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Highest

Education Loan

Higher Education

within Reach with Easy

ABOUT

CGC JHANJERI

At CGC Jhanjeri, extra-curricular activities play pivotal

role in overall personality development of students. As

a result our students have brought many accolades to

CGC, Jhanjeri established in 2012, is the latest and the

most modern campus of Chandigarh Group of

Colleges. The campus comprises of Faculty of

E n g i n e e r i n g o f f e r i n g B . T e c h ( C i v i l /

Mechanical/CSE/ECE), courses, and Faculty of

Management providing degree courses in MBA,

M.Com, BBA, BBA (Service Industry Management),

BCA, B.Com (Hons.), B.Sc. Honors (Agriculture), B.Sc.

Fashion Technology LEET , B.Sc (Hons.) Nutrition &

Dietetics, B.Sc. (Non-Medical), B.Sc. (Computer

Science), Keeping in view, the growing demand of

students & employers, the college is introducing

some new courses wef 2020-21, including B.Tech-CSE

( ), B.Sc.

( M u l t i m e d i a ) , B . A . ( J o u r n a l i s m & M a s s

Communication), B.Sc. (Fashion Design), B.Sc.

(Medical Lab Sciences), B.Sc.

( )

Artificial Intelligence & Machine Learning

Artificial Intelligence &

Machine Learning, B.Pharma, D.Pharma, LL.B, B.Com

LL.B, BA. LL.B and MCA.

the campus in various inter college sports and cultural

competitions organized by IKG PTU and other leading

institutions. Emphasis on the “practical-application

of the concepts” has resulted into fabrication of

projects which have won prizes at IITs, Pushpa Gujral

Science City and other National Level competitions.

Industrial visits and seminars by experts form a regular

feature of this institution. CGC attaches utmost

importance to placements for its students and offers a

360 degree pre-placement training programme. Every

year in-campus placement drives are conducted by

leading National and Multinational companies

(MNCs), thereby providing a plethora of opportunities

to our students to kick-start their career.

CGC Jhanjeri aims to support deserving/meritorious

students in availing financial assistance for pursuing

their higher education. In order to encourage students

to take up higher education despite their fi

shortcomings, nowadays, most banks, whether State

or Centre Government, are providing attractive loan

facilities for students.

nancial

Believing that talent deserves to be supported, CGC

Jhanjeri has set up a separate loan assistance cell to

enable the students, at the time of admission (Online

or Offl

college has tie-ups.

ine) to obtain loans from banks with which the

Education

Loan Assistance

for CGCians

Education loan is paid in Easy EMIs. Bank gives a

repayment Period of up to 10 years, which makes it

easy on the pocket.

Benefits of Education Loan

1. Principal amount payment POST course

completion

Education loan can cover tuition fee + living costs

too. Repayment of the principal amount needs to

be done only POST course completion. An

addition 6 months is also given by the lenders,

before principal repayment starts.

2. Pay in Easy EMIs instead of bulk payment

3. Save for family contingencies + Invest & earn

through your savings

Education loan helps you retain your savings to

keep them invested and also keep them for

family/medical contingencies.

Availing an Education loan makes financial sense!

If Education loan availed: (example) Borrow Rs. 10

Lakh@ 9.33% * (effective rate of interest) & spend

Rs. 93,000 as interest Invest your money @ min

10%: earn Rs. 1,00,000/- Hence, make Pro t of Rs.

7,000 per annum by availing education loan.

5. Financial Benefits

Education loan empowers you to preserve your

savings and not go through the harrowing

experience of either selling land, jewelry or even

borrowing. Education loan empowers you to

fi education

background, current fi

nance by the strength of your

nancial status and

collaterals.

4. Liquidating Savings

Why we need an

Education Loan?

One need not keep such high amount of liquid

funds when one avails on an Education loan.

Sanction/ Solvency letter is received basis the

profile of the students, parent and the collateral.

And the loan needs to be repaid in easy EMIs.

One can avail attractive Tax benefits on Education

loan availed from Bank. The complete interest

amount has Tax exemption, without any upper

cap! Truly, a benefit not to miss!

9. Safeguard against cost inflation/fluctuation in

currency

Availing an Education loan sanction can be very

useful at this stage. Even if the cost increases, loan

can be availed up to the sanctioned credit limit.

10. Timely Payments to University

Availing an Education loan makes it easy. One

simple instruction to Bank & the fee payment will

be done.

11. Build Positive Credit History

Timely repayment of an Education loan can help a

student build a positive Credit history and get

loans for other products like your home,

automobile, etc. easily and at attractive rates.

12. Opportunity to take responsibilities

One can get the loan sanction from Bank even

before admission confirmation. In fact students

get the loan sanction at the time of application to

University & use Bank Sanction/Solvency letter to

show 'proof of funds'.

