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Government of India
Ministry of Finance
24-June-2019 18:51 IST
Education Loans

The Reserve Bank of India (RBI) has advised all Scheduled Commercial Banks to adopt Education Loan Scheme, formulated by Indian Banks’ Association (IBA), vide Circular RPCD.PLNFS. BC. NO.83/06.12.05/2000-01 dated April 28,2001.

IBA has formulated and circulated to all Member Banks including State Bank of India (SBI) a ‘Model Education Loan Scheme’ for providing financial support to meritorious students for pursuing higher education in India and abroad. Salient features of the Scheme inter-alia include;

 

    1. Loan upto Rs 10 lakh for study in India and upto Rs 20 lakh for studyabroad.
    2. Collateral free loans upto Rs 7.5 Lakh under the Credit Guarantee Fund Scheme for Education Loans (CGFSEL).
    3. No Margin for loan up to Rs 7.50Lakh.
    4. Repayment period of 15years
    5. One Year Moratorium for repayment after completion of studies in allcases,
    6. Moratorium taking into account spells of unemployment/under-employment, say two or three times during the life cycle of theloan
    7. Moratorium for the incubation period if the student wants to take up a start-up venture aftergraduation.

 

          The IBA scheme provides broad guidelines to the banks to operationalise the Educational Loan Scheme. However, the implementing banks may vary their products as may be required.

 

         As per IBA Model Scheme, approved courses leading to Graduate/Post-Graduate Degree and P G Diploma conducted by Colleges/Universities recognized by the University Grants Commission (UGC), the All India Council for Technical Education (AICTE), the Indian Council of Medical Research (ICMR), etc. are eligible for educationloan.

 

            SBI and other Nationalised Banks are granting education loan for Post-Graduation Diploma Courses conducted by the colleges and approved by AICTE without any discrimination.

 

            As per the information furnished by SBI, the State-Wise Education Loan sanctioned and disbursed by SBI for pursuing Degree and Diploma Courses inside and outside the country during each of the last three years and the current year are at Annexure I &II.

 

This was stated by the Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman in a written reply to a question in Lok Sabha today.

 

****

DSM/RM/PD

 

        

 

        

Annexure – I : State-wise Education loans sanctioned by the SBI for pursuing degree and diploma courses inside and outside the country during each of the last three years and the current year

Amount in Crore

STATENAME

FY-16-17

FY-17-18

FY-18-19

FY-19-20 (upto 14.06.19)

 

Studies in India

Studies Abroad

Studies in India

Studies Abroad

Studies in India

Studies Abroad

Studies in India

Studies Abroad

 

No.

Amt

No.

Amt

No.

Amt

No.

Amt

No.

Amt

No.

Amt

No.

Amt

No.

Amt

ANDAMAN AND

NICOBAR

 

25

 

1.07

 

5

 

1.15

 

27

 

1.25

 

5

 

1.02

 

19

 

1.05

 

3

 

0.71

 

4

 

0.22

 

1

 

0.30

ANDHRA PRADESH

2947

163.97

1536

310.07

3249

185.60

1059

241.55

5591

387.08

1728

429.92

755

79.09

184

53.05

ARUNACHAL

PRADESH

 

27

 

0.89

 

0

 

0.00

 

40

 

1.40

 

2

 

0.21

 

34

 

1.42

 

1

 

0.21

 

9

 

0.44

 

0

 

0.00

ASSAM

907

39.41

101

22.73

1174

56.23

124

25.10

880

47.71

100

20.25

132

8.05

9

1.88

BIHAR

1939

81.94

86

17.56

4642

161.10

124

21.07

1082

56.17

89

21.27

98

8.47

15

4.59

CHANDIGARH

137

10.05

131

27.83

122

8.19

87

18.81

162

12.60

121

26.43

37

4.02

23

7.19

CHATTISGARH

1027

44.60

108

25.23

1038

51.40

89

20.29

929

45.36

105

27.64

184

12.74

14

3.32

DADRA AND NAGAR

HAVELI

 

4

 

0.37

 

1

 

0.20

 

4

 

0.22

 

0

 

0.00

 

13

 

0.87

 

2

 

0.79

 

4

 

0.44

 

1

 

