Studying abroad sounds great! However, even the thought of studying abroad comes with an image of expenses in mind, right? But we believe that dreams should not break because of financial issues. So, here is a list of 5 Best Government Education loans for Study Abroad. In addition, you can also check TOP Scholarship for studying Abroad after 12th . This will not only help you in pursuing your studies abroad but also land you better career opportunities.
Don’t Miss: Study abroad at less price for middle-class Indian
TOP Government Education loans for Study Abroad
1. Padho Pardesh Education Loan
Padho Pardesh Scheme is a government education loan scheme to study abroad availed by Canara bank. However, this scheme launches aid to aspirants who belong to minority sections. Though, the criteria require them to have a good academic score. Meanwhile, this loan has been declared under Section 2(C) of the National Commission for Minorities Act (1992). In addition, one can also pursue higher studies, for example, Masters’ or Ph.D. through this scheme.
2. Dr. Ambedkar Central Sector Scheme
Dr. Ambedkar education loan is a central sector scheme that comes under the Ministry of Social Justice & Empowerment, Government of India. Hence, this scheme also gives overseas opportunities to minor sectors. Whereas, this is only applicable to students pursuing their higher education like a Master’s, Ph.D., or M.phil degree. However, they can only use this scheme once in a lifetime, either for Masters’s or doctorate degree. The moratorium period of this scheme is the same as the Padho Pardesh scheme.
3. Vidya Lakshmi Education Loan
Vidya Laxmi education loan is a government scheme that allows student to pursue their graduate, postgraduate, and doctorate degrees abroad. First, this scheme awards a maximum amount of 30 Lakh to the students. In addition, the moratorium period of this scheme is six months after the students land the job or one year after the course completion. The criteria, without a doubt, is to have 10+2 from a recognized board.
4. Gujarat Government Education Loan
Gujarat Government Education Loan is a recognized scheme by the state government of Gujarat to promote higher education overseas. In fact, this loan offers 100% subsidy to the economically backward class with Gujarat merit. However, the maximum amount awarded for this scheme is INR 15 lakh. In addition, this scheme is available to a variety of courses for studying abroad, and these include undergraduate, postgraduate, language courses, certificate courses, and even training programs.
5. NBCFDC Education Loan Scheme
The National Backward Classes Finance and Development Corporation (NBCFDC) is an amazing scheme that provides foreign education loans to the OBC category and backward classes which are below the poverty line. Without a doubt, this loan is applicable to undergraduate, postgraduate and technical or professional courses. However, the maximum amount rewarded for this loan is INR 20 lakhs with an interest rate of 4% and 0.5% concessional rate for females.
In Conclusion, we can say that anyone who is passionate can study abroad with help of these government foreign education loans. However, you will need some necessary documents required to get an education loan. So, you must prepare them all. For more queries, feel free to reach us!
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