Jansamarth form filling for Education Loan subsidy (Step by Step)| Ep 44

Summary

In this video, the host guides viewers through the process of applying for an education loan on the Jamb portal, a mandatory step for students seeking loans from public sector banks in India. The host addresses technical issues, explains eligibility criteria, and provides a step-by-step walkthrough of the application form. Additionally, the video highlights the services offered by VX Scholars, an organization funded by the Indian government to assist students with education loans, emphasizing their free support and the importance of selecting the right bank branch for loan processing.

Takeaways

• 📚 Every student applying for an education loan from a public sector bank must apply through the Jamb portal, regardless of whether the loan is for studies in India or abroad.
• 💻 There have been technical issues with the Jamb portal, and the process may change, possibly integrating with the Lakshmi portal.
• 👤 VX Scholars, funded by the Ministry of IT, Government of India, assists students in obtaining education loans without any cost.
• 🔗 The Jamb portal requires students to provide details and documents such as Aadhar, PAN, and bank account information.
• 🏫 Students must declare their educational background, including graduation and high school details.
• 🌐 For foreign universities, students can manually input the university's name if it's not found in the drop-down menu.
• 📅 The course start and completion dates entered in the portal are tentative and subject to change.
• 💼 If applying for a loan above 7.5 lakhs, collateral may be required, and the guarantor's details must be provided.
• 📑 Students need to upload various documents such as proof of admission, caste certificate, and income certificate.
• 🏦 The portal allows students to choose a bank branch for loan processing, but it's advised to consult with a financial officer before selecting.
• 📈 The portal will update the status of the loan application, including sanction, disbursement, and subsidy claim.

Q & A

What is the purpose of the Jamb portal?

The Jamb portal is used for students applying to public sector banks for education loans, both for studies in India and abroad.

What kind of technical issues were initially faced with the Jamb portal?

There were many technical glitches on the Jamb portal, and there was no clarity on whether it would be mandatory for all students or if it would replace the Lakshmi portal.

Who is eligible to apply on the Jamb portal?

Every student applying to a public sector bank for an education loan, regardless of whether the loan is for studies in India or abroad.

What should a student do if the Jamb portal says they are not eligible for any subsidy?

If the portal says a student is not eligible for any subsidy, they should provide that printout to the bank.

What is the role of VX Scholars in helping students with education loans?

VX Scholars is an organization funded by the Ministry of IT, Government of India, to help students get education loans. They provide free services and can assist with technical issues on the Jamb portal.

What are the steps to register on the Jamb portal?

To register, one must provide details, agree to privacy policy and terms and conditions, get an OTP, and verify both mobile and email.

What documents are required to be ready when applying on the Jamb portal?

Applicants need to have their Aadhar card, PAN card, and bank account details ready.

How does the Jamb portal determine eligibility for a subsidy?

The portal checks various parameters such as loan amount required, course fee, and the amount the applicant can contribute.

What happens if a student faces technical issues with the Jamb portal?

If a student faces technical issues, VX Scholars can help by providing formats of declarations to eliminate the need for Jamb portal login for some applications.

What is the process after determining eligibility on the Jamb portal?

After determining eligibility, the applicant must fill out the entire application form on the Jamb portal before starting the loan application process.

Why is it important to choose the right branch when applying for an education loan?

Choosing the right branch is crucial because once selected, there is no option to change it, and the student will be stuck with that branch for the loan process.

Outlines

00:00

📚 Introduction to JAMMER Portal for Education Loans

The speaker introduces the JAMMER Portal, which is a mandatory platform for students applying for education loans from public sector banks in India, regardless of whether the studies are within India or abroad. The video aims to guide viewers through the process of applying for an education loan using the portal. The speaker mentions that despite the portal's launch about 12 months ago, there were technical glitches and a lack of clarity on its necessity. The speaker also introduces VX Scholars, an organization funded by the Ministry of IT, Government of India, which assists students in obtaining education loans without any cost. The speaker reassures viewers that VX Scholars can help with technical issues on the JAMMER Portal and provides a link for a callback service.

05:01

🔍 Navigating the JAMMER Portal Application Process

The speaker walks through the JAMMER Portal's registration process, explaining each step, including agreeing to privacy policy and terms and conditions, and verifying both mobile and email. The video then demonstrates how to check eligibility for an education loan, guiding viewers on how to input their details such as course type, income, and loan amount. The speaker emphasizes the importance of entering accurate information and provides a detailed walkthrough of the form-filling process, including entering personal details, educational qualifications, and employer information.

