Education Loans

Experts explain approval rules, repayment maths, hidden overseas lenders may impose

The Bihar government on Tuesday announced that interest-free loans will be provided to students who passed the class 12 board examinations under the Student Credit Card Scheme to help them pursue higher education. Earlier, education loans of up to Rs 4 lakh were provided at an interest rate of 4 per cent to general male applicants, and 1 per cent to female, differently-abled, and transgender applicants. "Now, the loan will be interest-free for all applicants," Chief Minister Nitish Kumar said in a post on X. The Bihar Student Credit Card Scheme has been in effect since October 2, 2016. Kumar said the provision for repaying a loan of up to Rs 2 lakh in 60 monthly instalments has now been extended to a maximum of 84 monthly instalments. "For loans above Rs 2 lakh, the repayment period has been extended from 84 monthly instalments to a maximum of 120 monthly instalments," he said. Kumar said the objective of his government is to ensure that students can pursue higher education. He

The share of US in overall education loan portfolio has come down to 50% as on March 31, 2025, from a peak of 53% on March 31, 2024, and is expected to go down further over next few years

Union Budget 2025 revises TCS rates on foreign remittances, reducing the tax burden on students funding overseas education through loans or personal savings

Those getting admitted to non-STEM courses and lower-grades institutes must be prepared for stringent checks, higher interest rates, and more collateral requirement

Begin with a 100 per cent equity portfolio, which you can reduce gradually as the goal approaches

Education loans-focused lender Credila Financial Services Ltd, formerly known as HDFC Credila Financial Services Ltd, has filed papers with markets regulator Sebi for an initial public offering (IPO) through a confidential pre-filing route. The confidential pre-filing route allows the company to withhold public disclosure of details under the draft red herring prospectus (DRHP). In a public announcement on Friday, Credila said it has "filed pre-draft red herring prospectus with the Sebi and stock exchanges ... in relation to the proposed initial public offering of its equity shares on the main board". This development follows a significant change in the company's ownership during the financial year ended March 31, 2024. A private equity consortium of EQT and ChrysCapital acquired a 90.01 per cent stake in Credila for Rs 9,060 crore, including a fresh equity infusion of Rs 2,003.61 crore. Of this, Rs 700 crore was infused in June 2023 by the erstwhile HDFC Ltd, while the remaining R

IPO-bound overseas education loan company Credila suspected fraud during the September quarter

As per the NIRF rankings, students admitted to any of the 860 top-ranking quality higher educational institutions (QHEIs) in India will be eligible for the PM-Vidyalaxmi scheme

Cabinet allocates Rs 3,600 crore to the scheme which helps meritorious students from economically disadvantaged backgrounds pursue higher education

Whether it's tuition fees, books, or even a laptop, education loans help cover the costs and make education more affordable

Lenders have reduced exposure to those studying in Canada to 15 per cent in FY24

The one-time ex-gratia payment is a way to motivate the young workforce, said HDFC Bank CEO

In UP, the number of digital transactions jumped nearly threefold to 11.74 billion in FY23 from 4.26 billion in FY22

The donation made by former Professor Ruth Gottesman stands as one of the largest charitable contributions to an educational institution in the United States

The 2024 Study Abroad Trends Report 3.0 find that study-abroad aspirants prefer countries in the European Union, prioritising education quality, affordability, and job opportunities

The National Education Policy, introduced in 2020, states that 6% of the country's GDP should go towards education. Here is a look on how the country has fared in over a decade of education

CARE Ratings indicated that Indian students in Canada contribute nearly CAD 10 billion annually, a figure projected to rise in the long term

Experts told Mint that the difficult job market in Punjab has led to young individuals seeking opportunities abroad

By proactively managing your payments, you can ease the financial impact of the loan and potentially save on overall interest expenses