At Chandigarh University, Uttar Pradesh, we believe in turning aspirations into reality. We understand that financial constraints shouldn't hinder a student's pursuit of higher education. That's why we're committed to supporting students in accessing the necessary funds.
Chandigarh University has set up a separate loan assistance cell to accommodate the students during the admission process (Online or Offline) to acquire loans from university-partnered banks. Our dedicated Loan Assistance Cell ensures a smooth loan application process, making it easy for students to secure funding during both online and offline admissions.
Students can now avail a loan of up to Rs. 20 Lakh without collateral.
The question should ideally be, why choose an Education Loan over a personal loan, or the money accumulated in your savings account? The versatility and advantages of Education Loans are listed below-
From Applicant/Student
From Chandigarh University, Uttar Pradesh
From Parents / Guarantor
The average tenure for a study loan is between 10-15 years after completion of the course at Chandigarh University.
The interest rate (ROI) is determined by the loan amount and the particular scheme provided by the bank for students of Chandigarh University. It also differs among banks, in accordance with the RBI guidelines that apply at the time the loan is approved.
To avail a study loan, you must be at least 18 years old. If you are a minor, one of your parents can serve as your guardian and obtain the loan in your place. Most banks set an upper age limit of 35 years, and loans are not granted if the applicant exceeds this age.
Students should be Indian citizens and must have gained admission to Chandigarh University, Uttar Pradesh based on merit through the entrance examination or selection procedures detailed in the prospectus.
The applicant’s annual family income, along with the course being pursued, plays a key role in determining the eligible loan amount.
The loan amount and the bank's policies each have an impact on the collateral requirement:
Common types of accepted collateral include LIC/NSC/KVP, fixed deposits with the lender, or property documents owned by the applicant or co-signer.
A guarantor is usually required for education loans. However, some banks or schemes may waive this requirement for exceptional profiles.
The minimum loan amount is ₹50,000, as offered by most banks.
Chandigarh University’s dedicated Loan Assistance Cell streamlines the loan application process, providing seamless support for both online and offline admissions.
While most students lack prior credit histories, lenders use a specialised credit scoring model for study loans. This model evaluates the university, college, course, and the student's academic background. Additionally, the co-borrower’s credit history plays a crucial role in the loan approval process.
EMI stands for Equated Monthly Installments, which include both principal and interest components of the loan. The EMI is determined by the loan quantity, interest rate, and repayment term.
You can choose the repayment tenure that best fits your financial situation.
Repayment begins either one year after completing the course or six months after securing a job, whichever comes first. A minimum monthly payment equivalent to the EMI is required. However, you can pay more than the EMI without incurring any prepayment penalties.
Yes, a co-applicant is mandatory for all full-time courses. The co-applicant can be a parent, guardian, or spouse (if married).
Your parents, guardian, or spouse (if married) can act as co-borrowers. The co-borrower should have a stable income and a good credit history to improve the chances of a successful loan application.
The maximum limit depends upon academic fees + hostel fees/transport fees/books stationary/re-equipment fees as mentioned in the prospectus or asked by the institution.
The academic, transport, and hostel fees are directly disbursed to the institute as per their schedule and fee structure, typically through a demand draft. Other components of the loan, such as expenses for lab equipment, laptops, uniforms, and travel, can be claimed separately and are provided directly to the loan applicant.
Employment verification is a process where banks independently verify the employment details of the loan guarantor, usually the parent, guardian, or spouse (if married) of the student applying for the study loan. If the provided details cannot be confirmed, the lender may reject the loan application.
The moratorium period, also called the holiday or interest-free period, is the time granted by the bank before loan repayment begins. Typically, this is 6 months to 1 year after the successful completion of the course or once the borrower secures a job, whichever comes first.
If there is a break in studies or the borrower takes a sabbatical, it is at the bank's discretion whether to extend the moratorium period.
The interest accumulated during the moratorium period is added to the principal loan amount, and the EMI is calculated based on this combined amount when repayment starts.
Yes, borrowers are eligible for tax benefits on the interest paid on a study loan under Section 80E of the Income Tax Act.
Most banks do not charge a prepayment penalty on study loans. However, it’s advisable to confirm this with the bank before finalising the loan agreement.
No, having an account with the bank is no longer mandatory to apply for a study loan. However, having an account can make the process easier, as the bank can quickly analyse your past financial records and transactions, leveraging your existing relationships for faster loan approval.
Indeed, students can obtain a loan for advanced studies, like a master's degree, without having to repay their initial bachelor's degree loan. This can be availed as a top-up loan on the existing one, subject to the bank’s discretion and its internal policies.
