#1
February 8th, 2016, 03:00 PM
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Education Loan in India
Hello sir I am Aditi and I am here as I want to get the details of the Star Education loan Scheme of the Bank of India for studying in India??
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#2
February 8th, 2016, 03:25 PM
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Re: Education Loan in India
As per your demand here I am providing you details of the Star Education loan Scheme of the Bank of India for studying in India The Star Educational Loan Scheme aims at providing financial support from the bank to deserving/ meritorious students for pursuing higher education in India and abroad. The main emphasis is that every meritorious student is provided with an opportunity to pursue education with the financial support on affordable terms and conditions. Eligibility Criteria: Student's Eligibility: Should be an Indian National; Secured admission to professional/technical courses in India or Abroad through Entrance Test/Merit based selection process. Good academic career. The student should not have outstanding education loan from any other Institution. Father/Mother should be co-borrower. Branch nearest to the permanent residence of student will consider the loan. Eligible Course: Graduation/ Post Graduation courses Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc. Courses conducted by IIM, IIT, IISc, XLRI, NIFT, NID and other Institutes set up by Central/State Govt. Other courses leading to diploma/degree, etc. conducted by colleges/universities approved by UGC/Govt./AICTE/AIBMS/ ICMR, etc. Professional courses not approved by AICTE and conducted by Institutes not recognized by State Universities is outside the purview of the eligibility under the scheme. Expenses Considered for Loan: Fee payable to college/school/hostel Examination/Library/Laboratory fee. Purchase of books/equipment’s/instruments/uniforms. Caution deposit/building fund/refundable deposit supported by Institution bills/receipts. Travel expenses/passage money for studies abroad. Purchase of computers - essential for completion of the course. Insurance cover for the student. Any other expense required to complete the course - like study tours, project work, thesis, etc. Quantum of finance: Studies in India - Maximum Rs.10.00 lakh Margin: Upto Rs.4 lakh : Nil Above Rs.4 lakh - Studies in India : 5% Margin to be brought in on year to year basis as and when disbursements are made |