Education loans aims at providing financial support to deserving / meritorious students for pursuing higher education in India and abroad.

1. Educational Loans

2. Educational Loan

3.  Government of India in consultation with Reserve Bank
of India (RBI) and Indian Banker's Association (IBA) has
framed a Comprehensive Educational Loan Scheme to
ensure that no deserving student in the Country is
deprived of higher education for want of finances. The
new scheme covers all type of courses including
professional courses in schools and colleges in India and
abroad.

4. THE SALIENT FEATURES OF THE SCHEME
ARE AS UNDER
 The scheme envisages loans up to Rs.7.5 lakh for studies in India
and up to Rs. 15 lakh for studies abroad.
 For loans up to Rs. 4 lakh no collateral or margin is required and
the interest rate is not to exceed the Prime Lending Rates (PLR).
For loans above Rs. 4 lakh the interest rate will not exceed PLR
plus 1 percent.
 The loans are to be repaid over a period of 5 to 7 years with
provision of grace period of one year after completion of studies

5. TAX BENEFIT
 Repayment of an education loan is deductible under section 80E of
the Income Tax Act. The yearly limit for deduction is Rs. 40,000 (for
both the principal and the interest). Only loans taken for higher
education - full time studies in any graduate or post-graduate,
professional, and pure and applied science courses - may claim
deduction. The deduction will be available for a maximum of eight
years starting from the day you start repaying.

6.  Equitable Access to quality higher educational loans has been a
concern of the University Grants Commission. To this purpose the
Commission, besides encouraging colleges and universities to
provide for liberal financial support to the meritorious but needy
students, has also been instrumental in educational loan scheme.
The Reserve Bank of India (RBI) has issued guidelines in this
regard to all commercial banks. A large number of banks have
already launched educational loan schemes. Provided below are
links to the respective website of individual banks offering such
facilities.

7. DISCLAIMER
 Since the rules, regulations, eligibility conditions, repayments and
interests rates etc are revised by the banks from time to time in
keeping pace with the changing capital market conditions, students
and parents are advised to thoroughly check the terms and
conditions of educational loan scheme on offer at the time of
application.
 Source : http://www.ugc.ac.in/page/Educational-
Loan.aspx

8. https://www.facebook.com/AvanseEducationLoan
https://www.linkedin.com/company/avanse-financial-services
https://twitter.com/avanseeduloan
https://plus.google.com/+AvanseFinancialServicesLtdMumbai
https://www.youtube.com/channel/UCcsuUx1EH1C08XmX2embpug

9.  Read more on Educational Loans : http://www.avanse.com/avanse-
education-loans/