🏫 Purpose
To financially support students in pursuing undergraduate, postgraduate, professional, or vocational studies at Indian universities, colleges, or institutes approved by:
UGC (University Grants Commission)
AICTE (All India Council for Technical Education)
Medical/Nursing Councils, Law Councils, etc.
Other government-approved bodies
📌 Key Features
| Feature | Details |
|---|---|
| Loan Amount | ₹50,000 to ₹10 lakhs (sometimes more for premium institutes) |
| Eligible Courses | Degree, diploma, and certification courses (professional/vocational) |
| Tenure | Up to 15 years (including moratorium period) |
| Interest Rate | ~8% to 14% p.a. (varies by lender & loan size) |
| Moratorium Period | Course duration + 6–12 months grace before repayment begins |
| Collateral | Not needed for loans up to ₹4–₹7.5 lakhs (based on lender); above that may require security or co-borrower |
| Repayment | Starts after the moratorium; paid in EMIs |
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✅ Eligibility Criteria
| Requirement | Description |
|---|---|
| Nationality | Indian citizen |
| Age | 16 to 35 years (varies by bank) |
| Academic Performance | Should have secured admission in a recognized Indian institution |
| Co-applicant | Usually required (parent or guardian) |
📄 Expenses Covered
Tuition fees
Examination and library fees
Books and study material
Hostel or PG rent
Laptop purchase
Travel and commuting costs
Other academic-related expenses