New visa rule applied for tourist

New visa rule is applied for tourist in Nepal effective from 16 July 2008. Tourists who visit Nepal must hold valid passport and visa.

A. Entry

Tourist entry visa can be obtained for the following duration from Nepal Embassy/ Consulate or Mission offices abroad, or at the following immigration offices in Nepal:

• Tribhuvan International Airport, Kathmandu
• Kakarvitta, Jhapa (Eastern Nepal)
• Birganj, Parsa (Central Nepal)
• Kodari, Sindhupalchowk (Northern Border)
• Belhiya, Bhairahawa (Rupandehi, Western Nepal)
• Jamuna, Nepalgunj (Banke, Mid Western Nepal)
• Mohana, Dhangadhi (Kailali, Far Western Nepal)
• Gaddachauki, Mahendranagar (Kanchanpur, Far Western Nepal)

B. Tourist Visa

Visa Facility	Duration	Fee
Multiple entry	15 days	US$ 25 or equivalent convertible currency
Multiple entry	30 days	US$ 40 or equivalent convertible currency
Multiple entry	90 days	US$ 100 or equivalent convertible currency

C. Tourist Visa Extension

• Visa extension fee for 15 days or less is US $ 30 or equivalent convertible currency and visa extension fee for more than 15 days is US$ 2 per day
• Tourist visa can be extended for a maximum period of 150 days in a single visa year (January – December).

D. Gratis (Free) Visa

• Gratis visa for 30 days available only for tourists of SAARC countries.

• Indian nationals do not require visa to enter into Nepal.

E. Transit Visa

Transit visa for one day can be obtained from Nepal's immigration offices at the entry points upon the production of departure flight ticket via Tribhuvan International Airport in Nepal, by paying US $ 5 or equivalent convertible currency.

(For further information, please, contact Department of Immigration, Maitighar, Impact Building, Kathmandu, Tel:00977-1-4221996 / 4223590 / 4222453 , web site: www.immi.gov.np )

BANKING IN NEPAL

General Information

Payment in hotels, travel agencies and airlines are made in foreign exchange. Nepal has modern banking facilities and some of the International Banks have their own offices in Kathmandu. Almost all foreign currencies along with credit cards such as American Express, Visa and Master Card, etc. are accepted in Nepal at major hotels, shops and restaurants.

Remember: Check your credit card expiration dates if you are leaving for an extended journey.

All visitors are required to exchange their money through the bank or authorized agents. In Kathmandu banks have money exchange counters. These facilities to change money are quick and convenient. We are told it is necessary to ask for receipts when money is changed. On the return journey, if you are left with Nepalese rupees, they can exchange 10% against exchange receipts to about 10 or 12 different kinds of foreign currency at the Tribhuvan International Airport Kathmandu.

Note: Retain Rs. 1100 for airport tax when departing Nepal by air.

Major banks, hotels, and the exchange counters at Tribhuvan Airport provide services for exchanging foreign currency. US dollar traveler's checks can be purchased from American Express at Durbar Marg and other major banks in Kathmandu. Banks typically charge 1% of the face value to cash traveler's checks.

When traveling around Nepal, change large bills whenever you can. Taxis, Bicycle Rickshaws and small shops seldom have small bills. Do not be afraid to ask local shops for change, but expect to ask three or four before someone can/will change your large bill.

Mountain Biking in Nepal

What do you experience when you get a taste of different cultures, timelessness, adrenaline rush, physical hardship, quickly changing views to die for and sound of silence? -Divinity. This is the reason why most mountain bikers prefer Nepal as their destination to quench their thirst for an ultimate adventure. Nepal has different geographical terrains from snow covered gravity defying mountains on the north to cultivated rain fed terraced hills of mid region, tropical green flatlands of Terrai on the south, suitable for all bikers. The landscape changes constantly as you ride from the south towards the north, along with the culture, people and life style. Mountain biking is the best way to travel in Nepal if you want to get close to the nature and its flora and fauna.

Climate of Nepal

The Best Time To Come To Nepal

ClimateNepal's climate varies with its topography and altitude. It ranges from the tropical to the arctic. The low-land Terai region with its maximum altitude to approximately 305m, which lies in the tropical southern part of the country, for instance, has a hot and humid climate that can rise above 45 Degree Celsius (113 Degree Fahrenheit) during summer. The mid-land regions are pleasant almost all the year round, although winter nights are cool. The northern mountain region, around an altitude above 3,300m has an alpine climate with considerably lower temperature in winter as can be expected.

Seasons
Nepal has four climatic seasons.

Spring (Between March - May): The temperature is mildly warm in low lands while moderate in higher altitudes with plenty of opportunities to have tryst with the mountain views. It is also the time for flowers to blossom and the national flower of Nepal – rhododendron sweeps the ascending altitudes with its magnanimous color and beauty.