0.18

DAMAN AND DIU

3

0.17

2

0.34

7

0.44

5

1.24

5

0.39

8

1.32

0.00

0.00

DELHI

1452

93.74

422

107.45

1635

111.40

439

113.64

1394

107.14

395

113.79

229

25.08

88

21.94

GOA

209

19.01

29

4.74

284

31.42

37

8.17

407

50.94

29

8.25

72

9.34

4

1.75

GUJRAT

1357

125.89

517

104.57

2052

168.38

910

195.66

2336

243.01

1314

289.48

570

89.68

296

70.00

HARYANA

832

49.29

314

67.17

1027

74.47

324

78.10

1033

74.98

405

113.81

229

26.10

79

18.82

HIMACHAL PRADESH

463

20.99

71

10.59

448

23.09

74

12.35

389

20.98

92

17.96

68

5.39

13

2.15

JAMMU AND KASHMIR

140

7.20

53

10.11

175

12.41

46

8.65

126

8.70

61

11.14

17

1.29

11

1.32

JHARKHAND

2035

142.21

73

16.35

1816

132.22

63

15.93

1687

137.03

69

15.91

284

36.33

15

3.29

KARNATAKA

3912

165.33

1297

355.27

3439

170.62

990

305.71

3896

226.26

1103

363.95

616

59.16

237

89.36

KERALA

6989

281.42

861

161.10

4999

219.79

842

183.39

6608

309.70

1465

362.39

1443

79.75

355

91.04

LAKSHADWEEP

0.00

0.00

1

0.07

0

0.00

0.00

0.00

0.00

0.00

MADHYA PRADESH

2783

135.21

379

98.10

2717

145.07

349

85.45

2476

168.27

341

92.88

513

52.57

65

18.62

MAHARASHTRA

5567

243.07

1474

364.25

5000

243.19

1303

379.14

6168

340.45

1437

465.40

928

83.19

194

61.67

MANIPUR

31

1.49

8

0.77

35

1.36

9

1.03

48

1.87

5

0.83

2

0.11

1

0.10

MEGHALAYA

359

14.73

10

1.64

353

20.34

16

3.26

267

16.48

9

1.37

15

0.88

0

0.00

MIZORAM

11

0.34

0

0.00

12

0.36

0

0.00

6

0.21

3

0.56

0

0.00

1

0.14

NAGALAND

29

1.01

0

0.00

31

1.18

2

0.28

17

0.68

5

0.97

3

0.12

0

0.00

ODISHA

1304

85.25

85

18.64

1241

71.10

79

19.94

1739

123.72

98

25.38

505

60.87

13

5.57

PONDICHERRY

82

3.87

32

6.44

117

5.00

13

2.81

248

10.62

31

8.18

42

1.92

9

1.68

PUNJAB

866

50.17

919

119.53

653

42.54

502

78.46

777

81.77

628

108.77

182

26.23

113

19.87

RAJASTHAN

2352

146.32

212

44.22

1762

123.10

233

62.94

1806

145.04

310

81.59

247

22.65

49

14.70

SIKKIM

11

0.76

3

0.60

15

0.61

2

0.40

12

0.45

1

0.07

1

0.04

0

0.00

TAMILNADU

3613

126.17

880

209.77

3280

125.22

842

221.06

5414

214.43

991

280.72

1282

78.26

151

45.57

TELANGANA

1880

137.74

1816

331.55

2007

174.29

1030

221.14

2631

273.20

1487

383.62

394

41.95

184

54.30

TRIPURA

187

7.44

7

1.59

146

6.45

5

1.07

136

5.19

7

1.78

29

0.96

0

0.00

UTTAR PRADESH

2271

145.19

247

56.28

2292

164.72

269

68.48

2397

192.81

270

75.50

346

33.79

45

12.07

UTTARAKHAND

783

48.67

84

17.28

858

60.14

87

18.84

803

61.54

101

27.47

92

7.83

15

4.31

WEST BENGAL

2593

147.30

178

33.01

2662

161.68

193

41.11

2573

176.41

211

50.54

491

45.21

34

7.73

Grand Total

49127

2542.28

11941

2546.11

49360

2756.04

10154

2456.29

54109

3544.54

13025

3430.85

9823

902.18

2219

616.51

Source: SBI

 

 

 

 

 

Annexure –II : State-wise Education loans disbursed by the SBI for pursuing degree and diploma courses inside and outside the country during each of the last three years and the current year

Amount in crore

STATENAME

FY-16-17

FY-17-18

FY-18-19

FY-19-20 (upto 14.06.19)

 

Studies in India

Studies Abroad

Studies in India

Studies Abroad

Studies in India

Studies Abroad

Studies in India

Studies Abroad

 

No.

Amt

No.

Amt

No.

Amt

No.

Amt

No.

Amt

No.

Amt

No.

Amt

No.

Amt

ANDAMAN AND NICOBAR

 

23

 

0.90

 

5

 

1.07

 

26

 

1.04

 

5

 

0.94

 

19

 

0.45

 

3

 

0.45

 

3

 

0.07

 

1

 

0.03

ANDHRA PRADESH

2861

127.32

1425

213.23

3186

122.89

1026

153.22

5479

161.06

1678

185.58

642

21.88

87

6.88

ARUNACHAL PRADESH

26

0.74

0

0.00

39

1.11

2

0.21

34

0.70

1

0.15

9

0.23

0

0.00

ASSAM

890

33.24

97

16.29

1152

38.56

121

16.99

860

20.70

96

9.99

111

2.33

7

0.60

BIHAR

1905

69.57

84

13.53

4538

109.49

116

13.78

1040

27.39

83

10.00

80

2.68

10

0.59

CHANDIGARH

130

7.57

121

17.81

117

6.05

84

11.14

158

6.21

109

10.91

34

1.43

18

1.37

CHATTISGARH

1007

35.90

102

16.91

1022

36.12

83

14.33

912

22.66

99

12.81

170

4.21

8

0.77

DADRA AND NAGAR HAVELI

 

