The Hindu : Andhra Pradesh / Hyderabad News : Education loans for poor students offered

Online edition of India's National Newspaper
Monday, Sep 04, 2006

Andhra Pradesh

Andhra Pradesh - Hyderabad

Education loans for poor students offered

Staff Reporter

Rs. 15-lakh loans for studying abroad under the scheme

HYDERABAD: As per the directions of Reserve Bank of India, banks will provide educational loans as financial assistance for poor students for pursuing professional courses.

Loans up to Rs.7.5 lakhs for studying in the country and Rs.15 lakhs for studying abroad will be provided under educational loans scheme.

After banks granted Rs.645 crores for educational loans during 2005-06, the State-Level Bankers' Committee (SLBC) has fixed a target of Rs.925 crores for 2006-07.

Educational loans up to Rs.750 lakhs will be given without insisting on collateral security.

Professional courses

The SLBC advised banks to issue instructions to their branches to ensure that loans should be provided to eligible students.

The Finance Department will review the progress regularly in the meetings with the SLBC.

As per the eligibility criteria of the scheme, courses eligible for studying in the country are school education, graduation and post-graduation, professional ones like ICWA, CA, computers and other courses offered in the country by foreign universities, according to a press release issued by the Finance Department.

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