Education Loan Against Property

What is Education Loan Against Property ?

An Education Loan Against Property (ELAP) is a secured loan where a borrower pledges residential or commercial property to fund higher education expenses. It helps students pursue studies in India or abroad with higher loan amounts and lower interest rates compared to unsecured education loans. The property can belong to parents or close relatives. Funds can be used for tuition fees, accommodation, travel, books, and other education-related costs. Since the loan is backed by property, lenders offer flexible repayment tenures and better terms. Repayment usually begins after course completion, making it suitable for expensive professional or overseas education.