• Academic Qualifications: Typically, borrowers must have secured admission to a recognized educational institution, whether it’s a university, college, or vocational school.

  • Age Requirement: Most lenders require the borrower to be of a certain age, often ranging from 18 to 35 years old. Some lenders may have different age requirements for specific loan types or programs.

  • Course and Program: The course you intend to pursue should be eligible for the loan. Some lenders may have restrictions on certain programs or fields of study.

  • Co-borrower or Guarantor: Depending on the borrower’s financial situation and credit history, lenders may require a co-borrower or guarantor, especially for large loan amounts. This person is typically responsible for loan repayment if the primary borrower fails to do so.

  • Residency Status: Lenders may have specific requirements regarding the borrower’s residency status. Some loans may only be available to citizens or permanent residents of the country where the loan is being taken.

  • Credit History: While some lenders offer loans to borrowers with limited or no credit history, a positive credit history can improve eligibility and potentially result in better loan terms.

  • Income Stability: Lenders may assess the borrower’s income stability and repayment capacity. This could include employment history, salary level, or proof of income.

  • Collateral: Depending on the loan amount and lender policies, collateral may be required to secure the loan. Collateral could include property, investments, or other valuable assets.

  • Loan Amount: Eligibility criteria may vary based on the loan amount requested. Larger loan amounts may require more stringent eligibility requirements.