|Education is a very important and valued aspect of life. But at times, due to the financial constraints one is not able to carry on with education. But now, education loans are easily available from various banks in India and this change is encouraging more and more students to take up higher education despite their financial shortcomings.
Any student who has secured admission in any institute of repute, whose degree/diploma is recognized by University/Institute affiliated to any Central/State Statutory Body or recognized by AICTE (All India Council of Technical Education) and other institutes of repute, is eligible for educational loan.
The maximum amount of education loan available is up to Rs. 7.50 lakhs in case of studies in India and Rs 15 lakhs for studying abroad. This loan covers the cost of the school/college fee, hostel expenses, and cost of books and stationery.