Yes, most banks offer a 0.5% concession on the applicable study loan interest rate for girl students pursuing higher education in India or abroad.
No, there are no charges or processing fees.
The loan amount will be disbursed in installments directly to Chandigarh University.
Yes, a study gap of 1–3 years will not be an obstacle. However, you must meet the admission eligibility criteria of Chandigarh University to qualify.
Yes, you can avail a study loan from banks partnered with Chandigarh University. You can view the list of partnered banks on the university's official website.
Paying interest on your study loan during the moratorium period can earn you a 1% reduction in the interest rate for that period. It’s advisable to research thoroughly, visit two or three banks, compare their terms and conditions, and choose the one that best suits your needs.
Yes, you need to request your bank manager to provide a copy of the sanction letter. This letter should include details such as the loan amount, rate of interest (ROI), student’s name, and terms and conditions.
A demand letter is automatically generated for each sanctioned loan case where the sanction letter has been uploaded to the portal. Once the semester fee is due, as notified by the Registrar's Office and the Accounts Department, students can download the demand letter for the upcoming semester fee from the loan status section. Any advance payments or scholarships availed will be adjusted accordingly, or students can apply for a refund for any excess amount paid.
Vidya Lakshmi Portal is a one-stop platform for students to apply for educational loans and government scholarships. It enables multiple bank applications and grievance redressal.
Vidya Lakshmi Portal provides a single window for students to access information and make applications for educational loans provided by banks and government scholarships. It has the following features:
Chandigarh University offers an exclusive opportunity for students to apply for Short-Term EMI Loans, making education and associated costs more accessible for those facing financial constraints.
Convenient Application Process: Students can apply online through the University's portal.
Short-term loans are available to the students experiencing a low-bar financial crisis.
Parents or guardians of students studying at Chandigarh University are eligible for the EMI plan.
The applicant/co-borrower must:
Applicant/Co-Borrower should be salaried/self-employed.
Yes, you have the flexibility to choose the EMI that suits your convenience.
You can resume your application anytime by using the same phone number you previously registered with. The form will allow you to continue from where you left off.
Monthly installments are auto-debited from your bank account through the ENACH mandate set up during the disbursal of your monthly fee payment plan. Alternatively, you can pay online via net banking, UPI, or debit cards.
Yes, a valid CIBIL score is mandatory for the applicant or co-borrower to be eligible for the EMI service.
No, there are no hidden charges. Most services have zero additional costs. If there are any applicable charges, they will be clearly communicated prior to signing up.
Applicants need to provide KYC documents as per regulatory requirements, including:
If additional documentation is needed, our team will contact you.
Yes, all your data is securely stored on a private cloud server.
Yes, once you’ve signed up and completed repayment, you can seamlessly renew the facility for future fee payments.
Chandigarh University has a dedicated team that assists in selecting the most suitable EMI plan based on your needs, in collaboration with their EMI service providers.
The ROI depends on the repayment tenure chosen by the applicant and the terms and conditions of the EMI services.
After the applicant pays the upfront charges or one advance EMI, it takes up to 48 working hours to disburse the fee to the University's bank account (excluding Sundays and government holidays).
Yes, the course fee can be paid either all at once or annually, depending on the repayment capacity of the applicant or co-borrower.
The EMI Services Monthly Fee Payment Plan can cover up to 100% of the course fee, depending on the applicant’s profile and the credit worthiness of the principal borrower.
No, collateral or security is not required for the Monthly Fee Payment Plan.
If the applicant fulfils the eligibility requirements and completes the online process, the disbursement to the institute can be processed within 24 hours.
The repayment schedule begins on the date of loan disbursal or the start of the course, whichever comes first.
The repayment schedule will commence immediately from the date of loan disbursal or the commencement of the course at the institute (whichever is earlier). The borrower is required to pay the first installment on that date itself.
For more details log on to https://www.7nishchay-yuvaupmission.bihar.gov.in/
From Applicant/Student
From Chandigarh University
From Parents / Guarantor
The average tenure for a Study loan is between 5-7 years after completion of course at Chandigarh University
ROI for Boys 4% & for Girls 1% per annum.
You should be 25 years of age to avail a study loan for Graduate courses & for Post Graduate Courses it is 30.
Students should be an Indian National & have secured admission on merit basis through entrance test or selection process of Chandigarh University mentioned in the prospectus. Passed 12th exam from Bihar state and neighbour states.
No Caping.