10:02

🏦 Completing the Loan Application and Co-Applicant Profile

The video continues with the completion of the loan application process, including providing course details, passport information, and other costs associated with the education program. The speaker discusses the option to declare willingness to pay interest during the course period and the requirement to provide collateral for loans above a certain amount. The process of adding a co-applicant to the loan application is also covered, including obtaining consent for sharing details and verifying bank account information. The speaker provides insights on how to handle the co-applicant's information and documents, emphasizing the need for accuracy and completeness.

15:03

🏁 Finalizing the Application and Understanding Eligibility

The final part of the video script describes the final steps in the application process, including submitting the application and understanding the eligibility for subsidies. The speaker explains how to review the application and the importance of selecting the correct bank branch for loan processing. The video concludes with a reminder that the JAMMER Portal may still have technical issues and encourages viewers to reach out to VX Scholars for assistance. The speaker also invites viewers to ask questions in the comments and to engage with the channel by subscribing and liking the video.

Keywords

💡Education Loan

An education loan is a type of financial aid provided by banks or other financial institutions to students to pursue higher education. In the video, the speaker discusses the process of applying for an education loan through the Jamb portal for both domestic and international studies. The loan can be utilized to cover tuition fees, living expenses, and other education-related costs.

💡Jamb Portal

The Jamb Portal is an online platform launched by the Government of India for students applying for education loans from public sector banks. The video provides a step-by-step guide on how to use this portal, highlighting its importance in the loan application process. The portal is used to check eligibility for subsidies and to complete the loan application form.

💡Subsidy

A subsidy is financial assistance provided by the government to reduce the cost of a product or service. In the context of the video, subsidies are offered on education loans to eligible students, making the repayment more manageable. The speaker explains how the Jamb portal determines a student's eligibility for such subsidies.

💡VX Scholars

VX Scholars is an organization funded and supported by the Ministry of IT, Government of India, mentioned in the video. Its purpose is to assist students in securing education loans. The video is part of a web series by VX Scholars called 'Loan Flix', which provides comprehensive information about education loans.

💡Technical Glitches

Technical glitches refer to errors or malfunctions in software or systems. The video acknowledges that the Jamb portal has had technical issues, which can cause difficulties for students applying for loans. The speaker assures viewers that their team can provide assistance in such scenarios.

💡Eligibility

Eligibility in the video refers to the criteria a student must meet to qualify for an education loan or subsidy. The Jamb portal checks a student's eligibility based on factors like income, course details, and nationality. The speaker demonstrates how to input this information into the portal.

💡OTP

OTP stands for One Time Password, a temporary password sent to a user's mobile or email for security purposes during online transactions or verification processes. In the video, the speaker instructs viewers on how to receive and input an OTP for account verification on the Jamb portal.

💡Co-applicant

A co-applicant is a person who applies jointly with the primary applicant for a loan. In the context of the video, the speaker explains that for loans above a certain amount, a co-applicant is mandatory, often serving as a guarantor. The process of adding a co-applicant on the Jamb portal is detailed.

💡Guarantor

A guarantor is a person who promises to pay a borrower's debt if the borrower fails to do so. The video explains that for loans above 7.5 lakhs, a guarantor is required, and this role is often filled by the co-applicant. The guarantor's details, including income and employment, are crucial for the loan application.

💡Disbursement

Disbursement refers to the release of funds from a loan. In the video, the speaker mentions that once a loan is sanctioned, the next step is disbursement, where the loan amount is transferred to the student's account or directly to the educational institution.

💡Subsidy Claim

A subsidy claim is the process of applying for financial assistance from the government to reduce the cost of a loan. The video outlines that after loan disbursement, students can claim subsidies through the Jamb portal, provided they meet the eligibility criteria.

Highlights

Applicants for education loans from public sector banks must apply through the Jamat Portal.

Technical issues with the Jamat Portal can be addressed by VX Scholar's team.

Jamat Portal was launched by the Government of India to streamline education loan applications.

Clarity on the necessity of using Jamat Portal for all students is still evolving.

Loan applicants must show eligibility or ineligibility printout from the Jamat Portal to the bank.

VX Scholar provides a detailed walkthrough of the Jamat Portal application process.

VX Scholar is funded by the Ministry of IT, Government of India, to assist students with education loans.

Services provided by VX Scholar are completely free of cost.

Technical issues with the Jamat Portal can sometimes halt the loan application process.

VX Scholar can help bypass the Jamat Portal login requirement in certain cases.

The registration process on the Jamat Portal involves agreeing to privacy policy and terms.

