groceries, local conveyance, rent, etc., and other expenses such as the cost of the laptop, books, laboratory fees, etc.

Eligibility Criteria for Education Loan for BSc Nursing

The eligibility criteria for an education loan for nursing students can differ with the lender. Here are some general criteria you should meet for a successful application:

• You should have completed 10+2/diploma
• You should be between the ages of 18 and 35 years
• You should require the loan to pursue education from a listed, recognised and accredited institution in the country or abroad
• You must be able to provide a pre-admission sanction document, scores on entrance tests such as GRE, GMAT, etc., 12^th/HSC results, or a document confirming your admission
• Your parents, siblings, spouse, grandparents, parents-in-law or maternal/paternal uncle must be a co-borrower

Be sure to check your chosen lender’s eligibility criteria thoroughly before applying. Tata Capital offers education loans for nursing students with easy eligibility criteria.

Documents Required for Education Loan for BSc Nursing

While the documents required for a successful education loan application vary with lenders, here are some of the documents you might have to submit:

• Proof of Identity: PAN Card, Passport
• Academic Documents: The lender might require your 10th mark sheet, 12th mark sheet, available semester mark sheet/transcript, degree, exam scores (GRE, IELTS, TOEFL, GMAT, other)
• Financial Documents: The lender might require salary slips for the past three months, Form 16 of the previous two years, ITRs of the last three years, business proof, P&L accounts, balance sheet, bank statements for the last six months

Education Loan for BSc Nursing: Application Process

Every lender will have their own application process. However, here are some general steps to follow:

Offline Process

Step 1: Visit your chosen lender’s nearest branch

Step 2: Complete the process as per the direction of the executive

Step 3: Once your application is verified, you will receive the loan amount

Online process

Step 1: Navigate to your chosen lender’s official website

Step 2: Fill the form online and upload all necessary documents

Step 3: Once your application is verified, the loan amount will be sanctioned

Final Thoughts

Pursuing a Bachelor’s in Nursing can be an extremely gratifying and fulfilling career option. Equipping you with all the training you need to offer sound medical treatment, this four-year undergraduate course can help prepare you for a successful career in the medical field.

However, it can put a strain on your finances as well. Fortunately, you can apply for an education loan with Tata Capital. Offering high loan amounts, attractive interest rates, pre-admission sanction, easy disbursal, and without any collateral, Tata Capital’s education loan helps you achieve your professional dreams without any financial burden. So consider Tata Capital’s education loan apply today!