Financial Aid & Study Loan Facility for Quantum University Students

Key Highlights of Our Financial Aid Facility:

• Tie-ups with Leading NBFCs & Banks We’ve partnered with trusted financial institutions to provide students with quick-access, low-interest education loans.
• Flexible EMI Plans Students can opt to pay their academic fees in easy monthly installments (EMIs), making it more affordable.
• On-Campus & Remote Support Whether you're visiting our campus or applying online, our Loan Assistance Cell provides end-to-end support, from documentation to bank coordination.
• Minimal Paperwork We assist with organizing necessary documents such as admission letters, co-applicant proofs, and KYC to avoid delays.
• Scholarship + Loan Combinations Students can avail of scholarships along with education loans for greater financial flexibility.

Bank Loan

Benefits of Education Loan

• Comprehensive Coverage: All expenses, like hostel/transport and equipment with academic fees, are covered under the loan.
• Collateral-Free Loans: Up to ₹7.5 Lacs from most banks; up to ₹20 Lacs from select banks/NBFCs.
• Hassle-Free Process: Minimal paperwork and quick approvals.
• Ease for Families: Reduces financial stress on parents.
• Tax Benefits: Tax relief under Section 80E of the Income Tax Act.

Benefits of digital Study Loan by NBFCs up to Rs. 20 lakh without Collateral

Students can now avail a loan of up to Rs. 20 Lakh without collateral.

• Coverage of Expenses - Fee payable to the institute, Examination / Hostel fees/charges / equipment expenses etc.
• Paperless & Hassel free process.

Documents required to avail study loan

From Quantum University

• Admission Offer Letter/ Full Fee Structure of the Program from the Loan Department.
• University Prospectus
• Fee/Registration Slips
• Recognitions & Approvals: Access to the official website

From Student

• KYC Documents: Aadhaar Card/Voter ID Card/Driving License/Passport
• Two Recent Passport-Sized Photographs
• Academic Documents: Mark-Sheets/Passing Certificates of 10th, 12th/Diploma & Degree
• PAN Card
• CUCET Score Card

From Parents/ Guarantor

• KYC Identification: Aadhaar/Voter ID/Driving License/Passport.
• Photographs: Two recent passport-size photos.
• PAN Card: Mandatory for the guarantor.
• Bank Statement: Last 1-year active account statement.
• Income Proof: Income Tax Returns (ITR) / Form No. 16/16A / Salary Slip, Form J or Income Proof issued by a Magistrate/Tehsildar.

Frequently Asked Questions (FAQs)

The question should ideally be, why choose an Education Loan over a personal loan, or the money accumulated in your savings account? The versatility and advantages of Education Loans are listed below-

• GENERAL QUESTIONS
• NBFC / EMI FACILITY
• BANK LOANS
• APPLICATION PROCESS
• REPAYMENT & POST-LOAN QUERIES

1. What is the Financial Aid & Study Loan Facility at Quantum University?
   Quantum University provides a financial aid and loan support system to help students pay their academic fees through EMIs or bank loans, making higher education more accessible.
2. Is the loan facility available for all courses at Quantum University?
   Yes, the study loan facility is available for all undergraduate, postgraduate, diploma, and professional programs offered by the university.
3. What are the types of financial support available?
   Students can opt for NBFC-based EMI options, bank education loans, or scholarship + loan combinations.
4. Does the university provide scholarships too?
   Yes, Quantum University offers a range of merit-based, need-based, and sports scholarships, which can be combined with loans for greater financial flexibility.

1. What is the EMI facility through NBFCs?
   Quantum has partnered with a Bangalore-based NBFC to offer students the option of paying fees in monthly installments rather than lump sums.
2. What is the interest rate on the EMI facility?
   Typically, the interest is around 10% annualized, embedded in the EMI amount.
3. How many EMIs are allowed under the NBFC plan?
   Generally, 9 EMIs are allowed in a year, beginning with an upfront installment during admission.
4. Is collateral required for the EMI facility?
   No, the EMI-based facility offered through the NBFC does not require any collateral.
5. Is there a penalty for early EMI payment? No, students are usually allowed to prepay their EMIs without any penalty, but terms may vary.
6. Who can be the co-applicant for the EMI plan?
   A parent or guardian with a stable income (typically aged 21–65) must be the co-applicant.

1. Can I get an education loan from a nationalized bank?
   Yes, you can apply for loans from banks like SBI, PNB, HDFC, ICICI, Axis, etc., either directly or via portals like Vidya Lakshmi or JanSamarth.
2. Does Quantum University assist in getting bank loans?
   Yes, the Loan Assistance Cell helps with documentation, application submission, and connecting with partner banks.
3. Do I need to visit the bank personally?
   Yes, physical verification is often required, but with university support, the process is expedited.
4. What documents are needed for a bank loan?
   
   • Admission letter
   • Course fee structure
   • Identity/address proof
   • Co-applicant’s income proof
   • Bank statements
   • Academic certificates
5. Is collateral required for a bank loan?
   Collateral is usually not required for loans up to ₹7.5 lakh. For higher amounts, banks may ask for property or FD-based security.
6. What is the interest rate for bank education loans?
   Rates vary but typically range from 9% to 12%, depending on the bank and applicant’s credit profile.
7. What is the moratorium period?
   Most banks offer a moratorium period equal to course duration + 6 to 12 months after course completion or job placement.
8. Can I apply to multiple banks at once?
   Yes, through portals like Vidya Lakshmi, you can apply to up to three banks at once.

