A lot of funding is granted every year to eligible students for overseas education based on merit and need. Funding can be in the form of education loan for higher studies abroad or scholarships. Such a scholarship called ‘Scheme Of National Overseas Scholarship For ST Students’ has been launched for imparting scholarships to economically backward students belonging to Scheduled Caste and Scheduled Tribe communities. As per the statistics, applications registered under the scheme in the academic year 2018-2019 were one hundred and twenty-four.
It is granted to students pursuing master and research programme in the field of
- Engineering and Management
- Pure Sciences & Applied Sciences
- Agricultural Sciences and Medicine
- Commerce, Accounting & Finance
- Humanities & Social Science
Annually, scholarship application is invited for a hundred seats which only the shortlisted, eligible student make up to. Out of these, 30% is reserved for women candidates to propel them toward higher education.
Eligibility Criteria
Students must have secured admission in an accredited university or institution only.
The academic score secured at the bachelor and master level must be 55% along with work experience in the related field.
The candidate should not be older than 35 years of age.
A candidate with at least 2 years of work experience in the related field is preferred for the scholarship.
The family income should not exceed 6 lakhs per annum.
Children to the same parent may apply for the same scholarship scheme however, only two are likely to receive the award.
In case of ongoing employment service, the candidate must issue a ‘No Objection Certificate’ from the employer.
Apart from this, other states and central government schemes are also offered like ‘Maharashtra State Government Scholarship’ for Open and OBC category, ‘Dr. Ambedkar Scheme of Interest Subsidy on Education Loan for Overseas Studies’, Padho Pradesh etc.
Education Loan
A student can avail of scholarship as well as education loan to obtain 100% funding for higher studies. It is subjected to various factors like the academic performance and financial need. Education loan is offered by Nationalised banks, private banks and NBFCs under the secured and unsecured category. Students can apply and submitan online loan application for abroad studies at the concerned bank website. You may seek the help of authorized loan advisors to learn more about this.
Before you apply for any kind of education loan, do enquire about the eligibility criteria, overseas education loan requirements, rate of interest, moratorium period and the marginal cost.
A few bank offer concessions on the rate of interest to a girl child and the students admitting to premier education institutions.
An education loan covers your tuition fee as specified for the course and university, living expenses, insurance, book charges, laptop cost, airfare and visa expenses, as well.
You’ll find bits of information about education loan and scholarships in our published articles! You may also visit education abroad consultants for help.
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