Top Education Loan Schemes for Girl Students

Education plays a central role in empowering people and is an essential tool that helps society progress forward. Ensuring that women of society who constitute 50% of the population get access to education is one of the ways through which society’s goals can be achieved. 

In India, several education loans and schemes have therefore been developed to enhance and empower girl children by ensuring that they are not financially handicapped in their pursuit of getting the education they deserve. 

Most public and private banks have come up with many education loan schemes that offer female students everything they need to pursue their higher education in India or abroad. 

The main goal of these government and bank schemes is to eliminate any financial hindrance to girls learning and achieving their academic goals and dreams. Keep reading to learn more about these schemes in this article.

These banks offer specific loans that meet the needs of female students whether they are pursuing their education in India or a foreign country. This section gives a summary of all the education loan schemes by Indian banks, features, and facilities offered to female students.

* You can get a further education loan concession of 2% on going ahead with WeMakeScholars 

SBI Student Loan Scheme 

1. The SBI Student Loan Scheme offers up to 1.5 Crores or up to the value of the collateral offered 
2. It is offered to students pursuing their higher education in India or Abroad 
3. The education loan under this scheme is repayable over 15 years from the date of completion of the course or after one year of commencement of the earning of the first job, with the provision of the moratorium. 
4. In the case of loans less than ₹20 lakhs, no processing fee is charged.
5. For loans of more than ₹20 lakhs, a nominal fee of ₹10,000 + taxes is charged. 
6. Loans up to ₹7. 5 lakhs need a co-borrower/ co-applicant who must be a parent or a guardian, and no further collateral is needed.
7. For loans above ₹7. 5 lakhs, the student requires a co-applicant and collateral against the loan amount. 
8. For loans up to ₹ 4 lakhs, the loan margin is nil, for studies in India it is 5% for the amount above ₹ 4 lakhs, and 15%  for studies abroad.
9. The Repayment starts one year after the completion of the course and should be repaid within the next 15 years. 
10. Interest is added to the principal amount during the moratorium and course period, while the actual and full payment is planned and spread in a monthly installment known as Equated Monthly Installments (EMIs). 
11. In case the interest is paid in advance before the repayment begins, the EMI is calculated only on the principal sum.

Shaurya Education Loan

1. The Shaurya Education Loan Scheme provides financial support to children of Defense and Indian Coast Guard persons for their higher studies in India as well as foreign countries. 
2. This scheme offers a moratorium period of 6 months 
3. The Repayment is done through an EMI tenure of 15 years and income receives tax benefits under Section 80(E). 
4. The scheme allows the taking-over of existing loans from other banks or financial institutions and loans can be taken at a branch near the applicant’s residence, place of posting, or the location of the security property. 
5. The Loan Limits are ₹ 40 lakhs for studies in India and 1.5 Crores for Abroad. 
6. For loans up to ₹4 lakhs, no margin is required, for all loans above ₹4 lakhs a 5% margin is needed. 
7. Processing fees are zero for the loan amount of up to ₹20 lakhs 
8. ₹10,000 + taxes for the loan amount above ₹20 lakhs. 
9. If the interest is fully serviced beforehand, the EMI is calculated on the principal; and during the moratorium period, interest is added to the principal. 

Baroda Gyan

1. The Baroda Gyan Loan is a student loan offered by the Bank of Baroda to the students of India pursuing higher education in recognized universities/institutions for postgraduate and professional courses. 
2. Under this scheme, BoB charges no extra cost for processing or documentation for up to 7.5 Lakhs. No collateral is required either.
3. For loans exceeding ₹7.5 Lakhs, tangible collateral has to be provided. 
4. It ranges from ₹125 lakhs for medical and aviation courses and ₹25 lakhs for other courses as per the future income prospects. 
5. This loan scheme covers tuition fees, books, equipment, and insurance premiums are some of the costs that the loan caters to. 
6. Repayment starts after a grace period and can go on for 10-15 years or can be repaid in a single lump sum.
7. For amounts above ₹7.50 lakhs, a processing fee of ₹ 10,000 + GST to 1% of the loan amount can be charged.