Summer (Between June - August): This is also the monsoon season in Nepal. The weather is hot and wet at times. It rains almost everyday with occasional thunderstorms in the evening. The rain spreads the pleasantness around with lush green vegetation.

Autumn (Bteween September - November): This is the best tourist season in Nepal with the summer gone by and the winter to set in. The weather is highly pleasant so are the mountain views. This is the peak season for trekking as mountain views are guaranteed so better book your flight in advance. This is also the season of festivities as Nepal celebrates the biggest Hindu festivals Dashain followed by Tihar.

Winter (Between December - February): The weather is cool and the sky is clear with occasional snowfalls at higher elevations. This season is good for trekking in lower elevations. The morning and night is cold and the days are warm when sunny.

Seasons in Nepal

Nepal experiences 4 seasons :

spring (Mar - May),

summer (Jun - Aug),

autumn (Sep - Nov) and

winter (Dec - Feb).

The climate is varied ranging from the sub-tropical Terai to the cool dry temperate and alpine climate in the northern Himalayan ranges. In the Terai, the hottest part of the country, summer temperatures may rise as high as 40°C. The climate is hot and humid. In the midmountain region, the summer climate is mild with temperatures around 25°C - 27°C.

The winter temperatures range from 7°C to 23°C in the Terai and subzero to 12°C in the mountain regions and valleys. The northern Himalayan region has an alpine climate. The valley of Kathmandu has a pleasant equable climate with average summer and winter temperatures of 19°C - 27°C and 2°C - 12°C respectively.

Precaution to avoid altitude at Kailash Mansarovar

The famous Hindu pilgrimage site- Mansarovar Lake in Kailash lies at 4,556 meter (14947.5 ft) above sea level and is located in Tibet Autonomous Region of China. Substantial number of pilgrims from India and other nationals visit there via Nepal route and prolonged high altitude journey via Tibet. From that perspective, Kathmandu has been established as a gateway to Mansarovar-Kailash area. Majority of the travelers are oriented about the arduous journey that they have to pass through, but few of them face sheer difficulty due to their age, health and acclimatization problem.

Highest place to cross while circumambulating Kailash Mountain is Drolma La Pass which is 5,636m. Since people are prone to altitude sickness above 3000 m, it’s necessary to take precaution to avoid unfateful event while travelling. It has been reported that the death of six Indian pilgrims in Kailash Mansarovar recently in Tibet is clearly due to altitude sickness, not because of starvation. In the past, many people died in this area because of the altitude reason, more than with any other causes.

Major entry points of Kailash Mansarovar are Kodari and Hilsa in Nepalese side. However, Kodari is the only entry point that has been linked with Kailash by motorable road. Distance between Kodari and Kailash is approximately 800 km and it takes minimum five days to reach there from Kodari.

Acclimation is considered as the best and most effective precaution to avoid such sad situation. Apparently traveling to Kailash from Nepal side has become popular due to its natural landscape which is suitable for gradual acclimatization. Therefore, it is highly recommended to spend a few days in Nepalese pilgrimage sites like Muktinath and Gosaikunda situated in higher altitude before proceeding to Kailash in Tibet.

Places to see in nepal

In kathmandu

Hanuman Dhoka ( Durbar Square )

The square is the complex of palaces, courtyards and temples that are built between the 12th and the 18th centuries by the ancient Malla Kings of Nepal. It is the social, religious and urban focal point of the city. Taleju Temple , Kal Bhairab (God of Destruction), Nautalle Durbar, Coronation Nasal Chowk, the Gaddi Baithak, the statue of King Pratap Malla, the Big Bell, Big Drum and the Jagnnath Temple are some of the interestin

g things to see in this Square.

An intriguing piece here is the 17 th century stone inscriptions that is set into the wall of the palace with writings in 15 languages. It is believed

that if anybody deciphers this entire inscription, the milk would flow from the spout, which lies just below the inscripted stonewall. Some people say that the inscription contains coded directions to a treasure King Pratap Malla has buried beneath Mohan chowk of Durbar Square .

There are several museums inside the palace building. There is an entrance feeof Rs. 250 for all the foreign visitors to visit all the museums of the palace building.

Akash Bhairav Temple

This is a three-storey temple situated in the main Market Avenue called Indra Chowk. The image of Akash Bhairav is displayed outside for a week during Indra Jatra, the festival of Indra (the God of Indra). The festival of Indra falls on monsoon season of Nepal.

Kumari Ghar (Temple of Kumari)

The temple or the residence of Living Goddess, Kumari, is situated in the vicinity of Hanuman Dhoka Palace. The building has beautifully carved wooden balconies and window screens. The Kumari- the living Goddess acknowledges the greetings from her balcony window. Photography is prohibited.

Kasthamandap

King Laxmi Narsingha Malla built this temple in the sixteenth century. It is said to be constructed from the wood of single tree. It is located near the temple of Kumari . Indeed the city of Kathmandu derives its name from this temple.

