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Extension of repayment period for educational loans..!

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Extension of repayment period for educational loans..!

Time Limit for Repayment of Educational Loans...

No such proposal is under consideration of the Government at present, the Minister of State for Finance said in a written reply in the Parliament on 6th December 2013 as follows...

"As per revised Model Education Loan Scheme of Indian Banks’ Association (IBA), the students are allowed repayment period of 10 years for education loans upto Rs 7.50 lakh and 15 years for loans above Rs 7.50 lakh. 

Students are allowed repayment holiday/moratorium during course period plus 1 year or 6 months after getting the job which ever is earlier. 

No such proposal is under consideration of the Government at present".

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