For higher education in India, students must be residents of India. For studying in foreign countries, the student must be above 18 years of age and should hold Indian citizenship. The student should also produce documents to prove his result at qualifying examinations such as SAT, TOEFL, GRE, GMAT, AGRE etc. The duration of the course in India should be within 5 years and the duration of the course abroad should be within 3 years.
The student must produce photocopies of all education certificates, starting from SSC till the latest educational qualification. The college or university authorities should issue a certificate every year stating the continuation of the student’s education.
1) Degree and Diploma courses for graduation and post-graduation comprising of the following disciplines-medicine, engineering, science, commerce, humanities, agriculture, pharmacy, veterinary science etc.
2) Post graduate diploma courses in computer application from several renowned institutions such as APTECH, NIIT, SSI, BITECH etc.
With interest subsidy: Base rate + 2 percent, which comes up to 13.50 percent
Without interest subsidy: Base rate + 3.75 percent, which comes up to 15.25 percent
Upto Rs. 4 lakh - No security is required
Above Rs. 4 lakh – Satisfactory guarantee is required from the student, parents or guardian in the form of collateral security. Shares, Insurance policies, IVP, bank deposits, land or building can be considered as security as long as their value is equal to the amount of educational loan granted to the student
Purchase books, study material, equipment and instruments
Pay hostel fees and boarding charges
For studies abroad, fund expenses of air travel, incidental charges, purchase of outfits (clothing & other equipment)
Fund other education-related expenses such as examination, library and laboratory fee, uniforms, caution deposit, building fund or refundable deposits supported by Institution bills and receipts, up to 10% of the total tuition fees for the entire course
Purchase computers needed for the course.
Insurance premium for student borrower
Any other expense in relation to the course - study tours, project work, thesis etc.