Bank Loan Assistance
Most public sector banks and private banks provide education loans to students for pursuing higher professional or technical programs abroad. Sanctioned loan can be used to cover university fees, purchase of books, equipment, travel expenses and purchase of computers. Students are advised to take loans preferably taken from a Nationalised banks. The terms & conditions for educational loans may vary from bank to bank.
Objective & Puspose of Bank of 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 :
- 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 :
Studies in India (Indicative list) :
- Graduation/ Post Graduation courses
- Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc
Courses conducted 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.
Note : 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/equipments/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.
*As per brochure/ demand letter from the institution.