education loan in kerala , cenetr goverment scheem 2021

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Before choosing a course, one has to think about whether one can get a job by studying that particular course. Even if we choose the course in this way, getting a job is very difficult in today’s situation. But most students rely heavily on education loans for their study needs. However, if you approach an g financial institution to get an education loan, you may face delays in getting the loan and you may face many problems related to it. In addition, the amount to be spent on each course increases with each passing year. Today we are going to look at how to get an education loan very easily in such a situation.

The Vidyalakshmi Scheme is a joint venture between the Ministry of Finance under the Central Government, the Indian Bank Association and the Union Ministry of Human Rights to provide further education to students from poor or ordinary families. Each student can apply for the required education loan through the Vidyalakshmi portal. The site provides education loans and application information from about 30 banks in the country. Students studying within India can avail education loans for UGC, AICTE, Medical and Government recognized courses such as graduate, PG professional and technical diploma courses. In addition, education loans are available for regular degree diploma courses at IITs and IIMs, government-approved teacher training and nursing courses, and Director General of Civil Aviation, Shipping, Pilot Training and Marine courses.

Students studying abroad can apply for loans for vocational professional technical courses, PG Diploma courses, MBA,MCA and MS courses from top universities outside. Loans are also available for CPA and CMA courses.

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How much amount available for an education loan ?

The entire amount required for the study can be obtained as a loan. This includes the cost of academic fees, books, hostel, library, study materials and project tour. Students studying in India can get a maximum loan of Rs 75 lakh and work abroad can get a loan of up to Rs 1.5 crore. The loan is based on the cost required to complete the course. Once the loan is passed, the amount will reach the institution where you are studying in various stages. For margins up to Rs 4 lakh, there is no margin but for those studying above, the margin is fixed at 5% for students studying in India and 15% for studying abroad. That is, a loan of up to Rs 7.5 lakh does not require collateral. The Education Loan Guarantee Scheme will address the problems of parents and students.

Repayment is based on interest and maturity. The repayment period of the education loan is said to be up to a maximum of 15 years. If you choose another course within a year of completing one course, you will also get a loan for that course through TopUp‌ loan. In doing so, it is sufficient to complete the second course and start repaying within one year. Some subsidies are available for financially disadvantaged students. If the annual income of the student or parent taking the loan is less than Rs. 4. 5lakhs, he / she will get a subsidy from the government subject to rules.

How to apply?

Applicant can open the portal and get the loan amount through the bank of your choice from more than 35 banks in the country sanctioned by the Central Government. Moreover, each student can choose the loan that suits them best. To register, register on the website using your name and e-mail and then activate your account using the activation link received via e-mail. Then log in to your account. Select the required loan and the scheme accordingly. It is possible to apply to three banks simultaneously. But it can be applied only to one scheme of a bank. The portal lets you know where the bank of your choice has branches. You will need to fill out a Common Loan Application and submit all certificates as a document. should be taken to provide the exact phone number when submitting the application online. This is because the bank will contact you through this phone number for

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