Question

What are educational loans?

Answer 1

1. Educational loan attempts to meet the educational aspirations of society.
2. A student is the main borrower.
3. A parent, spouse, or sibling can be the co-applicant.
4. It is offered to students who want to pursue higher education in India or overseas.
5. It can be taken for a full-time, part-time, or vocational course, and Graduation or Post Graduation.
6. There is no security required for the loan amount up to 4 lakhs
7. The loan is repaid by the student generally after employment.
8. Students can apply through the “Vidya Lakshmi Portal Education Loan Scheme”