Conquer Your Dream Degree: Your Guide to Education Loans in India 

By Ash Sharma             Dec 18, 2023


Investing in Your Future: Education Loans Demystified 


Achieve your higher education goals in India or abroad with Education Loans.

The Power of Education Loans 

1. Finance your dream degree without financial constraints. 2. Focus on studies, not tuition fees. 3. Invest in yourself and secure a promising career.

Who is Eligible? 

1. Indian Nationals pursuing higher education (graduation, post-graduation, professional courses). 2. Studies in India or abroad at recognized institutions. 3. Specific criteria for loan amount and margin vary.

Loan Types and Amounts: 

 Studies in India:Up to Rs. 30 lakhs for medical courses. Up to Rs. 10 lakhs for other courses. Higher limits may be considered on a case-by-case basis.

Loan Types and Amounts: 

 Studies Abroad:Up to Rs. 7.50 lakhs for most courses. Up to Rs. 1.50 crores under the Global Ed-vantage Scheme.

Repayment Made Easy: 

1. Repayment period of up to 15 years after course completion. 2. 12-month repayment holiday after studies. 3. Equated Monthly Installments (EMIs) for convenient repayment.

Required Documents: 

1. Academic transcripts (10th, 12th, graduation if applicable). 2. Admission letter or offer letter. 3. Fee schedule and estimated expenses. 4. Proof of identity and address. 5. Income documents for co-borrower or guarantor. 6. Additional documents for loans above Rs. 7.50 lakhs.

Expenses Covered: 

1. Tuition fees, examination fees, library/lab fees. 2. Books, equipment, instruments, uniforms (up to 20% of tuition). 3. Caution deposits, refundable deposits (up to 10% of tuition). 4. Travel expenses for studies abroad. 5. Two-wheeler purchase up to Rs. 50,000. 6. Study tours, project work, and other course-related expenses.

Margin Money: 

1. No margin money for loans up to Rs. 4 lakhs (studies in India). 2. 5% margin for loans exceeding Rs. 4 lakhs (studies in India). 3. 15% margin for studies abroad.

Security Requirements: 

1. Loans up to Rs. 7.5 lakhs: only parent/guardian as co-borrower, no collateral. 2. Loans above Rs. 7.5 lakhs: parent/guardian as co-borrower and tangible collateral security.

Take the Next Step: 

1. Visit the desired bank website or branch for detailed information and loan application procedures. 2. Consider other lenders and compare interest rates and terms. 3. Seek professional guidance if needed.

Additional Resources: 

Central Sector Interest Subsidy Scheme (CSIS) and Credit Guarantee Fund Scheme for Education Loan (CGFSEL)

Empowering Your Dreams: 

1. Education loans are an investment in your future success. 2. Choose wisely, plan diligently, and conquer your academic goals.