The Education Loan Scheme aims at providing financial support to students for pursuing higher education in India. The main emphasis is that a meritorious student, though poor, is provided with an opportunity to pursue education with the financial support from the banking system with affordable terms and conditions.
2 Eligibility Criteria:
2(i) Student eligibility:
a) Should be an Indian National.
b) Should have secured admission to a higher education course in recognized institutions in India through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent).
i) Approved courses leading to Graduate/ Post Graduate degree and PG Diplomas conducted by recognized colleges/ universities recognized by UGC/ Govt. / AICTE/ AIBMS/ ICMR etc.
ii) Courses like ICWA, CA, CFA etc.
iii) Courses conducted by IIMs, IITs, IISc, XLRI. NIFT, NID etc.
iv)Regular Degree/Diploma courses like Aeronautical, pilot training, shipping, Nursing or any other discipline approved by Director General of Civil Aviation/Shipping/ Indian Nursing Council or any other regulatory body as the case may be, if the course is pursued in India.
v) Approved courses offered in India by reputed foreign universities.
vi) Managing Director may consider financing following courses where placement record gives confidence about employability:
a) For studying part-time job oriented courses (evening classes or otherwise), which are approved/recognized by the regulatory body/ authority.