Loan For Foreign Study (S.E.B.C.)

Applicants must have secured a minimum of 60% or more marks in their 12th standard examinations. However, if the applicant belongs to Notified Tribes/De-notified Tribes, More Backward, or Extremely Backward categories, the minimum requirement is 50% marks.

Yes, you must submit your application either before traveling abroad for your studies or within six months of arriving in the foreign country where you intend to pursue your higher education.

The scheme provides a maximum loan amount of ₹15,00,000/- (Rupees Fifteen Lakh) to eligible students for pursuing higher education in foreign countries.

After receiving the sanction order, your parent or guardian must obtain the prescribed mortgage deed form from the District Office and register the property as a mortgage in favor of the government. Once the original registered mortgage deed is submitted, the full loan amount will be deposited directly into your designated bank account in a single installment.

The scheme covers Diploma, Graduate, Post Graduate, Post Graduate Diploma, Doctor of Philosophy courses, or higher-level courses in any field. The course must have a minimum duration of one academic year or more, or consist of at least two semesters.

The applicant's family annual income must be less than ₹10,00,000/- (Rupees Ten Lakh) to be eligible for this loan scheme.

The loan is offered at a simple annual interest rate of 4%, making it an affordable option for eligible students seeking financial assistance for overseas education.

The loan covers various expenses including air tickets, registration fees, tuition fees, education fees, hostel fees, books, and other costs associated with the first year of your course abroad.

Loan repayment must begin one year after the completion of your studies. The loan must be repaid in monthly or quarterly installments according to your convenience and financial capacity.

The principal loan amount must be fully repaid within a maximum period of 10 years from the date you begin repayment, which starts one year after course completion.

Yes, you must submit one solvent guarantor with your application. Additionally, after approval, the property presented by your parent/guardian or the guarantor must be registered as a mortgage in favor of the government before loan disbursement.

Applicants must belong to the Socially and Educationally Backward Class. This includes various categories such as Notified Tribes/De-notified Tribes, More Backward, and Extremely Backward categories with specific eligibility criteria.

The interest amount on the loan must be fully repaid within a maximum period of 2 years from the commencement of your repayment schedule.

You must provide an Offer Letter or Letter of Acceptance from the foreign university, a copy of your passport, a copy of your visa for the foreign country, and a copy of your air ticket.