Star Vidya Loan

1. The Star Vidya Loan offers financial support based on the type of institution for students trying to pursue their higher education in India. 
2. The scholarship amount ranges up to ₹40 lakhs for institutes in List A, ₹25 lakhs for List B, and ₹15 lakhs for List C. 
3. This scholarship is available for Indian nationals who were admitted through entrance tests/selections into certain premier educational institutions in India. 
4. It applies to all full-time degree and diploma programs, including full-time executive management programs such as PGPX at IIMs but not to certificate and part-time programs. 
5. No margin is required and no collateral security is necessary. 
6. The parents or guardians must be guarantors/ Co-applicants and have to be included as co-signers and future earnings are used as collateral. 

Star Education Loan - India

1. The Star Vidya Education Loan for Indian education loans for higher education are granted up to ₹150 lakhs in case of medical and non-medical courses
2. No collateral is needed in case of the loan amount up to ₹7. 50 lakhs.
3. The loans are available for full-time degree and post-graduation courses in any recognized University/Institution in India if the student is an Indian national/ PIO/OCI and has been admitted through a competitive entrance examination or based on merit. 
4. For Loans above ₹7. 50 lakh collateral is required. 
5. Take-over of existing loans from other banks is also allowed. 

PNB Pratibha 

1. The PNB Pratibha loan scheme applies to the residents of India who are admitted to regular, full-time degree, diploma, or postgraduate programs, part-time postgraduate programs in management in IIMs, ISB, XLRI, and e-Post Graduate programs in distance learning. 
2. They are demand-driven and dispensed in light of the student’s or parent’s capacity to repay together with co-guarantors who are parents or guardians. 
3. They offer both secured and unsecured education loans.
4. The loan amount offered for unsecured education loans has a ceiling limit.
5. The loan amount of the secured education loan depends on the collateral being offered. 
6. The tenure for the repayment is usually up to 15 years. 

PNB Saraswati 

1. The PNB Saraswati loan scheme is offered to students who want to pursue their higher education in India.
2. This education loan scheme is for the students who get admitted to the approved courses. These include graduate/postgraduate degrees, postgraduate diplomas from recognized
3. Universities/Institutions, and professional courses like ICWA, CA, and CFA, etc. Business Schools/B-Schools, Management Institutes, and B Schools like IIMs, IITs, IISc, XLRI, NIFT, NID, etc. 
4. Other regular full-time degree/diploma courses in aeronautics, pilot training, nursing, and those courses that are recognized by other statutory bodies are allowed. 
5. This scheme also incorporates the courses run by reputed foreign universities in India and the ones that fall under different government subsidy schemes. 
6. Candidates should be Indian citizens and studying in the final year of HSC (10+2 or equivalent) and get admission through entrance examination or merit. 
7. Financial support includes reimbursement of fees paid up to the last six months, Rs. 4 lakhs with no margin, and More than Rs. 4 lakhs with a 5% margin. 
8. The amount for scholarship/assistantship is negotiable can be included in the margin and will be available on a year-to-year pro-rata basis. 
9. In respect of loans up to Rs. 7.50 lakhs the parents or guardians are to be joint borrowers and there is no need for any tangible security. 
10. According to the type of the loan, one can take a loan up to Rs. 7.5 Lakhs and for loans over Rs. 7.50 lakhs, collateral security of acceptable value is needed. The repayment period can go up to 15 years.
11. The repayment holiday/moratorium is the course period + one year. 

