Educational Loans Easing Higher Education in India

With the number of banks rising in India, seeking higher education has become very easy now with the help of educational loans provided by them.

Educational Loans-Boon to Higher Education in India:

Higher education in earlier days of Indian history remained a dream of many students. It was not that India lacked in masterminds and brilliant folks, but their education often found an end due to financial constraints. People could merely afford to pass matriculation and could not even think of higher education due to the heavy expenses involved. Only the people from elite class could benefit the higher education abroad or in the renowned universities in India.

However, the scenario has taken a complete turn now with the flood of banking sector in the India. Numerous banks have come up with variety of educational loans in India providing an opportunity for common folks to take up higher education.With these educational loans, finance is not a problem in India now to those who are determined to prioritize their education. Not only public owned banks are providing educational loans but the private sector banks have also jumped into this move of providing loans to the students who find it difficult to pay the expense of higher education on their own.
Flexible conditions and nominal interests are imposed on educational loans to make their repayment easy.

Various Educational Loan Schemes by Various Banks in India:

1. Vidya Vardhini Sceme: Educational loan scheme by Bank of India.
2. Cent Vidyarthi Scheme: Educational loan scheme by Central Bank of India.
3. Dena Vidya Lakshmi Scheme: Educational loan scheme by Dena Bank.
4. Vidya Lakshyapurti Scheme: Educational loan scheme by Punjab National Bank.

Other Banks in India Offering Educational Loans are: Allahabad Bank, Bank of Baroda, India Bank, Development Credit Bank, Canara Bank, Bank of Rajasthan; Bank of Maharashtra, Karnataka Bank, State Bank of Indore, Federal Bank, HDFC Bank, United Bank of India, Vijaya Bank, Vysya Bank, United Western bank, UCO Bank,Syndicate Bank, State Bank of Hyderabad,Indian Overseas Bank, Mysore Bank, Oriental Bank of Insurance.

Benefits of Educational Loans in India:

1. Educational loans offered by various banks in India are making higher education in India and abroad easy for the students.
2. Educational loans helps students to take up general, professional, technical and vocational courses.
3. Educational loans not only includes the fee structure of the higher education but also includes the hostel fees, maintenance costs, books, equipments, laboratory fees, other fees etc. Thus relaxing needy students from all kinds of heavy expenses.
4. People in India are becoming capable for employment opportunities by seeking higher education on educational loans which was otherwise beyond the hands of lower class due to financial problems.
5. Flexible conditions on educational loans makes their repayment easy in future.
6. Educational loans have filled the gap between higher and lower class in terms of seeking higher education.
7. Education loans have been beneficial in increasing the literacy rate of the country in terms of higher education.


  • Do not include your name, "with regards" etc in the comment. Write detailed comment, relevant to the topic.
  • No HTML formatting and links to other web sites are allowed.
  • This is a strictly moderated site. Absolutely no spam allowed.
  • Name: