State governments that offer loans to students wishing to study abroad.

In terms of financial requirements, studying abroad in Canada, the United States, Australia, or even Ukraine is a difficult task. However, some Indian states offer student loans to help them achieve their goals.

State Goverment offering loan

The cost of education is one of the most important factors that students consider when researching higher education abroad. The rising cost of education, inflation, the falling value of the rupee, and an increase in interest rates as a result of repo rate hikes have all pushed students to seek out innovative ways to finance their higher education abroad.

Using government loan schemes that offer the lowest interest rates and interest subsidies is one of the best ways to save money on financing higher education abroad. Students who want to study abroad can consider the following government education loan programmes and interest subsidy schemes.

NBCFDC is a non-profit organisation established by the Government of India’s Ministry of Social Justice and Empowerment to help members of the backward classes who live below the poverty line. One of the organization’s best programmes is an education loan to pursue technical and professional courses abroad (and also in India).

IndiaEducation Counselling

This scheme is open to students who have been admitted to a graduate-level or higher course and have a family income of up to Rs 3 lakh. The scheme will cover 85 percent of the expenses for overseas education, up to a maximum of Rs 20 lakh. The student will be responsible for any remaining expenses.

The scheme’s interest rate is 4% p.a. for boys and 3.5% p.a. for girls.The moratorium period is set at 5 years, regardless of the type or duration of the course.

Loan repayment period – After the moratorium period expires, the maximum loan repayment period is ten years.

Cover Image
Notify of
Inline Feedbacks
View all comments
Web Stories
Indian Navy Recruitment 2023: Apply for 372 Vacancies From May 15 JEE Main 2023 Paper 2 result to be out soon | Details here ICSI CSEET May Result 2023 Declared Indraprastha University Increases Supernumerary Seats for Foreign Students to Welcome Global Talent Rozgar Mela: PM Modi to Grant 71,000 Appointment Letters to New Appointees TODAY