Education and Career Forum

Hello sir, I have qualified JEE Mains exam and got Civil stream at NIT Durgapur, West Bengal. I want to know how much amount is sanctioned by Central Government for education loan of this year?

According to my knowledge banks provide education loan on the basis of ranking, college.... If you are getting admitted in any reputed college then banks will provide loans easily and also large amount. But if your college is normal then, banks will sanction least amount for loans.
As per your data you are taking admission in one of the top most engineering colleges so your loan will be sanctioned easily.

*Education loan comes under Priority Sector Lending of banks. Every year banks of India either private or public sector have to sanction 40% amount to different sectors of economy which come under PSL.

*Sector under PSL include agriculture, export credit, housing, MSME etc. So, central government does not give amount to banks for sanction of education loan. Banks have to fulfill 40% limit within time. Central government gives education loan subsidy to different banks during course period.

*Hence, interest loan on education loan during course period is given by Central government.