What is a Pre-Approved Education Loan?

Posted In education loan On January 21, 2020

A pre-approved education loan means that the lender has agreed to extend a loan to applicants providing they fulfil pre-decided criteria. It is given on the basis of your creditworthiness, employability & various other factors.  A pre-approved loan requires less documentation and it is processed within a few days. The main advantage is that you will come to know in advance how much funds you can cover and can start searching for the best college right away. The loan amount is decided purely on the basis of the student’s future earning potential rather than his/her parent’s credit history. 

Benefits of pre-approved education loan

A pre-approved education loan can be very helpful for students who need instant funds for their college. But it also offers several other benefits mentioned below -

  • The student gets to know how much loan amount he is eligible for based on his/her employability score.  

  • The loan processing will take much less time after the student submits all the required documents. A lot of the formalities would have been completed at the time of the pre-approval.

  • The student will face no lag during the admission process at his college since he would now have a sanction letter to prove he has the funds to study.

  • A pre-approved education allows you to get your loan sanctioned from the comfort of your home by just filling an application form and taking an assessment. 

What is the eligibility criteria for a Credenc pre-approved education loan?

  • Fill the pre-approval online application form.

  • Take a Credenc Employability Test.

How to apply for a Credenc Pre-Approved Education Loan?

A Credenc pre-approved loan is designed to serve the underprivileged students who are deserving candidates. The loan program is designed to help you get the college education you deserve, not what your parents can afford. For students who need instant funds for their MBA. From filling out a simple application form to undertaking a free assessment, that’s all you need to do to get your education loan pre-approved. You & your potential to earn decide your loan amount & interest rate. The pre-approval education loan is eligible for courses like MBA, Digital Marketing and other courses. Signing up for a pre-approval edu loan also gives you exclusive access to annual meet-ups, interview preparation, career services and much more. You can get your pre-approved loan letter issued within 10-15 days.

Applying for a pre-approval loan has never been easy. Just in 3 easy steps, get your college education secured with a pre-approved education loan from Credenc. 

  • Fill out a form - Fill out an online form providing all necessary details like - name, address, date of birth, PIN code, employment & academic details and so on.

  • Take Assessment - Take a 30-minute future that evaluates your aptitude, skills & personality to generate your future employability score.


  • Prediction Analysis - The test results are then fed into our A.I. driven grading system to predict the future income of the students.

  • Get Sanction - Get your education loan pre-approved on the basis of your future employability score.