SBI Global Ed-Vantage Scheme

1. This loan is named as SBI Global Ed-Vantage loan and it is tailored for students planning to take up full-time regular courses in foreign universities. 
2. The loan amount offered ranges from ₹20 lakhs to ₹1. 5 crore. 
3. The loan repayment will be done through Equated Monthly Installments (EMIs) over up to 15 years and can be given even before the I-20 or visa is available. 
4. You can also get tax benefits under section 80(E). 
5. An application processing fee of ₹ 10,000/- is charged per application. 
6. Scholarships or assistantships must be included in the margin which means that it has to be provided on a pro-rata basis as disbursement takes place. 

Baroda Scholar

1. This education loan is provided for professional or technical courses in foreign universities and provides a lot of financial aid with flexibility in tenure depending on the status of the institution. 
2. For the premier institutions, the amount of the loan may go up to ₹150 lakhs, and for others, it may up to ₹60 lakhs. 
3. The margin requirements vary: for loan amounts up to ₹4 lakhs no margin is required; for others, it is 15% for premier institutions and 10% for non-premier institutions. 
4. The loan covers tuition fees, hostel fees, books, equipment, and other necessary expenditures except external coaching charges. 
5. A repayment holiday of the course duration + 1 year is offered and loans are repayable over 10-15 years. 
6. The processing charges are exempted up to the limit of ₹7.5 lakhs, in case the amount crosses this limit, the fee can go up to ₹ 10,000 + GST. 
7. Collateral depends on the amount applied for and it is required that any large amount be backed by a physical security and income assignment. 
8. Loan insurance has to be taken when getting a loan of ₹ 7.5 lakhs and above.

Star Education Loan - Abroad 

1. Education loans are offered to Indian students for full-time courses, post-graduate courses, medical, and non-medical at foreign universities. 
2. A Loan amount of up to Rs. 150 lakhs can be provided under this education loan scheme. 
3. The criteria for the students are that they should be Indian nationals, they should have cleared the HSC (10+2 or equivalent) examination and they have been admitted to a foreign university. 
4. Loan margins are fixed at 0% for loans amounting to Rs. 4 lakhs and below. While it is 15 % for the loan amount above 4.5 Lakhs, and 10% for loans above Rs. 7.5 lakhs 

Union Education Loan

1. The Union Education Loan is provided to the eligible and meritorious students of India for higher, professional, and technical courses in any recognized University in India and in foreign countries. 
2. The student has to be an Indian citizen and get the proper admission procedure for the course he or she wants to enroll in. 
3. The applicants may be of any age; there are no restrictions in this regard. 
4. There is no ceiling on the loan amount; however, for NRI students, the loan limit is Rs. 20 lakhs and for premium institutes, the limit is Rs. 30 lakhs. 
5. The loan margin ranges from nil for loans up to Rs. 4 lakhs. It is 5% for loans above Rs. 4 lakhs for studies in India and 15% for studies in foreign countries. 
6. The costs for example include tuition fees, hostel, fees for examinations, insurance costs, books/equipment, and transport costs. 
7. The repayment period is up to 15 years and there are interest rebates for early payment of the loan. 
8. For loan amounts up to Rs. 4 lakhs, there is no security but for loans above Rs. 4 lakhs, a third-party guarantee or collateral is necessary.

SIB Global Education Scheme 

1. Education loans are provided to such students from India to carry out higher, professional, and technical courses in recognized institutions within India or abroad. 
2. The parents must be included as co-applicants or in the case of married students, the spouse or parents-in-law. 
3. The acceptable courses are graduation, post-graduation, diplomas, and PhD from a recognized university. 
4. There is no maximum loan limit however, for NRI students the maximum loan limit is Rs. 20 lakhs if the institute is not premium and Rs. 30 lakhs if the institute is premium. 
5. There are no margins for education loans up to Rs. 4 lakhs, a 5% margin for education loans above Rs. 4 lakhs for courses in India, and 15% for courses outside India. 
6. The loan covers tuition fees, hostel fees, examination fees, insurance, books and equipment, and transport. 
7. The repayment period is up to 15 years and interest is rebated for regular servicing of the loan. 
8. Third-party guarantors are not needed for loans of up to Rs. 4 lakhs; all loans above this require collateral. 

