LPU Education Loan Assistance | Study Loans Support
LPU - Lovely Professional University

Loan & Easy EMI
Financing Facilities

Supporting your academic journey with
seamless financing services

To support students in financing their education smoothly, the University has partnered with leading Banks and NBFCs (Non-Banking Financial Companies) to offer flexible education loans and easy EMI financing options. These facilities reduce the immediate financial burden on students and their families, with repayment structured conveniently—either during the course or after its completion, depending on the type of facility opted.

  • Education loan through Banks
  • Education Loan through NBFCs
  • EMI / Private Financing
In addition to education loans offered by Public Sector, Private Sector, and Regional Rural Banks, several Non-Banking Financial Companies (NBFCs) also provide innovative EMI-based financing solutions and long-term loan facility with flexible repayment options.

+91-1824-444583
studentloanassistance@lpu.co.in
Education loan through Banks

The University has tied up with various Public Sector Banks, Private Sector Banks, and Regional Rural Banks in India, including Punjab National Bank, State Bank of India, Bank of Baroda, Union Bank of India, Canara Bank, IDBI Bank, Indian Bank, HDFC Bank, Axis Bank, Karur Vysya Bank, Tripura Gramin Bank, Assam Gramin Vikash Bank, and J & K Grameen Bank for facilitating education loans.

Key Highlights of Loan through Banks:

  • For loan amounts above ₹7.5 lakhs, banks may require collateral security.
  • Structured and suited for long-term funding needs.
Education Loan through NBFCs

The university has an active tie-up with leading NBFCs to provide accessible, collateral-free education loan options with a simplified application process.

Key Highlights of Loan through NBFCs:

  • No collateral required upto ₹30 lakhs of Education Loan
  • Simple and Streamlined process
  • Co-borrower is mandatory
EMI / Private Financing

You can also opt for EMI-based financing through our trusted private partners. These options typically feature simplified procedures, faster processing, minimal documentation, and convenient repayment structures.

Guidelines & Resources

Documents required by banks for extending education loans
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)
Procedure for Loan Assistance
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,
      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.
General Guidelines for Loan & Easy EMI Financing Facilities

Students can avail the Education Loan Facility in the first year as well as in subsequent years of their programme. Students shall be issued the fee structure, loan letter, or other required documents only after completion of their provisional admission formalities. These documents enable students to initiate the loan process with the respective bank or NBFC, as deemed appropriate. Students and their parents/guardians shall be personally responsible for the sanction, repayment of the loan, and all liabilities and consequences arising thereof. The University will not be liable and responsible in this regard. The University does not guarantee loan approval, interest rates, or terms, which shall be solely governed by the policies of the respective bank or NBFC.

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.

Student Loan
Assistance Cell

For Enquiries

+91-1824-444583
studentloanassistance@lpu.co.in