Obtaining an education loan is an important step towards achieving your academic aspirations. However, it is possible that after the higher secondary exam or completing the undergraduate program, students take some gap to prepare for higher studies and entrance exams.
When you apply for an education loan to any bank, it will check your academic documents and if there is any gap for one or two years or more, the bank may demand a gap certificate. The gap certificate shall show why there was a gap in the career. Let’s understand what is a gap certificate and how to obtain one.
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What is a Gap Certificate?
A gap certificate is a document that serves as proof of the duration between the completion of a student’s previous education and the commencement of the current course for which the education loan is being demanded. It verifies that there was no period of idleness or unproductive activity during the gap. The students can show that they were preparing for entrance exams and that is why there is a gap between the two courses.
Banks or lending institutions often require a gap certificate to assess the applicant’s commitment towards continuous education. It helps them evaluate the applicant’s intentions and ensures that the gap period was utilised constructively. It is very important to understand the details of all the documents required for an education loan.
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Process of Obtaining a Gap Certificate
In order to obtain a gap certificate, you need to produce some documents that can support the gap period. You can contact your coaching institute if you are preparing with a coaching centre. In other cases, you can submit an affidavit obtained from a notary public. A notary public under common law is an official appointed by legal statute to assist the public with non-controversial affairs. Check details on the various processes involved in obtaining a gap certificate:
Contacting Educational Institutions
If the student has been involved in preparing for any entrance examination with a coaching centre, it is very easy to obtain a gap certificate or education loan. The student can simply approach the office of the concerned educational institution or coaching centre and ask them to issue the same. Check the process below:
- Reach out to the educational institutions you attended during the gap period.
- Inquire about their process for issuing gap certificates.
- Provide necessary documentation, such as academic transcripts or certificates, to support your request.
Submitting an Affidavit
In case the student was not enrolled in any educational institution or coaching centre during the gap period, then he/she may need to submit an affidavit for the same. The affidavit should state how you utilised the gap period productively, such as pursuing vocational courses, gaining work experience, or engaging in volunteer activities.
- Sometimes the students are engaged in self-studies and don’t take the help of a coaching centre but they also need to be certified
- The affidavit will contain signatures of witnesses mentioning that the candidates were engaged in self-studies and were preparing for certain exams
- If the student was pursuing any certificate course or language course, the same can be mentioned in the affidavit
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Obtaining Notarization
The affidavits which are being submitted shall be on a non-judicial paper issued and certified by a notary public. However, in some cases, you can also visit any gazetted officer’s office and get the affidavit attested from the same. A certified affidavit will be accepted by the lenders easily and it will help escalate your loan application. Check more details below:
- Once the affidavit or certificate is prepared, it may require notarization
- Visit a notary public or authorized official to authenticate the document
- After obtaining the gap certificate or affidavit, submit it to the bank or lending institution along with other required documents for your education loan application.
Ways to Obtain a Gap Certificate
As stated above, a gap certificate can be obtained through multiple channels like educational institutions, affidavits through notary etc. Even some third-party agencies can help you obtain a gap certificate for an education loan. Loan schemes like SBI Global Ed-vantage education loan, Bank of Baroda, Union Bank etc often demand gap certificates to process the loan application. Check below some of the best ways to obtain a gap certificate:
- Through Educational Institutions: Contact the last educational institution attended during the gap period and follow their procedure for obtaining a gap certificate, which may involve filling out a request form and providing supporting documents.
- Online Application: Some educational institutions offer online services for requesting documents such as gap certificates. Check the institution’s website or contact their office to inquire about online application procedures
- Affidavit: If you were not enrolled in any educational institution during the gap period, you can draft an affidavit detailing your activities during that time. Ensure the affidavit is signed by a notary public or authorized official for validity.
- Third-party Agencies: In certain cases, third-party agencies or consultants may assist in obtaining gap certificates for a fee. Research reputable agencies and inquire about their services if you encounter difficulties in obtaining the certificate independently.
FAQs on Gap Certificate for Education Loan
A gap certificate is a document that verifies the duration between the completion of one’s previous education and the commencement of the current course for which the education loan is applied. It is required by banks or lending institutions to ensure that there was no period of idleness or unproductive activity during the gap.
You can obtain a gap certificate by contacting the educational institution you attended during the gap period. Alternatively, if you were not enrolled in any institution during that time, you may need to draft an affidavit detailing your activities. This affidavit should then be notarized to validate its authenticity.
If you encounter difficulties obtaining a gap certificate from your previous institution, you can consider drafting an affidavit to explain how you utilised the gap period productively. The affidavit shall be signed by a notary public or authorised official for validity.
Yes, most lending institutions require a gap certificate as part of the documentation for an education loan application. It helps them assess the applicant’s commitment to continuous education and ensures transparency in the loan approval process.
Generally, a gap certificate obtained for one loan application may not be transferable to another. Each lending institution may have its specific requirements and may request a fresh gap certificate for each application.
Obtaining a gap certificate for your education loan application is an important step towards demonstrating your commitment to continuous learning. Remember to plan and gather all necessary documentation to facilitate a smooth application process.
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