Foreign Education Loan Scheme
A programme by Karnataka Minorities Development Corporation (KMDC) (Karnataka Minorities Development Corporation)
A loan for minority students doing a graduate or postgraduate degree at a recognised university abroad, secured on a mortgage of property.
At a glance
| Best for | Minority students with an offer letter from a foreign university and a property to mortgage |
|---|
About Foreign Education Loan Scheme
The Foreign Education Loan Scheme lends to students from minority communities who are studying for a graduate or postgraduate degree at a recognised university abroad. The loan is secured on a mortgage of property. Families below the income limit can get the loan at zero interest. The corporation's reports call this the Loan Scheme for Overseas Education.
What you get
- A loan for graduate or postgraduate study at a recognised university abroad
- Zero interest for families below the income limit the scheme page sets
Who can apply
- Students from a minority community
- Students who scored at least 60% in the previous year
- Students with an offer letter from a foreign university
- Students who have not received a scholarship from the Directorate of Minorities
- A property, building or land, mortgaged to the corporation and worth at least the loan amount
How to apply: The scheme page does not set out an application route. Ask the head office in Bengaluru how to apply before you prepare your documents.
Where to apply
Other KMDC programmes
- Arivu Education Loan SchemeAn education loan for religious-minority students admitted through CET or NEET to listed professional and science courses, repayable with a 2% per annum service charge.
- Swawalambi Sarathi SchemeA subsidy towards the cost of a taxi, goods vehicle or passenger autorickshaw, for applicants whose bank loan for the vehicle has been sanctioned.
- Direct Business Loan SchemeA loan for eligible minority entrepreneurs to start or expand a business, secured on a mortgage of property, with interest of 4% or 6% depending on family income.
- Ganga Kalyana SchemeA fully subsidised scheme providing bore wells, pumps and electrification to minorities and small farmers in rural areas.
- Shramashakthi Loan SchemeSkill training and a loan at 4% interest, repayable in 36 instalments, for religious-minority entrepreneurs; half the loan can become a subsidy if repaid on time.
Everything about Karnataka Minorities Development Corporation (KMDC)