Introduction

The Society provides Education Loans to support deserving students in pursuing higher education in India. The scheme aims to assist members and their children in meeting educational expenses and achieving their academic and career goals without financial hardship.

Education Loans are granted for approved courses offered by recognized schools, colleges, universities, professional institutions, technical institutions, and vocational training centers.

Objectives

The main objectives of the Education Loan Scheme are:

• To promote higher education among students.
• To provide financial assistance for educational expenses.
• To support professional, technical, and vocational education.
• To encourage skill development and career advancement.
• To ensure that deserving students are not deprived of education due to financial constraints.

Eligibility

Education Loans may be granted to:

• Members of the Society.
• Children or dependents of members.
• Students who have secured admission to recognized educational institutions.
• Students pursuing professional, technical, vocational, undergraduate, postgraduate, or diploma courses.
• Applicants having satisfactory repayment arrangements.

Eligible Courses

Loans may be sanctioned for:

Higher Education

• Undergraduate Degree Courses
• Postgraduate Courses
• Professional Courses
• Diploma Courses
• Technical Education

Professional Courses

• Engineering
• Medical
• Dental
• Pharmacy
• Nursing
• Agriculture
• Veterinary Science
• Management
• Law
• Computer Science

Vocational & Skill Development Courses

• ITI Courses
• Polytechnic Courses
• Skill Development Programs
• Job-oriented Certification Courses

Purpose of Loan

Education Loans may be utilized for:

• Admission Fees
• Tuition Fees
• Examination Fees
• Library Fees
• Laboratory Fees
• Hostel Charges
• Purchase of Books and Study Materials
• Educational Equipment and Instruments
• Uniforms and Academic Requirements
• Computer/Laptop required for studies
• Other educational expenses approved by the Society

Security

The loan may be secured by:

• Two surety members of the Society.
• RTC or other acceptable property documents, wherever required.
• Parent/Guardian undertaking.
• Any additional security prescribed by the Society.

Documents Required

• Loan Application Form
• Admission Letter/Proof of Admission
• Fee Structure issued by the Institution
• Aadhaar Card of Student and Parent/Guardian
• Passport Size Photographs
• Address Proof
• Academic Records/Marks Cards
• Membership Details
• Surety Members’ Details
• RTC or other documents, if required
• Any other documents prescribed by the Society

Repayment

Repayment may commence after completion of the course or as prescribed by the Society. The repayment schedule shall be fixed considering the loan amount and repayment capacity.

Benefits of Education Loan

• Financial support for higher education
• Affordable and accessible credit facility
• Helps students pursue career goals
• Supports professional and technical education
• Reduces financial burden on families
• Encourages educational advancement and skill development

Terms and Condition Apply