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Weren’t Eligible For A Postgraduate Scholarship? How About An Education Loan?

By Author: Rajat Kumar
Total Articles: 52

The education system in our country is suffering because of negligence. There are only a few Institutions considered as world-class today. The imbalance of Student-Teacher ratio and a limited number of reputed institutions has given rise to the cut-throat competition, and lack of funds, making this task even tougher for financially underprivileged kids.

The purpose of writing this piece is to enlighten bright students about the various postgraduate scholarship options available so that they can consider before calling off their admissions in these prime institutes.


1. Scholarships
There are many higher education scholarships available in the country. Additionally, there are many foundations and institutions which provide grants for students with brilliant track record in academics. Some of the scholarships are listed as under:
● J C Bose National Fellowships
● IGCAR JRF
● Lalit Kala Akademi Scholarship
● JBNSTS Senior Scholarship Test 2018
● Narotam Sekhsaria Foundation Scholarship
● Ramanujan Fellowships
● INSPIRE SHE Scholarship

Sometimes, a student fails to cash in these opportunities despite giving very good performances in the past. Some of the possible reasons for this are listed as under:
● Many applications for a fixed number of grants
● Missing the deadline for application
● Incorrect submission of application
● Not knowing about the particular Scholarship program
● Not understanding the procedure for application.

2. Education Loans
All is not lost for those who fail to get any scholarships from any organisations. Instead, they can avail the education loan which gives them the opportunity to continue with the course. The documents required before applying for the loan is listed as under:
● SSC, HSC or Graduation mark sheets
● Age Proof
● KYC
● Residence Proof
● Income Documents of parents/guardian
● Collaterals in the form of FDs
● Signature Proof
● Identity Proof
● Application Form and Photographs.

The top 3 banks providing education loan in India is listed as under:

1. State Bank of India
Called the SBI Student Loan Scheme, it offers education loans to students to pursue the education of their choice. The loan is provided to students to take up technical and professional, graduate and postgraduate degree courses such as MBA, MCA, MS.

2. Punjab National Bank
Punjab National Bank offers two schemes namely, the ‘PNB Saraswati scheme’ and ‘PNB Udaan’ scheme to provide education loans to students planning to continue their higher studies. The loan covers university fees, travel, exam fees, lab fees, library fees, book/equipment fees and other related expenses.

3. HDFC Bank
HDFC bank offers an education loan with flexible repayment tenures. Through this bank, students can get an education loan for multiple courses across 36 countries.

4. Zero Interest Loans
There are organisations in the market always looking out for bright academic minds who are unable to continue with studies due to lack of funds. Narotam Sekhsaria Scholarship Programme is one such opportunity. This grant of postgraduate scholarship is for students who wish to pursue their studies in the field of Pure Sciences, Applied Sciences, Social Sciences and Humanities, Law, Architecture, Engineering and Management at prestigious Indian and international universities. Beneficiaries are required to go through a hassle-free procedure followed by proper scrutiny before they are awarded the scholarship loan.

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