Most public sector banks and private banks provide education loans to students for pursuing higher professional or technical programs abroad. Sanctioned loan can be used to cover university fees, purchase of books, equipment, travel expenses and purchase of computers. Students are advised to take loans preferably taken from a Nationalized banks. The terms & conditions for educational loans may vary from bank to bank.
OBJECTIVE & PURPOSE OF BANK OF INDIA:
The Educational Loan Scheme aims at providing financial support from the bank to deserving/ meritorious students for pursuing higher education in India. The main emphasis is that every meritorious student is provided with an opportunity to pursue education with the financial support on affordable terms and conditions.
- Should be an Indian National;
- Secured admission to professional/technical courses in India or Abroad through Entrance Test/Merit based selection process.
- Good academic career.
- The student should not have outstanding education loan from any other Institution.
- Father/Mother should be co-borrower.
- Branch nearest to the permanent residence of student will consider the loan.
Studies in India (Indicative list) :
- Graduation/ Post Graduation courses
- Professional courses: Engineering, Agriculture, Management, Computer, etc
Courses conducted Institutes set up by Central/State Govt.
- Other courses leading to diploma/degree, etc. conducted by colleges/universities approved by UGC/Govt./AICTE/AIBMS/ ICMR, etc.
GUIDLINES AND RESOURCES
Documents required by banks for extending education loans
|S.No.||Documents Required for Applying for Educational Loan|
|1||Admission letter of the Educational Institute giving details of fee, boarding and lodging expenses. Letter confirming scholarship, if any.|
|2||Attested copies of documents for proof of age/date of birth and proof of residential address.|
|3||Passport size photo of the applicant, co-obligants and guarantors.|
|4||Copy of the PAN card of student and Parents Borrower|
|5||Copy of marksheets/degree certificates of previous academic qualifications.|
|6||Income proof/latest income tax return of parents/co-obligants, guarantors. (if any)|
|7||Details/statements of Bank accounts held by the student applicant/co-obligant(s)/guarantors (if any) for the last six months.|
|8||Details of collateral security alongwith valuation certificate of Govt approved valuer (if any). (In case of loan amount more than Rs: 4.00 Lacs)|
Banks in India providing Educational Loans
Following are some of the premier banks of India that are providing educational loans. Click on the banks to know the details.
The University is serving the technical education through its progress monitored each semester, part time Ph.D programme especially designed for the teachers and scientists by giving them opportunity to explore the untouched area of the research. The University in its own campus running M.Tech and M.Pharma Programme in various disciplines.
AICTE: The AICTE was constituted in 1945 as an advisory body in all matters relating to technical education. All the new schemes and proposals for starting new institutions/programmes were approved by the corresponding Regional Committee and subsequently vetted by the council.
For More details candidate may visit the MHRD Website for Scholarship Schemes
Please Visit http://mhrd.gov.in/scholarships-education-loan-4