Applicants must verify their mobile number and email address during registration.

The portal checks for subsidy schemes based on the applicant's income and course details.

Applicants need to provide personal, academic, and financial details in the application.

The portal fetches income details from the income tax portal if consent is given.

Applicants must declare if they have existing loans and provide details if applicable.

Documents such as proof of admission and caste certificates need to be uploaded.

The co-applicant's details and consent are required to proceed with the application.

The application is only accepted if a co-applicant is added, even if the applicant is not eligible for a subsidy.

Ineligibility for subsidy schemes can be due to income exceeding the set limits.

VX Scholar advises contacting them for assistance with technical issues on the Jamat Portal.

The video provides a step-by-step guide on how to fill out the Jamat Portal form.

VX Scholar's services are available for education loans above 7.5 lakhs for studies in India or abroad.

Transcripts

every student who is applying to a

public sector bank for an education loan

has to apply on jamat Portal whether the

loan is for India or abroad sometimes

there will be some technical issues with

the Jan Samar portal in such scenarios

also our team will be able to help

[Music]

you hello all this is D co-founder of VX

scholar I welcome you to the 44th

episode of our web series lone flick

season 2 so government of India launched

J sammer portal about 12 months ago but

till now we didn't make this video

because there were a lot of technical

glitches on the J Sam portal and also

because there was literally no Clarity

on whether J Sam portal is going to be

mandatory for all these students to

apply on or whether it's going to

replace with lakmi portal or it's going

to be an add-on things are still not

very clear but the clarity as of now is

that every student who is applying to a

public sector bank for an education loan

has to apply on jamut Portal whether the

loan is for India or abroad yeah and

when you log into to the portal if the

portal says you're not eligible for any

subsidy you supposed to provide that

print out to the bank and if the portal

says you are eligible then you have to

complete the entire application form on

Jens Earth portal before you even start

your loan application in this video I'm

going to be filling the Jammer portal

form right from the start till the end

with my details to show you the entire

journey of of how the form works and

what are the different fields you will

have to enter now before we start there

is one thing which I want to tell to

those people who are new to my channel

that Lon Flix is a web series which

covers each and every detail of a

education loan right from the

eligibility documentation disbursement

repayment everything and Loan Flix is an

initiative of weix schols VX Scholars is

an organization which is funded and

supported by the ministry of it

government of IND

and its sole purpose is to help students

like you get an education loan and let

me make it very clear all the services

of IMX schols are completely free of

cost because we are funded by the

ministry of it government of India as I

mentioned so you can request a call back

on our website and get in touch with our

team without any second thought I'm

leaving the link in the description

through which you can get in touch with

us and now one more important thing

before we start that sometimes there

will be some technical issues with the J

Samar portal so if you're facing such an

issue and your branch is not letting you

start your loan process because you have

not logged into J Samar portal and

filled the application in such scenarios

also our team will be able to help you

so in the past such scenarios have

happened and we have certain you know

formats of Declaration through which we

can eliminate Jammer portal login for a

handful of application so if you're

facing such an issue do make sure that

you contact your financial officer now

to get a financial officer assigned to

you you can request a call back on our

website using the link mentioned above

now let's start and go to

jam.in so here we are on the

registration page of

jr.in so you put in your details then

you get to the privacy policy scroll

till the end and only then you'll get

the next button click on

next same thing for the terms and

conditions also scroll till the end and

then click on next

button yeah click on the check box which

is on the side so now you will click on

get OTP so your mobile number will get

an OTP enter the

OTP click on

submit you can verify the email address

also so enter your email address and

then you'll get a verification OTP on

your email ID as well get

OTP yeah so now we are on the page where

uh you know you can see all the sub C

schemes uh which are there so yeah you

can see home my applications and schemes

so just on this page if you scroll down

you can click on education loan check

eligibility now on this page I am going

to put parameters for which I know there

is a subsidy scheme available so let's

say for outside India 4 to six lakhs of

the income and then I'm put going to put

category as OBC because generally for

General category there are very less

subsidy schemes so postgraduate course

duration 2 years fulltime because for

part-time programs generally there are

not any subsidies so I'm going to put an

approximate course Fe just to see you

know whether it is making me eligible or

not so let's put 30 lakhs as the course

fee yeah and then it is also asking me

what amount I'm going to put by my from

my side so let's put it 5 lakh

rupees so now it is showing the loan

amount required is 25 okay eligibility

check so now uh it is showing that it

has found the scheme uh for me so as you

can see the eligibility subsidy amount

here is 510,000 so click on proceed yeah

so on this page it is telling me to uh

