What Expenses are covered by a Student Loan?

You can take a student loan to finance a range of expenses for your education, including:

  • Fees payable to the college, school or hostel, including tuition fees.
  • Examination, library and laboratory fees.
  • Purchase of books, equipment, instruments and uniforms.
  • Caution deposit, building fund, refundable deposit supported by the institution’s bills or receipts.
  • Travel expenses for studies abroad.
  • Buying computers essential for completion of the course.
  • Any other expenses needed to complete the course, like study tours, project work and theses.
  • Interestingly, State Bank of India loans also cover the cost of two-wheelers — up to Rs 50,000.