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4th December 2015, 12:35 PM
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Join Date: May 2012
Re: Corporation Bank Student Loan

Corporation Bank is a public sector banking company headquartered in Mangalore, India. The bank was established on 12 March 1906.

Corp Vidya - Loan to pursue Education

Eligibility of the Student-

Should have completed previous qualifying examination with at least 60% marks [55% for student belonging to SC/ST category ]

Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance test / Merit based selection process/through Management quota after completion of HSC [10+2 or equivalent]

Person already in gainful employment not eligible for loan under the scheme except for pursuing evening course covered under the scheme of approved Institute.

If a gainfully employed person wants to pursue full time education either on study leave or by resigning from present employment, then the applicant submits the proof in this regard to the sanctioning authority before disbursement of loan.

Student should be an Indian national.

Eligible Course
s-

For Studies in India:

Courses like ICWA, CA/integrated CA -on virtual /video mode , CFA,etc..

Courses conducted by IIMs, IITs, IISc, XLRI, NIFT, NID etc.

Approved courses leading to Graduate/Post Graduate Degree, Diploma and PG Diplomas conducted by recognized Colleges/Universities recognized by UGC/Govt/AICTE/ AIBMS/ICMR etc.

Regular Degree/Diploma courses like Aeronautical, Pilot training, Shipping etc., approved by Director General of Civil Aviation/ Shipping, if the course is pursued in India.

In case of the Aircraft Maintenance Engineering /Pre Sea training courses must be either a Degree course recognized by a competent University or Diploma course recognized by appropriate State Body to be eligible for loan.

Teachers training /Nursing/B.Ed courses provided the training institutions are approved either by Central Govt or by State Govt and such courses should lead to Degree or Diploma course and not to Certificate course.

Research course/Ph.D courses for study in India are not eligible for loan under the scheme.

Approved Courses offered in India by reputed Foreign Universities.

Correspondence courses/Part time /Certificate/Short duration /Vocational / skill development study courses , off-campus courses and On-site/Partnership programme are not eligible for loan under the scheme.

For Studies abroad:

Course conducted by CIMA- London, CPA in USA etc.

Graduation: For job oriented Professional/Technical courses offered by reputed Universities .

Post Graduation: MCA, MBA, MS etc.

Degree/Diploma courses like aeronautical, pilot training, shipping etc provided these are recognized by competent regulatory bodies in India/Abroad for the purpose of employment in India/Abroad.

Diploma courses for study abroad is not permitted.

However, PG diploma courses for study abroad is permitted

Research course/Ph.D courses for study abroad are not eligible for loan under the scheme.

Eligible Expenses-

Fee payable to College./School/Hostel /Examination/ Library/ Laboratory fee

Purchase of books/equipments/instruments/uniforms

Travel expenses/Passage money for studies abroad.

Caution Deposit, Building Fund/Refundable deposit, though supported by Institution bills/receipts, are not eligible.

Purchase of computer at reasonable cost, if required for completion of the course

Any other expenses required to complete the course like study tours, project work, thesis etc.

Margin

Upto Rs. 4 lakh - Nil
Above Rs. 4 lakh - Studies in India 5%
Studies abroad 15%
Margin may be brought–in on year-to-year basis as and when disbursement are made on a pro-rate basis


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