Banks in India under public and private sector as well as scheduled banks and some non-banking financial institutions offer educational loans to facilitate Indian students to pursue academic courses abroad. Usually banks do not offer education loans for vocational courses but the non-banking financial institutions, however, offer the same.
The education loan is provided to those students who have obtained admission to career-oriented courses e.g. medicine, engineering, management etc., either at the graduate or post-graduate level.
Quantum of Loan
The quantum of finance under the education loan scheme is usually capped at Rs 20.00 lacs for studies abroad and would cover tuition fees, hostel charges (if any), cost of books, etc.
There is a percentage of margin for higher studies overseas. It varies from bank to bank.
Sunsea provides appropriate guidance to students on the eligibility criteria, requirements of documents and also enlighten them on the rules and regulations governing these loans with the actual procedure to be followed. These advice are from top notch erstwhile bank officials and will be of immense assistance to students wishing to pursue studies abroad through Sunsea.