Educate Yourself through Education Loans
Posted on | April 10, 2012 | Comments Off
Educate Yourself through Education Loans
Although the concept of education loans is positively recent in India, it has become the preferred choice for thousands of students going abroad to study every year. Here are we provide the answers of some frequently asked questions on the education loans and gives useful tips on how to get the best education loan and study loan.
When did the concept of education loans become popular in India?
The education loan was streamlined and reintroduced by banks after a Supreme Court order in 1999 to the Indian Bank Association ( IBA). Education loans became particularly popular when colleges and educational institutions increased their fees.
To support the higher education of students who could not afford the excessive fees charged by colleges, banks came forward to support their education through loans at affordable interest rates and extending the moratorium period to six months after completing their education.
Who is eligible for education loans?
The eligibility criteria are that the student should be an Indian national and should have secured admission to professional and technical courses in India or abroad through an entrance test or a merit- based selection process.
Based on the financial capacity of the parents, the maximum amount for studies in India is ` 10 lakh and it is ` 20 lakh for studies abroad.
What are the fields for which education loans are available?
1.
Graduation courses/ colleges under universities approved by the UGC.
B. A., B. Com, B. Sc., etc.
Master’s and PhD.
Professional courses like Engineering, Medicine, Agriculture, Law, Management etc.
2. Computer certificate courses of reputed institutes accredited to the Department of Electronics or institutes affiliated to a university.
3. Courses like the ICWA, CA, CFA etc.
4. Courses conducted by the IIM, IIT, IISc, XLRI, NIFT etc.
v. Regular degree/ diploma courses like Pilot Training, Shipping etc., approved by the Director General of Civil Aviation/ Shipping, if the course is pursued in India. In case the course is pursued abroad, the institute should be recognised by the competent local aviation or shipping authority.
5. Courses offered in India by reputed foreign universities.
6. Evening courses of approved institutes recognised by the state or central government.
7. Other courses leading to diplomas or degrees conducted by colleges or universities approved by the UGC , the AICTE, AIBMS, ICMR etc.
8. Courses offered by national institutes and other reputed private institutions recognised by the state or central government.
For studies abroad the fields for which education loans are available are:
1. Graduation: For job- oriented professional or technical courses offered by reputed universities.
2. Post Graduation: MCA, MBA, MS etc.
3. Courses conducted by the CIMA in London, the CPA in USA etc.
Loans are not available for vocational training and skill development courses as under the model educational loan scheme applicable in India, loans are only provided for higher studies.
Are education loans available for overseas education?
Yes. Educational loans are available for overseas education.
Do some banks have policies which are different or advantageous as compared to the standard education loan policies in the country?
No. The education loan norms are more or less same across banks
Getting the detailed information about Education Loans in India and Student Loans from India Academic Website.
WHY CAN’T YOU GET A SCHOLARSHIP?
Posted on | April 7, 2012 | Comments Off
Who does not want a scholarship? Everyone does. There is no exact reason why someone can get a scholarship at his first application. Either way, there are also some people prefer to take online masters degree in criminal justice for some reasons such as getting a more accessible education and saving much time and money. Some people want to get a scholarship to make their dream achieving a higher education to come true whilst others tend to get online master degrees. However, dealing with why someone is hard to get a scholarship, the following reasons may give you a brief picture.
The first reason is the personal statement is not strong enough. Writing a personal statement seems easy because it is only describing your own characters and personalities. Yet, one thing to consider about is the personal statement should be written in a clear description about who you really are. Applying an online nursing bachelors degree rather than applying a scholarship to get a bachelor degree may be different. Moreover, you need to know what your strengths and weaknesses really are. In addition, you have to learn on writing a good personal statement so that the readers will be interested and in this case will allow you to get a scholarship.
The second reason is the purpose of your study. Every student must have at least one reason why he/she wants to continue his/her study. Their purposes of study are also various. Your friends may find to continue their study through rn to bsn online so that they have more specialized roles and be more professional. They indeed have their own purpose of their study. Therefore, if you want to succeed to get a scholarship you have to state your purposes of study in a brief and exact explanation. It is very important to convince the scholarship committee that you are the perfect candidate to get the scholarship.