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Have you ever dreamed of studying at Harvard, Oxford, or MIT but stopped yourself because of the cost? You’re not alone. Every year, thousands of bright Indian students face the same challenge. They’ve got the grades, the admission letters, and the passion to study abroad, but money becomes the biggest barrier.
The problem is clear: international education comes at a high price, often beyond the reach of middle-class families. This leaves students torn between giving up on their dreams or putting their families under massive financial stress.
But here’s the good news. The education loan scheme by Narendra Modi has made it possible for students to access funding in a simpler, more transparent way. Through the Vidya Lakshmi portal, education loans are no longer a distant dream but a real opportunity for students across India.
An education loan is financial support given to students, so they can pay for tuition fees, living costs, travel, and other study-related expenses. These loans come in different forms: secured, unsecured, domestic, and international.
Before applying, students must understand these differences, as the right loan type can make a big difference in repayment and approval chances. Now that we understand the basics, let’s dive into how education loan scheme by Narendra Modi comes into play, making the process far more student-friendly.
Students applying through the Vidya Lakshmi Portal can choose from a wide range of banks. The platform includes major public sector banks, private banks, as well as regional and cooperative banks, giving students multiple options based on their needs.
Check the table below for the list of all participating banks:
| Public Sector Banks | Private Sector Banks | Regional & Cooperative Banks |
|---|---|---|
| State Bank of India (SBI) | HDFC Bank | Abhyudaya Cooperative Bank Limited |
| Bank of Baroda (BoB) | ICICI Bank | Andhra Pragathi Grameena Bank |
| Punjab National Bank (PNB) | Axis Bank | Chhattisgarh Rajya Gramin Bank |
| Canara Bank | Kotak Mahindra Bank | City Union Bank Limited |
| Central Bank of India | RBL Bank | Dombivli Nagari Sahakari Bank Limited |
| Bank of India | YES Bank | GP Parsik Bank Ltd |
| Bank of Maharashtra | Federal Bank | Jammu & Kashmir Bank Ltd |
| Indian Bank | Karur Vysya Bank | Karnataka Vikas Grameen Bank |
| Indian Overseas Bank (IOB) | South Indian Bank | Kerala Gramin Bank |
| Union Bank of India | Tamilnad Mercantile Bank Ltd | New India Cooperative Bank Limited |
| UCO Bank | The Kalupur Commercial Co-Op Bank Ltd | |
| Punjab & Sind Bank |
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FAQs: Education Loan Scheme by Narendra Modi for Study Abroad Students
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