Education Loan Eligibility Calculator: Instant Student Loan Check

Loan Amount ₹
Interest Rate % (Annual)
Loan Tenure (Years)
Moratorium Period
Guardian/Co-Applicant Income
Age
Estimated Monthly EMI ₹8,33,632
Total Interest Payable ₹35,01,43,382
Total Payment ₹40,01,43,382
Interest Share 87.5% of total
Payoff Timeline Start Dec 2025 → End Nov 2065

Getting the best education is the dream of every student. Indeed, one can get the best education from the best colleges and universities. But the dark reality is that one cannot get the best education without having the proper funds. So, many students or their parents opt for an education loan to fulfil these dreams.

But how much loan can I afford, and how much loan am I eligible for? To lessen this tension, EMI Calculator AI brings you the education loan eligibility calculator. It is an online tool that provides a quick overview of your loan eligibility by asking for your financial information.

What is an Education Loan Eligibility Calculator?

It is an online tool offered by lenders such as banks and Non-Banking Financial Companies to calculate how much loan you qualify for. It considers factors like loan amount, interest rate, loan tenure, moratorium period, Co-applicant income, and borrower’s age. Unlike other EMI calculators, which focus on calculating repayments, and EMIs eligibility calculator’s main focus is to assess the borrower’s eligibility. 

Lenders may also provide a broad education loan eligibility calculator, which is helpful when you have multiple institutions in mind. Using this, you can compare the value and fee structure of one institute to the other..

How Does the Student Loan Eligibility Calculator Work?

Typically, it computes the amount of loan based on lower EMIs. Lenders believe that EMIs cannot exceed 40-50% of the monthly after-tax income.

Steps to use it:

  1. First, add the loan principal amount 
  2. Then add the loan term, interest rate and tenure.
  3. Then add a moratorium period.
  4. Add the Co-Applicant’s income and the age of the applicant.
education loan eligibility calculator

SBI Education Loan Eligibility Calculator Based on Salary

It is quite popular since there are numerous education loan programs of the State Bank of India. On the SBI website, EMI and payback calculators are mostly available, but the site also examines the income of the co-borrower and other details to determine if he or she is eligible.

You can determine whether you can use SBI with the help of a third-party tool or a branch consultation, which will consider salary multiplying (usually, up to 10-15 times your annual earnings, depending on the plan). Once you know your eligible loan amount, use our education loan EMI calculator to plan your monthly repayments after the moratorium period.

Factors Affecting Education Loan Eligibility

Besides the financial status of the borrower, there are several factors. Lenders go through all these details before approving the loan.

  • Academic Profile: The Student’s academic profile greatly matters. Brilliant students are appreciated and are more likely to get loans and scholarships.
  • Co-Borrower’s Financials: Stable income, credit history, and debt-to-income ratio. Students during studies are mostly unable to repay EMIs, so their parents’ income matters the most.
  • Collateral: if you are ready to mortgage any property or some security to apply for a loan, then your eligibility will increase.
  • Course and Location: Loans for high-ranked institutions or abroad studies may have relaxed criteria.
FactorImpact on EligibilityTypical Requirement
Co-Borrower SalaryHigh – Direct multiplierMinimum ₹25,000-₹50,000 monthly
Credit ScoreMedium – Affects approval and rate700+ preferred
Collateral OfferedHigh – Increases loan amountProperty/FD for loans > ₹7.5 lakhs
Course/UniversityHigh – Premier institutes get concessionsIITs, IIMs, and top foreign universities
Existing ObligationsNegative – Reduces disposable income<40% of income

If you’re comparing with other loan types, our general EMI calculator works for any loan amount, rate, and tenure.

Benefits of Using a Broad Education Loan Eligibility Calculator

You can compare banks like Axis, HDFC Credila, Avanse, and Auxilo with it. Some benefits are:

  • Quick estimations without having to use a lot of apps.
  • Set realistic goals to prevent being turned down.
  • Better at working out deals with lenders.
  • Making plans for co-applicants or collateral.

Avanse, Auxilo, and EduFund are some of the most popular solutions that provide you with results right away. This eligibility tool helps estimate the maximum loan; for home repayment schedules, try our home loan EMI calculator.

Tips to Improve Your Education Loan Eligibility

  • Make the credit score of the co-borrower better.
  • Pay off some of your debts.
  • Choose loans that are backed by something.
  • Pick the best courses or schools for discounts.
  • If you need one, add a strong co-applicant.

Frequently Asked Questions (FAQs)

How does an EMI calculator vary from an education loan eligibility calculator? 

The eligibility calculator determines the amount of borrowing you will do depending on your income and debts. The EMI calculator on the other hand, considers the amount of money you will need to pay back monthly on a particular loan amount.

Does the SBI education loan eligibility calculator rely on the salary?

The bank is able to estimate it well according to the salary and other details, but the bank should verify all the paperwork before giving a final clearance.

Is it possible to calculate with the help of a calculator whether I can get a student loan to study somewhere abroad?

Yes, the majority of calculators allow you to select domestic courses and foreign courses and make some adjustments to pay more and earn more in the countries.

Does the personal information require broad education loan eligibility calculators?

Simple ones demand that you know your income and debts. Sophisticated ones can request more of you, but they will keep your data secure and will not damage your credit score.

What is the frequency of my checking my eligibility for an education loan?

Apply it multiple times during the planning process, once to get the approximate numbers and once more when you have made your decision about a course or admission to get the exact numbers.

Conclusion

The first step to higher education is to calculate an education loan. Whether you are using a bank-specific tool, such as the SBI education loan eligibility calculator based on salary or a more general education loan eligibility calculator, it will aid you in making smart decisions. Finally, never assume that lenders will provide you with the correct information, and consult financial gurus to get personalised advice. You will be able to get your dreams without experiencing any stress with the right planning.