1. When should I apply for the loan?
   You can begin the loan application process right after receiving your admission letter from Quantum University.
2. How long does it take to get the loan approved?
   It usually takes 7–15 working days, depending on the completeness of your documents and the bank’s internal processing.
3. Can international students apply for study loans?
   Most Indian loan facilities are for Indian citizens, but international students can check with private NBFCs or international lending bodies.
4. Can I apply for a loan if I have poor credit history?
   A co-applicant with a strong credit profile can still make your application eligible.
5. Can I combine a scholarship with a loan?
   Yes, if you receive a scholarship, your loan amount can be reduced to only cover the remaining balance.
6. Do I need to pay any processing fees? Many banks and NBFCs waive processing fees for loans below ₹7.5 lakh, but some may charge a nominal fee.

1. When does repayment begin for EMI-based loans?
   EMIs start immediately after the first installment and continue monthly as per schedule.
2. When does repayment begin for bank loans?
   Repayment typically starts 6 months to 1 year after course completion or once you get a job.
3. Can I prepay my loan?
   Yes, most institutions allow prepayment without penalty, but confirm this with your lender.
4. Can I get a tax deduction for the interest paid?
   Yes, under Section 80E of the Income Tax Act, you can claim deductions on interest paid.
5. What happens if I miss an EMI or loan installment?
   Missing EMIs can attract penalties and affect your (or co-applicant’s) credit score. It’s best to inform the lender in advance if facing issues.
6. Who do I contact for help during the loan process?
   You can reach out to Quantum University’s Loan Assistance Cell.

EMI Services

Short-term Loan (EMI)

Quantum University offers an exclusive opportunity for students to apply for Short-Term EMI Loans, making education and associated costs more accessible for those facing financial constraints.

• Short-Term Financial Assistance: Designed for students experiencing a temporary financial crunch.
• Advance EMI Option: Covers essential expenses such as semester fees, books, stationery, hostel, equipment, transportation, and additional program fees.

Convenient Application Process: Students can apply online through the University's portal.

USP EMI Services

Short-term loans are available to students experiencing a low-bar financial crisis.

• Get upto 100% Financing
• Low Interest Rates
• Flexible Repayment Options
• Minimal Documentation
• Instant Approval

Terms and Conditions

• Duration of Repayment: Choose between 6 or 12 months.
• Rate of Interest: Starting from Approx. 3% onwards.
• Eligibility Criteria:
  • A valid CIBIL score of the applicant/co-applicant.
  • Last 6 months bank statements.
  • Last 6 month banking of Co-Applicant

FAQs

• General Information
• EMI Structure & Payment Terms
• Application Process
• Repayment & Prepayment

1. What is the Loan EMI Service at Quantum University?
   Quantum University offers a flexible monthly installment (EMI) facility through NBFC partnerships to help students pay academic fees without financial stress.
2. Who is eligible to apply for the EMI-based fee payment option?
   All students who have received an admission offer from Quantum University are eligible, subject to approval by the partnering NBFC.
3. Which financial institution partners with Quantum University for EMIs?
   A reputed NBFC (Non-Banking Financial Company) based in Bangalore is the official partner for EMI-based educational finance.

1. How are the EMIs structured?
   The total academic fee is broken into 9 equal monthly installments for the academic year. The first EMI is paid at admission.
2. What is the interest rate on these EMIs?
   The current interest is approximately 10% per annum, already included in the EMI amount.
3. Is there a down payment required?
   Yes, the first EMI is paid at the time of admission as part of the onboarding process.
4. Can I choose a custom EMI plan?
   No, the EMI plan is predefined and standardized for all students under the NBFC agreement.
5. Is the EMI amount fixed every month?
   Yes, once your EMI plan is confirmed, the monthly payment amount remains the same throughout the agreed duration.

1. How do I apply for the EMI facility?
   You can apply through the Quantum University Loan Assistance Cell during the admission process. You will receive a step-by-step guide and documentation checklist.
2. What documents are required for EMI approval?
   
   • Admission letter
   • Student ID proof
   • Co-applicant's PAN, Aadhaar
   • Income proof (salary slip/ITR)
   • Bank statements (last 3–6 months)
3. Is a co-applicant mandatory?
   Yes, a financially stable parent/guardian must be the co-applicant for the EMI loan.
4. How long does it take to get EMI approval?
   It usually takes 3–7 working days after submitting the required documents, depending on NBFC processing.

1. When do EMI payments start?
   EMIs begin immediately after admission, usually from the same or next month, depending on approval.
2. How can I pay my EMIs?
   Payments can be made via online transfer, UPI, auto-debit, or post-dated cheques, as per the NBFC’s instructions.
3. Can I prepay or foreclose my EMI plan?
   Yes, students are usually allowed to prepay or close their loan early without any extra charges. Check specific NBFC terms.
4. What happens if I miss an EMI payment?
   Missing an EMI may result in late fees, affect your credit score, and could trigger follow-up from the lender. Inform the Loan Assistance Cell if facing genuine hardship.