Education Loans

As per the NIRF rankings, students admitted to any of the 860 top-ranking quality higher educational institutions (QHEIs) in India will be eligible for the PM-Vidyalaxmi scheme

Cabinet allocates Rs 3,600 crore to the scheme which helps meritorious students from economically disadvantaged backgrounds pursue higher education

Whether it's tuition fees, books, or even a laptop, education loans help cover the costs and make education more affordable

Lenders have reduced exposure to those studying in Canada to 15 per cent in FY24

The one-time ex-gratia payment is a way to motivate the young workforce, said HDFC Bank CEO

In UP, the number of digital transactions jumped nearly threefold to 11.74 billion in FY23 from 4.26 billion in FY22

The donation made by former Professor Ruth Gottesman stands as one of the largest charitable contributions to an educational institution in the United States

The 2024 Study Abroad Trends Report 3.0 find that study-abroad aspirants prefer countries in the European Union, prioritising education quality, affordability, and job opportunities

The National Education Policy, introduced in 2020, states that 6% of the country's GDP should go towards education. Here is a look on how the country has fared in over a decade of education

CARE Ratings indicated that Indian students in Canada contribute nearly CAD 10 billion annually, a figure projected to rise in the long term

Experts told Mint that the difficult job market in Punjab has led to young individuals seeking opportunities abroad

By proactively managing your payments, you can ease the financial impact of the loan and potentially save on overall interest expenses

Education finance is a complex and dynamic sector. There are too many variables - the course, the calibre of students, the universities, and the job prospects once the course is over

Banks are in a bind as Kerala High Court directs them to exercise more compassion with students, as guarantors frequently default on education loan repayments

The recent surge in gold prices has made the yellow metal shinier as it fetches more funds for borrowers. Significantly, gold prices shot to Rs 60,000 per 10 grams from about Rs 50,000 a year ago

Some recent moderation in credit growth; delinquencies reducing except in credit cards, study loans

The education loans by NBFCs would grow moderately but still be healthy as compared with the previous fiscal year, CRISIL said

Here is how the education loan rates offered by various banks stack up

High defaults of about 8 per cent in the education loan portfolio have made banks cautious and go slow on the sanction of such credit. Non-performing assets (NPAs) in the education loan category including public sector banks' (PSBs) were 7.82 per cent at the end of June quarter of the current financial year. Outstanding education loans were about Rs 80,000 crore at June-end. Cautious approach is adopted at the end of branches while sanctioning education loans due to high NPAs, a senior public sector bank official said. As a result some genuine cases are overlooked and there are delays, the official said. Recently, the finance ministry had called a meeting of PSBs to take stock of the education loan portfolio and cut down on delay. The ministry exhorted banks to spread awareness about the Central Sector Interest Subsidy Scheme among field formations. The sharp increase in non-performing assets (NPA) in education loans extended by commercial banks in India in recent years is a matte

Of the Rs 35 trillion of retaill loans deployed by banks, just Rs 84,375 crore or 2.4 per cent went towards education loans