The Government of India, in consultation with the Reserve Bank of India (RBI) and the Indian Bankers' Association (IBA), has created a Comprehensive Educational Loan Scheme to ensure that no deserving student in the country is deprived of higher education due to financial constraints. This scheme covers all types of courses, including professional courses in schools and colleges in India and abroad.
Many students face challenges in accessing higher education, particularly professional courses, due to the high costs involved at the admission stage and the recurring annual fees. While government scholarships help, they are not sufficient to meet the needs of all deserving students. Under these circumstances, educational loans from banks become a crucial financial resource.