Beti Bachao Beti Padhao (BBBP):

1. In 2015, the Indian government launched the BBBP scheme to address issues concerning the female gender and women’s rights in India. 
2. The slogan used in the Beti Bachao Beti Padhao's campaign is ‘Save the girl child, educate the girl child’. 
3. The scheme therefore seeks to disapprove gender bias among the citizens as well as enhance the efficiency of welfare services for girls. It was started with a paid-up capital of Rs. 100 crore (US$ 13. 5 million) as fund. 

Sukanya Samriddhi Yojana:

1. The Sukanya Samriddhi Yojana enables one to make a minimum deposit of ₹ 250 and a maximum of ₹ 1. 5 lakh per financial year.
2. An account can be opened for a girl child until the age of 10 years and the account that is in the name of the girl child should be a singular one. 
3. These accounts can be opened at the post offices or any other bank that has been authorized to do so. 
4. This means that one is allowed to make withdrawals that go to the account holder’s higher education expenses in case of Marriage after 18 of the girl child, the account can be closed early.
5. The account can be transferred anywhere in India from one post office to the other or from a post office to a bank. 
6. The deposits are allowed to be deducted from the gross income computed under section 80C of the Income Tax Act while interest earned is free from tax under section 10 of the Income Tax Act. 

The Balika Samridhi Yojana (BSY)

1. The Balika Samridhi Yojana (BSY) offers ₹500 as the first cash assistance once a daughter is born. 
2. Rs. 2000/- is provided yearly till the girl is in Class 10 for her schooling requirements. 
3. This is philanthropic and aims at promoting girl child education and upon attaining the age of 18, the girl is allowed to withdraw the amount which has been accumulating in the bank. 
4. The benefit of the Balika Samridhi Yojana 2024 is available to daughters who are below the age of 18 years and born on or after 15th August 1997. 

Savitribai Jyotirao Phule Fellowship For Single Girl Child

1. The Savitribai Jyotirao Phule fellowship for Single Girl Child (SJSGC) under the University Grant Commission for Higher Education provides fellowship for single girl children doing Ph. D. 
2. This fellowship is available to girls who are alone in the family and girls who are twin or fraternal daughters of the family. 
3. This helps with a stipend of ₹ 31,000/- per month for the initial years and ₹ 35,000/- per month for the rest of the term of the project and contingency expenses. 
4. The tenure is five years, counted from the first of April of the selection year or the date when the member joins the committee, whichever is later. 
5. Employees of the University have the right to HRA, medical facilities, maternity/paternity leave, and academic leave, provided that the scholar meets the conditions of the University’s policies. 
6. The number of slots is computed on an annual basis depending on the total and qualified online applications. 

Post Graduate Indira Gandhi Scholarship For Single Girl Child

1. Scholarship for the girl students admitted to the first year of PG courses in the University or Postgraduate College, who are the only girl child in their family is provided by the University Grants Commission. 
2. The scholarship amount is ₹36,000 per year for the course of the PG course that the student intends to pursue. 
3. This scheme is to help single girl children to do postgraduate classes and to encourage small family size. 
4. Applicants are required to apply online through the National Scholarship Portal once it is opened for the session, as mentioned on the UGC official website. 
5. It has proposed to sanction 3000 fresh scholarships and disbursement of these scholarships will be done every year through the DBT mode.

Scholarship Scheme for Girl Children of Jute Mills / MSMEs Workers

1. The scheme is to ensure that the daughters of the workers in the Jute Mills and MSMEs continue their Secondary and Higher Secondary education to become employable. 
2. This is sought to make the workers feel socially secure by taking provisions for their children and empowering women through education. 
3. The incentives are in the form of monetary incentives of ₹5,000 for Secondary Education and ₹10,000 for Higher Secondary Education for girl children. 

