At present, there is no proposal under the consideration of the Government to waive off the education loans sanctioned to the students who could not get a job after completing their studies. The Government had in the Budget 2012-13 announced setting up of a Credit Guarantee Fund for Education Loans to ensure better flow of credit deserving students.
Education loans are extended as per Model Educational Loan Scheme of Indian Banks’ Association (IBA) as adopted by the Banks. Under the Scheme, education loans can be given upto a ceiling of Rs. 10 lakh in India and Rs. 20 lakh abroad. Banks may consider higher quantum of loans on course to course basis. The Scheme is modified from time to time keeping in view the needs of the students. In the last such revision in September 2012, degree/diploma courses like aeronautical, pilot training, shipping etc, were added in the Model Scheme for studies abroad provided these are recognized by competent regulatory bodies in India/abroad for the purpose of employment in India/abroad
Education loans are extended as per Model Educational Loan Scheme of Indian Banks’ Association (IBA) as adopted by the Banks. Under the Scheme, education loans can be given upto a ceiling of Rs. 10 lakh in India and Rs. 20 lakh abroad. Banks may consider higher quantum of loans on course to course basis. The Scheme is modified from time to time keeping in view the needs of the students. In the last such revision in September 2012, degree/diploma courses like aeronautical, pilot training, shipping etc, were added in the Model Scheme for studies abroad provided these are recognized by competent regulatory bodies in India/abroad for the purpose of employment in India/abroad
9 comments:
Informative Blog!!!
In todays time, due to economic problems students stop there study and can't study further. But now education loan helps them out and comes as a solution to them. Due to Education loans in india, now its possible for the students to carry on there studies. Thanks for bloging....
Hi there, it was an interesting read as to how prepayment tactic helps us reduce costs on education loans. The article beautifully renders an account of information that can help students who are in the middle of thinking for ways to repay student loans. However informative, the article only covers banks and doesn’t mention any private institutions that offer prepayment services. I checked up avanse.com and they are providing the above stated service.
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I am a private loan lender which have all take to be a genuine lender i give out the best loan to my client at a very convenient rate.The interest rate of this loan is 3%.i give out loan to public and private individuals.the maximum amount i give out in this loan is $1,000,000.00 USD why the minimum amount i give out is 5000.for more information contact us email honestloan10@gmail.com
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