Higher Education has a noteworthy contribution in the Indian Economy. Education contributes to social, and economic growth of a region. Higher Education increases labour productivity and individuals’ income and that of the whole economy. Hence, it is necessary to develop an education system which generates human capital for achieving social and economic development. Present study is based on the socio-economic growth due to Education Loan. A set of 377 Questionnaires were distributed to Beneficiaries and 126 to Bank Employees. The main objective of study is to identify the relationship between Education Loan and socio-economic growth of people.