Internship Programme for Women Students / Scholars / Social Activists / Teachers

1. The Ministry of Women and Child Development has launched an Internship Programme to leverage the talent of interns, improving the efficiency of scheme implementation and policy deliberation. 
2. This program offers a platform for research related to government initiatives and aims to address issues concerning women and children in India. 
3. Interns receive a stipend of ₹20,000 per month, travel cost reimbursements, and hostel accommodations with basic amenities. 
4. They are also provided with necessary logistical support and an Internship Coordinator. Upon successful completion, interns receive a certificate.

Swami Vivekananda Single Girl Child Fellowship For Research In Social Sciences

1. University Grants Commission, Government of India provides a fellowship for a single girl child to pursue Ph. D. research in Social Sciences to meet the expenses of education. 
2. The scheme is to cater to the needs of these students, to encourage small family norms, and to respect the social value of single girl children. 
3. The target beneficiaries are those girls who are the only children in their families, identical or fraternal twins are also accepted.
4. Financial aid comprises a fellowship of Rs. 25000/- per month for the initial two years and Rs. 28000/- per month afterwards with other contingency and escort reader allowance for PwD candidates. 

RMEWF-Financial Assistance For Education Of Children & Widows Of Ex-Servicemen

1. This scheme offers money for the schooling of the children of Ex-Servicemen up to graduation level and for the widows of Ex-Servicemen to pursue postgraduate classes. 
2. It aims for dependent children (maximum two per family) of Ex-Servicemen up to the rank of Havildar in the Army and equivalent in the Navy and Air Force being below the age of 18 years but above the age of 15 years and should be disabled and should not be receiving similar benefits from the state or her/his employer. 
3. The scheme also applies to widows for post-graduate courses. Each of the qualified children and widows is paid ₹1000 monthly and in a lump sum for each academic year

Pragati Scholarship Scheme For Girl Students (For diploma and degree)

1. The AICTE, Ministry of Education, provides a scholarship program for women who have been admitted in the 1st or 2nd year of a technical diploma program or a degree program of an AICTE member institution. 
2. This policy restricts girl children to two per family; any additional girl children that a family has are not entitled to the benefits of this policy. 
3. The scholarship is renewable for up to three years for students who are admitted directly into first-year and up to two years for those who join the University through lateral transfer as second-year students. 
4. Every student is given ₹50,000 per annum for each year of study to meet college fees, computer, stationery, books, equipment, software, etc., no grant is given for hostel or medical charges. 

Post-Doctoral Fellowship To Women Candidates

1. The UGC’s “Post Doctoral Fellowship for Women” helps unemployed female Ph. D. holders to enhance their knowledge and research. 
2. The fellowship is for five years without renewable terms, and it provides one hundred positions every year. 
3. Newcomers are paid ₹38,800 monthly, which rises to ₹46,500 after two years
4. The annual contingency allowance is ₹50,000, and a fixed Escorts/Reader allowance of ₹2,000 is provided to PWD candidates. 
5. Living accommodation may be required to be housed in a hostel, with no HRA for hostel dwellers. If not housed in a hostel then actual HRA will be paid.
6. Fellows are allowed to use university medical facilities; and are granted sick leaves up to 30 days a year; maternity leaves as per government policy. There are no permitted additional vacations. 

CBSE Merit Scholarship Scheme For Single Girl Child

1. The Ministry of Education has a scholarship scheme for single girl child students who are the only children of their parents, passed the CBSE Class 10th examination with 60% and above, and pursuing 11th and 12th classes. 
2. This scheme is intended to help identify and reward the educational endeavours of the learners as well as their families. 
3. The scholarship is ₹500 per month for a maximum of two years, the amount is paid through ECS/NEFT. 
4. The tuition fee which should be taken for the scholarship purpose should not be more than ₹1,500 per month and any hike in the fee structure should not be more than 10% of the previous year’s fee structure.