When you decide to pursue your education abroad, you may have to worry about more than just your tuition fees. Education loan for abroad studies help students, irrespective of their financial status, realize their dream of studying in one of the best universities in the world. The cost of living in a foreign country and buying your academic textbooks and equipment and all other education related costs can go high. Furthermore, before securing admission to courses in universities abroad, you must prove that you have the adequate funds to pay for your academic life abroad. 

Special Vidya Loan offered by Federal Bank aims at providing financial support to meritorious students for pursuing higher education in India and abroad. The main emphasis is that a meritorious student, though poor, is provided with an opportunity to pursue education with the financial support from the banking system with affordable terms and conditions.

Eligibility Criteria
•    The student should be an Indian National.
•    Should have secured admission to a higher education course in recognized institutions in abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent).

However, entrance test or selection purely based on marks obtained in qualifying examination may not be the criterion for admission to some of the post graduate courses or research programmes. In such cases, banks will have to adopt appropriate criteria based on employability and reputation of the institution concerned.

Courses Eligible for Education loan for Studies abroad
Following are indicative list of eligible courses for which education loans are granted for studies abroad.
•    Graduation: For job oriented professional/ technical courses offered by reputed universities.
•    Post graduation: MCA, MBA, MS, etc.
•    Courses conducted by CIMA- London, CPA in USA etc.
•    Degree/diploma courses like aeronautical, pilot training, shipping etc provided these are recognized by competent regulatory bodies in India/abroad for the purpose of employment in India/abroad.

Quantum of Finance 
Studies Abroad - Maximum up to ₹ 20 lakhs.

To know more about education loan schemes offered by Federal Bank, please click here.