NSFDC Education Loan for SC/ST Students to Study Abroad: NSFDC was established by the government of India in 1985 as a nonprofit company. Access to education is important to create a better future, but the expenses associated with higher education will be an obstacle for many people.
To reduce that burden for the merit students, NSFDC is providing an education loan for SC/St students. Feeling excited to know, right? Look into the article completely to know complete information about this NSFDC education loan for SC/ST students to study abroad.
Highlights of NSFDC Education Loan Scheme For SC/ST Students
The NSFDC loan scheme is available for the students of SC and ST to study aboard who are eligible for admission. Here are some of the highlights provided about the complete article. Checkout.
| Particulars | Details |
| Name of the Scheme | Education loan Scheme |
| Website | nsfdc.nic.in. |
| Provider | NSFDC ( National Schedule CAste Finance and Development Corporation) |
| Education Loan Amount | Upto 30 Lakhs |
| Rate of Interest | 4% per annum |
| Eligibility | Indian citizen, and SC/ST |
| Moratorium period of Education Loan | Course duration plus 6 months |
| Repayment Time | Upto 15 years |
| Application Mode | Online and Offline |
| Period to apply | Throughout the Year |
| Collateral | No collateral required |
| Eligible Courses | Many checkout below. |
Eligibility Criteria for NSFDC Education Loan for SC/ST Students to Study Abroad
When it comes to the eligibility criteria of NSFDC education loan for SC/ST students to study abroad should strictly meet the requirements below.
- Applicants who are going to apply for an education loan to study abroad should be citizens of India.
- Family Income should be upto Rs. 3 lakh per annum.
- Students must have cleared their last examination with a good percentage like 10th, 12th, graduate, post graduate.
- Students who belong to scheduled caste are only eligible for this scheme.
- Applicant should have secure admission from the university abroad on a merit basis.
- Students should have a plan to pursue any regular/professional courses approved by the government of India.
Documents Required For NSFDC Education Loan For SC/ST Students
Here is the set of documents that are provided for NSFDC education loan for SC/ST students who are thinking of studying abroad.
- Basic KYC documents like Aadhar card, PAN card, passbook, Xerox, and many others.
- Address Proof Documents like voter, ration, and others.
- Passport Size Photographs
- Birth certificate and caste certificate
- Bank Passbook first page xerox
- Letter of acceptance by the university
- Income Certificate
- Copy of passport and VISA
- Passing certificates of all your study
- Fee structure of the complete course in which you are going to enroll.
- Duty filled signed application form.
How To Apply NSFDC Education Loan Scheme
Students who are looking to apply for the scheme have the chance to apply online as well as offline. For the offline process, you need to go to the bank fill out the application form, and then submit the required documents. Now here we are going to look at the step-by-step process to apply online.
Step 1: Visit the official website of NSFDC, i.e., nsfdc.nic.in.
Step 2: Then as you will see the home page, click on the “Schemes” tab.
Step 3: When you place the cursor on it, you can list things in that click on the “Education loan scheme” tab.
Step 4: Now, click on the “Forms” that you can see on the quick links that you have on the right side of the page.
Step 5: You can see the page with two options, then click on” education loan”.
Step 6: Download the application form that is in the form of a PDF and fill it out.
Step 7: Before submitting the form attach the documents that are required and then submit to the State channelizing agency.
Also, check for Non-collateral education loan for abroad to get an education loan without any security.
Courses Covered Under NSFDC Education Loan
Students of SC/ST who are thinking of studying abroad, can have a look at the courses that are covered under the NSFDC education loan.
- Engineering (Diploma/ B.Tech /B.E, M.Tech/M.E.)
- Medical (MBBS/MD/MS)
- Architecture (B.Arch/M.Arch)
- Biotechnology/Microbiology/Clinical Technology (Diploma/Degree)
- Dental (BDS/MDS)
- Actuarial Sciences (Graduation/ Post Graduation/FIA)
- Laboratory Technician (Diploma)
- Midwifery (Diploma)
- Physiotherapy (B.Sc./M.Sc.)
- Pharmacy (B.Pharma/M.Pharma)
- Management (BBA/MBA)
- Nursing (B.Sc./M.Sc.)
- Information Technology (BCA/MCA)
- Pathology (B.Sc/M.Sc.)
- Education (CT/NTT/B.Ed/M.Ed)
- Geriatric Care (Diploma/Post Graduate Diploma)
- Hotel Management & Catering Technology (Diploma /Graduation/Post Graduation)
- Law (LLB/LLM)
- Education (CT/NTT/B.Ed/M.Ed)
- Chartered Accountancy (CA)
- Higher education like Doctoral Studies leading to M.Phil/PhD from recognized institutions.
- Physical Education (C.PEd./B.PEd/ M.PEd)
- Journalism & Mass Communication (Graduation/Post Graduation)
- Cost Accountancy (ICWA)
- Company Secretaryship (CS)
- Associate Member of the Institute of Engineers (AMIE) and Institute of Electronics & Telecommunication.
Expenses That Are Covered Under NSFDC Education Loan For SC/ST Students to Study Abroad
Here we are going to know what expenses are covered under NSFDC education loan for SC/ST students to study abroad.
- Admission fee
- Books, equipment, and stationery expenses
- Examination fee
- Tuition fee
- Insurance premium for policy in case of death or permanent disability
- Travel expenses for studying abroad
- Caution money
- Hostel and mess expenses
- Clothing Allowance of any type
- Other charges related to the submission of the thesis
- Provision of 1% of the total course cost is allocated to cover unforeseen expenses
- Thesis printing charges
- Development fund
NSFDC Education Loan For SC/ST Scheme Interest Rate
If you are looking for the interest rates and maximum loan amount for NSFDC education loan for the SC/ST scheme, look at the below table. We have provided loan limits and interest rates for both India and abroad.
| Loan Limit | Interest Rate |
| For India – Upto Rs. 20 lakh or upto 90% of the fee | 4% Per Annum (0.5% less for females) |
| For Abroad – Upto Rs. 30 lakh or upto 90% of the fee | 4% Per Annum (0.5% less for females) |
What is the Repayment Period of NSFDC Education Loan
When it comes to loan repayment period, it varies based on the loan amount that was taken by the students. If the students have applied for education loan amounts upto Rs. 7.5 lakhs then the repayment period will be 10 years.
But if the students applied for education loans above Rs.7.5 lakhs the the repayment period will be 15 years.
FAQs on NSFDC Education Loan Scheme
- Who is eligible for an NSFDC education loan?
Students who are citizens of India under SC/ST, with good marks in 10 +2 and other courses. To know more about eligibility, check out the article at learncbse.com.
- Is there any scholarship for SC students to study abroad?
Yes, there are many scholarships for SC and ST students to study abroad.
- What are the income criteria for SC/ST students to get an NSFDC loan?
To get an NSFDC loan the student of SC/ST should have an income of Rs. 3 lakhs per annum.
- Does NSFDC give education loans for certificate and diploma courses?
No, NSFDC provides education loans only for regular full-time professional and technical courses.
- What is the full form of NSFDC?
NSFDC means National Scheduled Castes Finance and Development Corporation.
Key Outcomes
Hope that the knowledge we have shared on NSFDC education loan for SC/ST students to study abroad is helpful to you. If you are a student who wants to study abroad and under SC/ST, apply after checking.
For more interesting articles like Student Loans for Studying Abroad, you can check out our student education loan page on learncbse.com website.
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