Salem Sowdeswari College
Salem Sowdeswari College
   About Educational Loan   

About Education Loan

                     Government of India in consultation with Reserve Bank of India (RBI) and Indian Banker's Association (IBA) has framed a Comprehensive Educational Loan Scheme to ensure that no deserving student in the Country is deprived of higher education for want of finances. The new scheme covers all type of courses in schools and colleges in India and abroad.
The Salient features of the scheme are as under:

The scheme envisages loans up to Rs.7.5 lakh for studies in India and up to Rs. 15 lakh for studies abroad.

  • The loans are to be repaid over a period of 5 to 7 years with provision of grace period of one year after completion of studies

Documents Required

  1.  Completed Education Loan Application Form.
  2.   Mark sheets of last qualifying examination
  3.   Proof of admission scholarship, studentship etc
  4.   Schedule of expenses for the specified course
  5.   Two passport size photographs
  6.   Borrower's bank account statement for the last six months