Loan For Foreign Study (S.E.B.C.)
The scheme aims to support higher education abroad for eligible students from the Socially and Educationally Backward Class (SEBC). It provides a maximum Foreign Study Loan of ₹15,00,000/- at an annual interest rate of 4% to SEBC students.
About This Scheme
Benefits
##### Financial Assistance
₹15.0 L
A maximum Foreign Study Loan of ₹15,00,000/- is provided for higher education abroad.
The loan is offered at a simple annual interest rate of 4%.
The loan covers costs such as air tickets, registration fees, tuition fees, education fees, hostel fees, books, and other expenses associated with the first year of the course abroad.
##### Disbursement Conditions
₹15.0 L
The full loan amount of ₹15,00,000/- will be disbursed to the student in a single installment.
The money will be deposited into the student's bank account after the submission of the original registered mortgage deed.
##### Post-Selection Obligations
After the sanction order is received, the student's parent or guardian must obtain the prescribed mortgage deed form from the District Office.
The property presented by the student's parent/guardian or the guarantor must be registered as a mortgage in favor of the government.
The loan repayment must begin one year after the completion of the student's study.
The loan must be repaid in monthly or quarterly installments.
The principal loan amount must be fully repaid within a maximum period of 10 years.
The interest amount must be fully repaid within a maximum period of 2 years.
The student must ensure all required documentation is completed within the prescribed time limit.
Eligibility
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Required Documents
- ✦##### During Application
- ✦Caste Certificate.
- ✦Family Income Certificate.
- ✦Income Tax Return.
- ✦Form-16.
- ✦Mark Sheet.
- ✦Degree Certificate.
- ✦Offer Letter from Foreign University (Offer Letter/Letter of Acceptance).
- ✦Copy of Student’s Passport.
- ✦Copy of Student’s Visa (of the Foreign Country).
- ✦Copy of Air Ticket.
- ✦Parents’/Guardian’s Property Documents (And Valuation Report).
- ✦##### For Loan Disbursement
- ✦Registered Mortgage Deed (Original) (Required after approval for loan disbursement).
✦ Required ◦ Optional
How to Apply
Quick Info
- Level
- Central Government
- Max benefit
- ₹15.0 L