The Education Loan Scheme offers financial support to individuals aspiring to pursue professional courses such as Medical, Engineering, Management, Nursing, Law, etc. The loan amount can be a maximum of Rs.20 lakh for studies within the country and Rs.30 lakh for studies abroad.
Repayment of the loan is structured with an interest rate of 3% per annum, and it begins in quarterly instalments six months after the completion of the course or upon employment, whichever comes first. It's important to note that the availability of funds determines the provision of the loan, making it a valuable resource for students aiming to achieve excellence in their chosen fields of study.