Loan Assistance for Education

Support for your high dreams
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Bank Loan assistance

The university has set up a separate loan assistance cell to enable the students, at the time of admission, to obtain loans from banks with which the university has tie ups.

Phone: +91-1824-444583
Email: studentloanassistance@lpu.co.in

View Banks

Banks inside the campus

University has different bank branches inside the campus.

  • State Bank of Patiala
  • Punjab National Bank
  • Oriental Bank of Commerce
  • Karur Vysya Bank
  • ICICI Bank
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Guidlines and Resources

S.No. Documents Required for Applying for Educational Loan
1 Admission letter of the Educational Institute giving details of fee, boarding and lodging expenses. Letter confirming scholarship, if any.
2 Attested copies of documents for proof of age/date of birth and proof of residential address.
3 Passport size photo of the applicant, co-obligants and guarantors.
4 Copy of the PAN card of student and Parents Borrower
5 Copy of marksheets/degree certificates of previous academic qualifications.
6 Income proof/latest income tax return of parents/co-obligants, guarantors. (if any)
7 Details/statements of Bank accounts held by the student applicant/co-obligant(s)/guarantors (if any) for the last six months.
8 Details of collateral security alongwith valuation certificate of Govt approved valuer (if any). (In case of loan amount more than Rs: 4.00 Lacs)
The Students who want to apply for Educational Loan from any Bank need an offer letter from the University. The University will provide the requisite offer letter or alike document as required by the concerned bank for loan purposes, as and if deem appropriate.
All the desiring students who want a Loan letter (offer letter) need to follow the following steps:
  • Submit the duly filled and signed copy  of the form to the University via one of the following means:
    • In Person to the Student Loan Assistance Cell on the University Campus or at the Designated Admission/Camp Offices
      or
    • By Post /Courier to the
      Student Loan Assistance Cell,
      Lovely Professional University,
      Jalandhar-Delhi G.T. Road (NH-1),
      Phagwara, Punjab (INDIA) – 144411
      or
    • By Email: Send a scanned copy of the duly filled and signed form to studentloanassistance@lpu.co.in
On receiving the duly filled and signed document the University shall process the application and will revert back to the student as soon as possible.

Student Loan Assistance Cell,
Lovely Professional University
Phone: +91-1824-444583
Email: studentloanassistance@lpu.co.in
Student Loan Assistance
Note:
The Hon’ble Supreme Court of India in case of Civil Appeal No. 2056 of 1999 dated 24th September, 2001 titled as "Bharathidasan University and another Vs All India Council for Technical Education and others"; has held that "Running /conducting courses and programmes in technology courses by University –prior approval of the All India Council for Technical Education (AICTE)-is not necessary –Definition of "Technical institution" under AICTE Act does not include university. AICTE is not intended to be authority either superior to or supervise and control the universities – Regulation 4 compelling university to seek and obtain prior approval of AICTE before starting any new department or course or programme in technical education are void." Click here to view the full text of the judgment.

The judgment of the Supreme Court of India cited above thus invalidates the criteria of AICTE approval prescribed by certain banks for the purpose of sanction of educational loans to the students of a university and other purposes in relation to a university. Such a requirement, hence, must be done away with.

Requisition of approval of AICTE, in case of a university, is entirely in violation of aforesaid judgment of the Hon’ble Supreme Court of India and may tantamount to contempt of Court.

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