KSBCDC Education Loan to Study Abroad: Kerala State Backward Classes Development Corporation provides overseas education loans to give financial assistance to students aspiring for higher education abroad. There are two education loan schemes by KSBCDC for students. If you are living in Kerala and planning to escalate your career to the next level with overseas education, this blog is just for you. Let’s have a look at some of the main features, benefits, and eligibility of education loans to study abroad provided by KSBCDC.
Table of Contents
Objectives of KSBCDC Education Loan
KSBCDC is providing two education loans for aspiring students to study abroad. Education Loan Scheme 1 is specifically for the students belonging to the OBC community. Education Loan Scheme 2 is specifically for students belonging to minority communities. The aim of the KSBCDC education loan to study abroad is to provide financial assistance to aspiring students belonging to backward classes. The main objective of the education loan schemes is to promote higher education. The education loan is provided to empower youth for the future with the help of quality education. It provides opportunities to study in selected foreign universities in various fields including medicine, engineering, agriculture, pure science, etc. It also allows students to pursue vocational courses as well.
| Name of the Scheme | Education Loan Scheme |
| Amount of Loan | Upto INR 20 lakhs |
| Repayment Period | 60 months |
| Rate of Interest | 3.5% p.a. for girls 4 % p.a for boys |
| Moratorium Period | The repayment period shall commence after six months of completion of the course or getting a job whichever is earlier. For medical courses internship period plus six months shall be considered a moratorium period to fix the first due date. |
Also Read: Facing financial distress due to high-interest rates? Check all the information about Education Loan Refinancing and get a balance transfer for the loan.
Eligibility of KSBCDC Education Loan
If you are living in Kerala and aspiring to study abroad, you are eligible to get financial assistance from the government. Check out the eligibility criteria for the KSBCDC Education loan.
- The applicant must be a resident of Kerala.
- The applicant must belong to the OBC community.
- The age limit is 16-32 years.
- The annual family income must be INR 3 lakhs.
- The applicant should have secured admission to the university abroad. (Note: The list of universities covered under the loan is mentioned on the website. Be sure to check out the names of all the foreign universities covered under the education loan scheme.)
- For the medical courses, the Institute must be approved by the National Medical Commission.
- Distance education or off-campus courses are not covered under this education loan scheme.
- Only one live loan is permitted at a time from the same family.
Documents Required for KSBCDC Education Loan
Also Read: To apply for the KSBCDC education loan, keep your documents ready. The list of documents you should keep in mind while applying for an education loan is very important.
- An admission letter is one of the most important documents.
- Proof of obtaining admission needs to be submitted.
- A valid passport is a must to avail an education loan.
- Age proof of the student is a must to apply for an education loan.
- Age proof of the parents is also important.
- List of expenses certified by a competent authority.
- All academic documents need to be submitted.
- Documents related to property for secured education loan (If required).
- The Accreditation status from the Association of Indian Universities, New Delhi.
How to Apply for KSBCDC Education Loan
The application procedure for a KSBCDC education loan is quite simple and easy. You just need to buy an application form from the official website. Navigate to the Application Issue tab on the official website. Enter applicant name and details. Also, enter your loan scheme and caste and click on submit. Download the application form and get it ready with the documents. After completion of the application form submit the form.
Also Read: Check Out All The Details About Loan Restructuring In One Of Our Specialised Blogs Education Loan Restructure!
FAQs
The age limit to apply for KSBCDC Education Loan to study abroad is 16 to 32 years of age.
The maximum amount of loan provided is INR 20 lakhs.
For medical courses, NEET qualification is compulsory to apply for KSBCDC Education Loan to study abroad.
No, distance education and off-campus courses are not covered under the KSBCDC Education Loan.
No, only Keralites are eligible for KSBCDC Education Loan to study abroad.
Hope you liked our blog about the KSBCDC Education loan to study abroad. To know more about the loan application process, the best bank accounts for students, forex and banking experience for global students, or international money transfers, contact our experts at 1800572126 to help ease your study abroad experience.
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