Looking at the eligibility and documentation criteria to get student loans for New Zealand

1. Looking at the eligibility and documentation criteria to get student loans for New Zealand

2. New Zealand houses some of the best universities in the world. The most famous courses there are of course, the ones related to the travel and hospitality industry. Scores of students fly to New Zealand to study hospitality courses every year. To help those students, many lenders offer education loans. This article will help students understand the eligibility criteria and documentation needs to get student loans for New Zealand. • To get a loan, the student and the co-borrower would have to fulfil the following eligibility criteria:

3. Student eligibility criteria Be an Indian citizen. Be above 18 years of age. If the student is not then the parents of the guardian would have to apply for a loan on the behalf of the student. Display good academic performance. Have an admission proof into a college approved by the lender. Have applied for a course that is job-oriented.

4. Co-borrower eligibility criteria Students who apply for a full-time course need a co-borrower to get student loans for New Zealand. A co-borrower in most cases, is either a parent or a guardian. The repayment of the loan lies on their shoulder if the student is unable to pay back the loan after completing his education. The co-borrower must: Be an Indian citizen. Have a reliable income source. Have a good credit score. Be either a parent or a guardian (Spouses of married people can be considered as co-borrowers as well)

5. Student documents required A filled loan application form. Couple of passport-sized photographs. Identity proof (AADHAR card/ PAN card/ Passport) Residential proof (Electricity bill/ Gas bill/ Water supply bill) Academic mark-sheets and certificates Competitive exam mark-sheets (GRE/TOEFL/ GMAT) Admission proof from the university approved by the lender A log of potential expenses incurred while studying the course

6. Co-borrower documents required The co-borrower’s documents generally required are: Couple of passport-sized photographs. Identity proof (AADHAR card/ PAN card/ Passport) Residential proof (Electricity bill/ Gas bill/ Water supply bill) The details of the loans held presently by the co-borrower.

7. If the co-borrower is a salaried employee then they need to submit these documents additionally: • Salary slip of last 3 months. • Income tax returns. • Salary account statements of last 6 months. If the co-borrower is self-employed then they need to submit these documents additionally: • Qualification certificate (B.E certificate if the co-borrower is an engineer). • Address proof of the business office. • Income tax returns. • Bank account statement of last 6 months.

8. A necessary tip: Apart from these documents, you also need to open a savings account in a bank in New Zealand and deposit in it the money needed for a year’s living expenses there. Also submit a proof of funds for studying the course of your choice to the New Zealand embassy to press a step forward to study there. All the best!

9. We hope this article was helpful to you.