Edu loann..( Help)

I Got addmision in a pvt cllg they conducted a test and it was compulsory for addmision process but they've alloted me a seat on 12th percentage will i still be elligible for the PMVIDHYA LAXMI loan , will they reject saying that i wasn't alloted the course based on test merit ? As the bank need allotment and the test result they conducted

If anyone has ever been through this please reach out to me.