4

 

0.22

 

1

 

0.20

 

4

 

0.18

 

0

 

0.00

 

13

 

0.47

 

2

 

0.25

 

4

 

0.15

 

1

 

0.04

DAMAN AND DIU

3

0.14

2

0.23

7

0.34

5

1.10

5

0.09

8

0.54

0.00

0.00

DELHI

1398

75.47

402

69.93

1606

77.24

414

69.58

1366

49.24

388

48.36

200

6.39

72

3.94

GOA

200

12.64

24

3.48

275

17.04

35

6.02

366

15.28

27

4.21

67

2.85

3

0.29

GUJRAT

1308

96.52

488

66.83

1984

113.41

856

114.26

2278

112.18

1223

117.99

500

17.32

222

18.80

HARYANA

801

39.55

294

40.80

1002

53.13

315

41.85

1002

36.82

384

40.82

193

7.02

55

3.49

HIMACHAL PRADESH

453

15.34

67

7.56

440

16.32

73

9.45

383

9.07

91

8.27

55

1.34

10

0.68

JAMMU AND KASHMIR

135

6.03

49

6.60

170

9.63

43

6.41

115

4.28

57

5.50

17

0.64

10

0.68

JHARKHAND

2000

118.17

73

12.53

1777

96.05

60

10.46

1623

61.61

53

7.78

200

7.64

6

0.45

KARNATAKA

3774

127.54

1240

227.74

3369

118.14

960

188.16

3801

99.14

1057

148.74

473

14.58

124

9.17

KERALA

6767

207.73

820

109.66

4913

143.64

801

112.37

6373

133.82

1383

150.79

1146

20.00

267

21.15

LAKSHADWEEP

0.00

0.00

1

0.04

0

0.00

0.00

0.00

0.00

0.00

MADHYA PRADESH

2713

108.96

365

64.03

2673

102.01

338

56.97

2432

82.96

334

42.45

409

18.12

42

3.64

MAHARASHTRA

5446

202.36

1403

254.54

4919

178.59

1257

244.83

6057

168.37

1385

199.10

816

29.86

128

10.71

MANIPUR

30

1.31

7

0.67

33

1.15

9

0.84

46

1.01

5

0.57

2

0.04

1

0.06

MEGHALAYA

359

12.25

10

1.30

343

13.59

15

2.84

261

8.12

9

0.92

11

0.27

0

0.00

MIZORAM

9

0.30

0

0.00

11

0.23

0

0.00

6

0.10

3

0.30

0

0.00

1

0.06

NAGALAND

27

0.88

0

0.00

31

0.81

2

0.26

16

0.36

5

0.84

3

0.05

0

0.00

ODISHA

1266

72.59

80

12.79

1215

53.02

77

15.09

1699

67.46

95

13.57

441

26.06

6

0.62

PONDICHERRY

80

3.10

31

4.61

113

3.37

11

1.51

240

4.33

28

3.25

34

0.52

6

0.44

PUNJAB

805

37.57

793

67.02

632

28.98

480

43.81

742

38.27

602

42.63

158

9.83

96

6.32

RAJASTHAN

2212

107.44

197

30.12

1716

77.88

223

36.26

1744

55.77

295

33.71

195

6.26

33

2.12

SIKKIM

11

0.55

3

0.47

15

0.44

2

0.09

12

0.16

1

0.07

1

0.02

0

0.00

TAMILNADU

3537

102.12

846

147.68

3216

86.29

826

148.64

5349

97.93

977

137.66

1164

24.63

131

11.74

TELANGANA

1778

108.93

1646

212.64

1927

120.63

949

131.69

2518

122.62

1396

150.18

322

12.66

121

8.88

TRIPURA

183

5.69

7

1.57

144

4.42

5

0.71

129

2.31

7

0.97

28

0.30

0

0.00

UTTAR PRADESH

2203

114.43

242

40.68

2245

111.40

261

42.14

2345

86.39

257

37.17

304

10.95

40

3.13

UTTARAKHAND

767

39.31

81

11.18

838

39.12

82

12.19

779

26.29

97

11.26

82

2.47

11

0.79

WEST BENGAL

2505

116.03

164

24.03

2581

113.26

183

27.99

2487

85.44

201

27.58

409

13.39

27

1.78

Grand Total

47616

2008.42

11169

1697.71

48280

1895.64

9719

1536.13

52689

1609.08

12439

1465.36

8283

266.17

1544

119.23

Disbursement details are inclusive of accounts opened during previous years and partial amount disbursed during current (reporting) year.

Source: SBI