No Caping up to Rs. 400000/-
Single Semester Fee
No Caping
EMI stands for Equated Monthly Instalments. This instalment comprises both principal and interest components. Your EMI would be calculated depending on the tenor you choose, to repay your loan. The EMI would be higher if you choose to repay within a shorter period as against a longer-term loan. A shorter repayment period, however, reduces your interest cost over the term of the loan.
The repayment would begin one year after the course period or six months after you get a job, whichever is earlier.
Yes, for all full-time courses a co applicant is required. The co-applicant can be Parent/Guardian or Spouse (if-married).
Your parents/ guardian can be a co-borrower as well as spouse in case of a married applicant.
DRCC office pre decided Rs. 400000/- maximum sanctioned amount and they divided it to equal semester fee as per duration of course.
No Caping
The academic fee and hostel fees are disbursed directly to the institute as per their schedule and fee structure usually in the form of NEFT. Other components of the loan such as personal living expenses, Laptop Fee, Books & Stationary fee to the student registered bank account at DRCC at the time of agreement.
No Caping
DRCC charged only 1% ROI from Girls.
NIL
The loan amount will be disbursed in stages directly to the Chandigarh University as per Disbursement schedule shared by DRCC at the time of sanction and agreement.
1–3-year gap in study period will not be an obstacle. What is required is that you should qualify for taking admission in Chandigarh University as per admission eligibility criteria.
If Hostel Seat Not Booked, DRCC provide Rs. 48000/- living expense direct to student's bank account per annum basis (For which no hostel fee letter required by the DRCC office).
Yes, kindly ask your DRCC Office to provide the sanction letter copy in which loan amount, Schedule of payment disbursement-expected date and type of payment & Bank Account number in which payment disbursed in future are mentioned.
Once you get Sanction Letter Upload PDF Copy of sanction letter CUIMS-Apply for Loan Documents-Loan Status-Upload Sanction Letter & Share same copy to edu.loan@cumail.in with UID/Admission number. Also Keep A copy with you for future reference.
Yes, It is required by the DRCC Office. Students must submit an attested copy of the result at 7-Nischay Portal when he/she asked DRCC office to release the upcoming fee.
Sometimes if the result is not declared, students can ask for a promotion letter to release the subsequent payment from the DRCC. Students can obtain a Promotion letter from the Registrar office by drop mail to edu.loan@cumail.in with a sanction letter copy.
Students must make prior arrangement of all expenses which is not covered in the DRCC Sanction letter on time as per notification issued by the Registrar office to clear the fee at every semester. You can take EMI option within the specific time to clear these dues from our EMI service provider available on student CUIMS payment section.
TPVA is the third-party verification authority hired by Bihar Govt to verify the student’s details like admission status, course name, current semester, tentative due date of payment & Bank account number where BSEFCL send the payment semester wise.
As per previous records we have, the average time consumed by DRCC office to process a study loan application from beginning to disbursement 90-120 working days. It is also dependent upon the student Curiosity to complete all step-by-step paperwork and formalities in different phases.
All the students are advised to clear the pending dues on time until study loan sanctioned by DRCC. Once Student received sanctioned letter from DRCC, advised to upload on CUIMS and discuss the case one to one at admission department block A1 to judge the case for your convenience.
Student advised to bring sanction letter copy to admission department to judge how much amount credit to the University's bank account against total fee pending during the course. If University received extra fee other than complete course fee at a time it will be refundable or adjustable in future as per student choice.
West Bengal students can avail the benefits of the West Bengal Student Credit Card Scheme to pursue Study without having any financial constraints. The Higher Study Department, Government of West Bengal has designed this scheme to support the students who choose to study further- in secondary, higher secondary, madrasa, undergraduate and postgraduate studies including professional degree and other equivalent programs in any school, Madrasa, College, University or other affiliated institutes within and outside India. Maximum loan amount Rs.10,00,000/- (Including Semester Fee/Hostel Fee/Other Expenses).
For more details log on to https://wbscc.wb.gov.in/
To realize our vision of providing every student the chance to access higher education, Chandigarh University has joined hands with the Jharkhand Government to offer financial aid to students to fulfill their career aspirations.
An overarching goal of the State Government is to guarantee that every student has the chance to access higher education in the top institutions of the country, regardless of their economic constraints. Under this scheme, collateral-free and fully guaranteed education loan up to Rs 15 lakh is offered to help students pursue their higher education. This commitment aims to eliminate any barriers that might prevent students from pursuing further studies due to financial constraints.
For more details, log on to https://www.gsccjharkhand.com/
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