recheck all the details so all the

details which I added in the previous

screen itself everything it is just

asking me to reconfirm click on continue

yeah so now it is asking me to keep

these three documents ready which is

adhar pan and Bank Account Details

because it'll be required

proceed so now it is going to take my

consent for all the 4 five portals it is

going to use so adhar is one of that

uidai and then income tax portal then

udam which is for you know self-employed

people check Bureau check

consent yeah and finally the other

consents so now once I have given it the

consent it is landing me on the second

screen where it is asking me adhar and

pan details so now uh you have to put

your Adar number after that you can

request an OTP enter the OTP which you

have received click click

submit so as you can see it has fetched

my details from the Adar portal so you

can enter the pan number so ideally a

pan is required for to apply for loan so

click on submit and then final

submit so with this we are done with the

section and it found my income details

because I filed income tax return so it

has fetched that that's what it was

showing me so when you land on the third

screen it is going to ask you your

personal details and everything so you

can add those details I'm skipping to

the education part now as you can see in

the education I just added uh that I am

a graduate so once you add uh graduate

it is also going to show you the other

fields so let me just put an approximate

percentage now as you can see uh I have

to add my graduation then I have to add

my HSC so I'm trying to search my uh

school here uh so as I'm not able to

find it I'm just clicking cancel but in

your case you can put other also so then

after that I have the employer details

which if you are a working person you

can add the employer details and finally

click proceed so now we are done with

the fourth section as well now in the

fifth section as you can see it is

asking me do you have a bank account yes

or no so now I'm going to click no just

to proceed forward but then you can

upload the bank statements by clicking

on yes IDE it is better to put it

because you'll have to receive the

subsidy in that account now we are on

the next screen which is on you know

course details so here uh I have put

outside India you can see you know it is

asking me all these details so let me

just fill it quickly so Kota selection

Merit how I got the admission then uh

The Institute name so actually for

foreign universities you won't face an

issue because you can type it if it is

if you are applying for studies in India

it'll give you an option the drop down

menu so if you are not finding your

option in the drop down menu you can

write others yeah so because I have

applied for abroad I'm I've just put the

foreign University details now this

course start date and course completion

date is actually tentative date because

no one is going to know exactly you know

when is the course starting so I'm just

going to put some tentative dates

because I put two years so it took the

completion date automatically now

passport of course you know if you're

going abroad you have to have a passport

so click on yes and put the number and

uh will you take up a part-time course

idly put no because you know you're are

not sure yet so just put no on that and

now you can see there are details of you

know other costs so tution fee exam fee

equipment accommodation everything

you're going to put uh you know as per

your offer letter please try to be as

accurate as possible convert your

foreign currency to Indian currency as

on today and put those numbers so I put

10 lakhs for first year 10 lakhs for

second year exam fee I'm just going to

roughly put you know 10,000 or let's

make it 1

lakh yeah 1 lakh in both the years it's

just approximately you know it will be

there on your I20 or offer letter

equipment is actually laptop or

something if you're going to include

that in the loan I'm just putting it

zero for now accommodation expenses are

your living expenses which you're going

to quote again if you're going to us

your I20 has that amount uh if you're

going to other countries you have you

know that amount on your offer letter or

on Embassy website other expenses I just

added zero but you can add your flight

expenses there scholarship if you you

click yes it'll ask you the details just

put no for now uh you can add those

details again I'm just clicking no and

are you willing to pay interest during

course period so in this case you know I

would suggest you not to click yes

because you know even though you're

willing you can make those payments

during your course but most of the

public Banks it is not mandatory to pay

interest during course period so it's

better to click no yeah so I'm going to

click no in this yeah so do you have a

collateral so if you're taking a loan

above 7. 5 LS you have to put a

collateral so you're going to put

approximately owned house residence

approximate value otherwise you can you

know skip this

section

proceed and now we are on the seventh

section so it is asking me do I have any

loans on my name so actually I don't

have any loans so I'm just going to skip

otherwise you can add the loans

proceed and now in this section it is

asking me to upload documents you can

see it's mostly academic documents proof

of Admission cast certif certificate so

you can upload it I'm going to skip

it so now with this my applicant profile

is completed uh now I have to add the

co- applicant profile if I'm trying to

submit it is not going to accept it

without Co applicant so let's add co-

applicant so now I'm going to add co-

applicant here so as you can see uh

there is one more question after the

relationship that whether consider him

as a guarant or not so I'm going to put

it as yes because in every loan uh which

is uh you know above 7.5 lakhs guaran is

mandatory and if it is a secured loan

guaran is the same person as the

