It covers the basic course fee and other related expenses such as (college) accommodation, exam and other miscellaneous charges.
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A student is the main borrower. A parent, spouse or sibling can be the co-applicant.
Whom is the loan offered to?
It is offered to students who want to study in India or pursue higher education overseas. The maximum amount offered for studies in India and overseas are different and varies from one bank to another.
It can be taken for a full-time, part-time or vocational course and graduation or post graduation in the fields of engineering, management, medical, hotel management, architecture, etc.