An educational loan is a financial aid option designed to help students cover the costs of higher education, including tuition, books, and living expenses. These loans are offered by banks, financial institutions, or government programs with varying interest rates and repayment terms. They enable students to pursue academic goals without immediate financial burdens, with repayment typically starting after completing the course. Choosing the right loan involves comparing interest rates, repayment flexibility, and eligibility criteria to ensure affordability.

Educational loans can be provided to students pursuing higher education, including undergraduate, postgraduate, or vocational courses, at recognized institutions in India or abroad. Eligible applicants typically include Indian citizens aged 18-35 with a strong academic record and admission to an approved course. Loans can cover tuition fees, accommodation, books, and other education-related expenses, subject to the lender's terms and conditions.

In India, the age limit for an educational loan typically ranges from 16 to 35 years, though this varies by lender. Some banks, like UCO Bank, impose no minimum or maximum age criteria, while others may extend the upper limit for specific schemes or collateral-backed loans. Government programs or certain institutions may also have unique age requirements, so checking with the lender is essential.