Education Loan for students, Banks offering Educational Loans India

EDUCATION LOAN - Student Loan Schemes offered by Banks in India - Educational Loans for Students - Educational Loans for Students Student Loans, Higher Education Loans, Loan for Study Abroad. Educational Loan, Banks

Education Loans for Students 

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Congratulations ! You finally got into a professional college. After months of waiting, months of Preperation for your Entrance Tests and general anxiety, you got through. Now that you have got admission into a Professional Course all you have to do is figure out how to pay for it. If you’re like most people, the idea of paying for Professional college Education out-of-pocket isn’t even close to reality. The cost of education rises every year – much faster, most likely, than money accumulates in your bank account. Today, hefty student loans are an unfortunate fact of life.

However, you need not worry. There are lots of Student Loan Options and Student Loan Schemes being offered by various Banks and Institutions. Here are a few Student Loan Resourses which may be of help to you. We have Listed down the Banks offering Student Loans, Various Student Loan Schemes being offered by them, Eligibility for Student Loan, Documentation required for applying for a Student Loan and related information. This Service is being offered free.

Education loan portfolio of banks, which saw a growth of about 30-40 per cent in 2007-08, is set to witness a growth of about 40 per cent in 2008-09, according to senior bank officials.

Bankers attribute the healthy growth in the portfolio to the ever-increasing demand among the younger generation and the lower number of non-performing assets.

Banks have adopted various schemes to facilitate the growth of the education loan portfolio. Apart from tying up with several institutes and offering interest rate discounts, they also accord online sanctions and ensure speedy disbursal of the loan.

State Bank of India, a major player in this field, recorded a growth of 35 per cent in educational loans and grew by Rs 1,000 crore in 2007-08, Mr P. Nandakumaran, Chief General Manager, Personal Banking, SBI, said. “We plan to sustain the growth at 35 per cent this year,” he said.

Andhra Bank has set a target to grow by 20-25 per cent this year. The current exposure is at Rs 1,800 crore. “We have tied up with a number of universities such as ICFAI, IIBM and some universities in Pune. We offer some discount on interest rate for students in these universities,” said a senior bank official.

 

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Student Loans in India

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