Taking an Education loan makes students value his

education even more and helps him take the

mature fi step of taking first nancial responsibility.

An opportunity for every parent to give his child

'the wings' to y !fl

6. Proof of funds to secure admission

7. Need not keep liquid funds

8. Attractive Tax benefits

The versatility & advantages ofEducation Loans are listed below-

Ÿ In India, there are a number of banks both Public &

Private sector from which you can avail an

education loan. There are also dedicated Loan

Companies from which you can avail an education

loan. Many a time these Companies have a tie up or

are supported by a bank. One needs to know the

following before applying for an Education Loan

Ÿ Nationality: You should be an Indian National to

avail an education loan in India.

Ÿ Age: You should be 18 years of age to avail an

education loan or your parents can take the loan in

their name. Banks might set an upper age limit of

35 years and no educational loan is given if you are

above this age.

Ÿ Admission to an educational course: You should

have secured admission for a professional,

technical or a management course in CGC Jhanjeri.

You should have secured at least 60% in all your

previous qualifying examinations (For SC category

at least 50%).

Ÿ Documentation: You will have to fill the loan

application form and submit documents such as an

address proof, mark sheets, admission letter for the

course. The co borrower (Parents or the third party

Guarantor) has to show proof of income (salary

slips) as well as the income tax statements of the

past 2 years.

Terms & Conditions to

avail Education Loan

Facility

EducationLoansare categorized on

the basis of:

Parent's Profession

Salaried, Businessman

or Agriculturist

Family Income

BPL, Middle Class or

Financially Sound

Ÿ Margin (Amount you pay from your pocket): If

you avail an education loan for an amount under 4

Lakhs and meet the requirement criteria the bank

will disburse (pay) the entire loan amount. You do

not have to pay anything from your pocket. For an

education loan between 4-10 Lakhs you have to

shell out (pay) 5% of the loan amount from your

own pocket.

Ÿ Loan Amount: You can avail a loan for a maximum

amount of INR 15 Lakhs if you are studying at CGC

Jhanjeri.

Ÿ Past credit history: Your credit score is maintained

with CIBIL (Credit information Bureau of India

Limited) called CIBIL TransUnion Score on a scale of

300-900. An ideal score is around 750. If you have

defaulted on your past loans then you will not be

able to avail an educational loan due to a bad credit

score.

Ÿ Processing Fees: No processing fee if the loan is

availed to study at CGC Jhanjeri.

Ÿ Family Income: The applicant's annual family

income and the course pursued are primary

determinants for the applicable loan amount.

Ÿ Time Period of the loan: Banks give you an

educational loan for a time period of 10-15 years

including the years of study (time taken to

complete the course). You have to repay the

educational loan through EMI either within 6

months after you get a job or after a year of

completing the course whichever is earlier called

Moratorium period.

Ÿ Collateral for the Loan: You do not need to place

collateral (security) for loans up to 4 Lakhs. If you

avail a loan between 4-7.5 Lakhs you require this

loan to be guaranteed by a third party. For a loan

above 7.5 Lakhs banks take collateral such as your

house or a property a fixed deposit or a life

insurance policy.

Ÿ Disbursement of the educational loan: The loan

amount will be disbursed in stages directly to the

institution where you have secured admission.

Ÿ Prepayment Charges: If you prepay your loan

there are no prepayment charges. RBI has recently

abolished prepayment penalty on all floating rate

loans (Loans whose interest rate uctuates with the

market

fl

or the economy).

Ÿ Types of interest rates: Private banks and foreign

banks offer educational loans at a fixed rate where

the rate of interest remains constant across the

tenure (time period) of the loan.

Ÿ Nationalized banks offer educational loans at a

fl floating rate where the rate of interest uctuates

with the market (economy) rates.

Ÿ What are the tax benefits of availing an

education loan in India?

Ÿ What happens if I pay the interest on the

educational loan in the moratorium period?

Ÿ Banks allow you to repay the educational loan

through an EMI either within 6 months after you

get a job or after a year of completing the course

whichever is earlier called Moratorium period

(grace period). You can start making your interest

payments on the educational loan as soon as your

course starts. If you pay back the interest on the

education loan in the moratorium period, you get a

discount (cut) on the interest rates by 1% in this

period. So we would ask you to gain knowledge

and then visit two three banks to compare their

terms & conditions and then choose the best one.

Ÿ You can avail tax benefit on your educational loan

under Section 80 E of the income tax act if the loan

is taken in your name for a higher education or for

your spouse and children. You can claim a tax

deduction on the interest portion of your

educational loan. You can avail these tax

deductions for a period of 8 years after you start

paying back the EMI on your educational loan. You

cannot claim a deduction on the principal of your

educational loan.

Quick & Easy Assistance

Ÿ Get sanctioned within the limited time.

