Quality education is a must for a complete and successful life. For many, it is equivalent to graduating from a top institution. The cost of education is, however, increasing rapidly. In fact, the cost of studying at reputed institutions is already quite high.
Keeping this in mind, parents, who want to provide their children with the best possible education, invest their money in mutual funds (MFs), fixed deposits (FDs), unit-linked insurance plans (ULIPs), etc., for the long term.
What does an education loan cover?
It covers the basic course fee and other related expenses such as (college) accommodation, exam and other miscellaneous charges.
Who can apply for the loan?
A student is the main borrower. A parent, spouse or sibling can be the co-applican ..
Whom is the loan offered to?
It is offered to students who want to study in India or pursue higher education overseas. The maximum amount offered for studies in India and overseas are different and varies from one bank to another.
Types of courses covered under the loan
It can be taken for a full-time, part-time or vocational course and graduation or post graduation in the fields of engineering, management, medical, hotel management, archit ..
Eligibility, documents required
To apply for the loan, one must be an Indian citizen, having secured an admission into a college/university recognised by a competent authority in India or abroad. The applicant must have completed his higher secondary level schooling.
Some banks offer the loan even before one has secured admission into the university.
FOR MORE INFORMATION CONTACT TO:
Training and Placement Officer
Contact No: 9428221105