property owner so by clicking yes you

are saying that the guaran or the the

person which you are adding here is also

your guarant so let's click yes and

proceed now you're going to give your

consent for every section you know

income tax bureo udum other consents

agree and proceed now we are on the same

screen as we were in the applicant SE

section so you have to put the Adar

number of your co- applicant here so now

once you add his Adar number we will

have to provide the consent to share the

details and then get OTP so your co-

applicant will get OTP enter the OTP

here and click submit so as you can see

the Adar details are already feted and

we are putting pan details submit and

now these are the personal details of

your co- applicant so you can fill this

section and now after the personal

details you will also see on the same

screen that there are employability

details so you can add others or salary

and you know you can put in the details

so let me just put some dummy data HCL

designation let's put other working with

so these are the things which you have

to fill in for your co- applicant and

proceed so now in this particular

screenshot you can see that there are

two options you can upload or you can

verify your account so now I am going to

click on uh read instructions so now

once you click on this you will get a

popup and only after that you will get

the upload button so I will go with

verify my account option so if I click

on verify my account it will ask the

account holders name so here you have to

put Co applicant Account Details okay

not yours so I'm just you know just

putting dummy data as you know my

account details but you have to put Co

applicants add everything click on

verify so now your bank account details

are verified we are on the next section

which is ADD exist ing loan so now again

uh if your co- applicant has any uh

details you have to add the loans

otherwise you can just uh skip so now we

are on the next section which is upload

documents so here you have to put income

certificate and proof of residence I

skipped it so now finally we are on the

page where co- applicant is also added

so applicant is also added I'm going to

click on submit once you click submit it

will ask you which Co applicant you're

considering so I tried adding other one

also so I'm removing that submit and Fin

finally the application is getting

submitted so finally it told me that I'm

not eligible for the edar subsidy scheme

let me see why so for that I can click

on my applications to see the reason so

now here it is showing the income is

greater than the limit set so actually

what happened when I started the

application I kept my income as 4 to six

lakhs but ideally when the system

checked because it took a consent for

income tax portal also when it checked

my income it realized that my income is

higher than 4 to six lakhs so which

actually is right so that's why I am not

eligible for this subsidy scheme but in

your case you might be eligible so when

you put the exact figures the end screen

will tell you whether you are eligible

or not so now after this section uh you

know because I was not eligible I

couldn't take the screenshots I've taken

it from some other student uh so these

are the two screenshots which I have

puted on the screen uh in this you can

see that uh you know uh if you are

eligible is if after submitting if you

eligible you will get this screen which

is choose Branch so here you have to uh

choose the branch where you are

processing the loan ideally do this step

only after your vmx scholar financial

officer has guided you on the checklist

and you have visited the branch with all

the documents because if after filling

this you realize that the branch is not

good then you'll have no option to

change it and you'll be struck with that

Branch so please before selecting this

branch and after clicking submit please

talk to your VX scholar Financial

officer and visit the branch once and

after that come on the screen and select

the branch now once you select the

branch the next screen you will see

which I have shown on the right hand

side is that it'll show you that the

application started date when you

started the application the applicant

details are already filled because I did

that and Co applicant details are also

filled and referred referred means you

have already selected the branch now the

other few three states which are left is

loan sanctioned loan disbursement and

subsidy claim so as you progress your

application in the public sector Bank

wherever you are you know proceeding

then these stages will you know once

they update in their system the

government has linked it so it'll get

updated here loan sanction loan disburse

and after that you can even make your

subsidy claim from the Jammer portal

itself that's it for this video I hope

you understood the entire process of

applying on Jamar portal and as I

mentioned there are frequent technical

glitches on this portal so if you facing

one you have to report it to us only

then we'll be able to inform the bank

and we'll let you proceed without it and

for that you should be applying for your

education loan via we Scholars you can

approach us for any amount of abroad

education loan or for studies in India

loan above 7.5 lakhs and as I mentioned

earlier all the services of emx Scholars

are completely free of cost we are

funded and supported by the ministry of

it government of India and if you need

help with your education loan

application you can talk to your

financial officer for the that you can

request a call back using the link

mentioned above now if you have any

questions about this video feel free to

put it in the comments below and I'll

definitely get back to each one of you

and if you appreciate the effort we put

into doing all this research and

applying on the portal to show you all

that information then please subscribe

to our Channel and do like this video

stay tuned for my next video see you

soon