Ÿ Fast procedure. Quick service. Less documentation.

Ÿ Education Loans are provided to pursue all types of

academic courses at CGC Jhanjeri. The courses

include graduation, post-graduation, vocational

courses, and other certificate courses.

Ÿ Single Window on-the-spot clearance for

Education Loan processing and sanctioning.

Ÿ When it comes to a complete Education Loan, the

features and benefits offered are the designated

dea l make r s . Common ly, the fo l low ing

conveniences are offered as part of the education

loan.

Ÿ Complete your Loan procedure before admission.

Ÿ 100% Education Loan guarantee. No hidden

expenses.

Ÿ Additional 0.5% interest rate concession for female

candidates.

Ÿ Government sponsored subsidy schemes, such as

'Central Scheme to provide Interest Subsidy (CSIS)'

helps students from the economically backward

sections of society to avail the benefits of a robust

loan for education.

Ÿ Free tax benefits under section 80E of ITAI (Income

Tax Act of India).

Ÿ Concession of 1% ROI if interest served during

moratorium period and thereafter installments are

paid regularly.

Documents Required

From Applicant From CGC Jhanjeri From Parent/Guarantor

Ÿ Admission Offer Letter

Ÿ Full Fee Structure of the

Chosen Course

Ÿ Prospectus of the College

Ÿ Courses (Fee Payments Slips/

Registration Slip)

Ÿ Placement Record (previous

year)

Ÿ UGC/AICTE Affi Letter/

Other Affi Particular

Courses

liation

liation for

Ÿ M a r k S h e e t s / Pa s s i n g

Certifi 12TH /

Diploma & Degree

cates of 10TH,

Ÿ KYC (Aadhaar Card/ Voter

C a r d / D r i v i n g L i c e n s e /

Passport)

Ÿ 2 Re c e n t Pa s s p o r t S i z e

Photographs

Ÿ PAN Card

Ÿ PAN Card

Ÿ Last 6-month bank account

statement

Ÿ KYC (Aadhaar Card/ Voter

c a r d / D r i v i n g L i c e n s e /

Passport)

Ÿ 2 Re c e n t Pa s s p o r t S i z e

Photographs

Ÿ IT returns / IT assessment order

of previous 2 years/ Form no

16/16A/Salary Slip or Income

Proof issued by Magistrate /

Tehsildar

Ÿ A brief statement of assets &

liabilities of co-borrower /

guarantor.

Through Vidya Lakshmi

Ÿ Under this, CGC Jhanjeri students can have access

to Education Loans. The Portal is linked with

Scheduled Banks. It is a gateway to the Banks

through which the student can proceed further. The

portal has the facility of tracking the Education

Loan right from the inception of the loan

application to the sanction of the loan or otherwise.

Ÿ Students must register and login at

https://www.vidyalakshmi.co.in/Students/ and fill-

up the Common Education Loan Application Form

(CELAF) by providing all the necessary details. After

filling the form, the applicant can search for

Educational Loan and APPLY as per his/her needs,

eligibility and convenience.

Ÿ Vidya Lakshmi is an education Loan Portal

managed by NSDL e-Governance Infrastructure

Limited, Mumbai.

Ÿ CGC Jhanjeri has been providing Education Loan

Assistance for its student since 2012. We help our

students in speedy disposal of their loan

applications across the country

Ÿ However, the students and their parents/guardians

shall be responsible for obtaining sanction and

repayment of the sanctioned loan and all kinds of

liabilities and consequences arising thereof, if any.

CGC Jhanjeri shall not be liable and responsible in

this regard.

Education Loan Cover

Ÿ 100% College Tuition Fees payable,

Accommodation charges, Examination Fee, Books

& equipment & Traveling expenses abroad.

Providing Education Loan Assistance Since 2012

Through Direct approach in bank

Ÿ It is preferable to approach the bank branch where

one of the parents has an account. However, in

certain cities, there may be branches designated

for issuing education loans.

Procedure to Apply for Education Loan:

Associated Banks

Address: Accounts Department, Block-01

Chandigarh Group of Colleges

Chandigarh - Sirhind Road, Jhanjeri, Mohali, Pin 140307

Help Line: 0160-5045369, 88250-82011

edu.loan@cgc.ac.in

/ChandigarhGroupOfCollegesJhanjeri

/cgcjhanjeri cgcjhanjeri /cgcjhanjeri

Chandigarh Group of Colleges, Chandigarh-Sirhind Road,

Jhanjeri, Mohali-140307, Punjab

General Helpline : 0160-5045300, 84377-04444

Admission Helpline : 0160-5045311, 84376-04444

Fax : 0160-5045333

E-mail : admissions@cgc.ac.in

For Further Details Logon to : www.cgc.ac.in

Toll Free : 1800 274 0444

www.cgc.ac.in