Behind Kasthamandap, there is a small but a very important temple of Ashok Vinayak, also known as Kathmandu Ganesh or Maru Ganesh.

Jaishi Dewal

Five minutes from Kasthmandap the Shiva Temple of Jaishi Dewal is famous for its erotic carvings. It is still one of the main tourist routes of the chariot festivals of Indra Jatra, Gai Jatra and other festivals.

Swayambhu Stupa

The most ancient and enigmatic of all the Valley's holy shrines lies 2 km west of Kathmandu city, across the Vishnumati river. The golden spire of Swayambhunath stupa crowns a wooded hillock and offers a commanding view of Kathmandu city. On clear days, one can even view a line of Himalayan peaks. The view is splendid at dusk as city lights flicker one by one, and even better when a full moon hangs in the sky.

The establishment of Swayambhunath Stupa goes back to the legendary beginning of the Kathmandu Valley.The legend says that when the bodhisattva Manjushri drained the waters of the lake to reveal the Kathmandu valley, the lotus of the lake was transformed into the hillock and the blazing light became the Swayambhu stupa. Swayambhunath stupa is a World Heritage Site.

Boudhanath Stupa

It is the biggest stupa in the Valley. The stupa, well known as Khasti, is also known as the World Heritage Site. It looms 36 meters high and presents one of the most fascinating specimens of stupa design. There are more than 45 Buddhist monasteries in the area. It lies about 6 km to the east of downtown Kathmandu . The Bouddha Area Preservation & Development Committee runs an information center.

Balaju Water Garden

It is situated below Nagarjun Hill about five-kilometer northwest of Kathmandu City. The garden is known for its bank of 22 stone waterspouts (hiti) carved in the shape of sea-dragons. It also consists of religious shrines, fishponds and a replica of the statue of Budhanilkantha. . There is also a swimming pool inside the park.

Budhanilkantha

Situated below Shivapuri hill at the northern end of the valley, Buddhanilkantha temple is 9 km from Kathmandu city. The temple consists of a pond in which lies a great stone figure of the Hindu god Vishnu reclining on the coils of a cosmic serpent. The huge statue of sleeping Vishnu is carved from the single block of black stone of a type not found in the valley. It is believed that ages before the two hardworking farmers (husband and wife) discovered the statue when they were ploughing their field.

Besides Budhanilkantha temple, there are other two sets of exactly similar, but smaller statues of 'sleeping Vishnu' in the Valley. One set is in the Balaju garden and the other is hidden in the old garden of Hanuman Dhoka Palace of Kathmandu city. A prophetic dream of King Pratap Malla generated the belief that the King of Nepal should never visit Buddhanilkantha temple on threat of death. He then built the similar statue in two places.

Pashupatinath Temple

The temple of Pashupatinath is Nepal's most scared Hindu shrines and one of the subcontinent's greatest Shiva sites, a sprawling collection of temples, ashrams, images and inscriptions raised over the centuries along the banks of the sacred Bagmati river.

The richly- ornamented pagoda, houses the sacred linga or phallic symbol of Lord Shiva.

Chronicles indicate the temlple's existence prior to 400 A.D, but a shrine may have stood here nearly 1000 years before that. Legend says that Shiva once took the form of an antelope and sported unkown in the forest on Bagmati river's east bank. The gods later caught up with him , and grabbing him by the horn, forced him to resume his divine form. The broken horn was worshipped as a linga and overtime was buried and lost. Centuries later an astonished herdsmen found one of his cows showering the earth with milk. Digging deep at the site, he discovered the divine linga of Pashupatinath.

The temple complex has been renovated and improved over the centuries. Entrance to the shrine is only restricted to Hindus, however, one can still get the good view of the sacred temple from vantage points across Bagmati river. Across the river, one can also visit the temple of Guhyeshwori and a classic 6th century ekmukhi "one-faced" linga of Shiva.

Trekking in nepal

Whether you begin your trek at a roadhead or fly into a remote mountain airstrip, a large part of it will be in the Middle Hills region at elevations between 500 and 3000 metres. In this region, there are always well-developed trails through villages and across mountain passes. Even at high altitudes there are intermittent settlements used during summer by shepherds, so the trails, though often indistinct, are always there. You can easily travel on any trail without the aid of ropes or mountaineering skills. There are rare occasions when there is snow on the trail, and on some high passes it might be necessary to place a safety line for your companions or porters if there is deep snow. Still, alpine techniques are almost never used on a traditional trek. Anyone who has walked extensively in the mountains has all the skills necessary for an extended trek in Nepal.

Though some treks venture near glaciers, and even cross the foot of them, most treks do not allow the fulfilment of any Himalayan mountaineering ambitions. Nepal's mountaineering regulations allow trekkers to climb 18 specified peaks with a minimum of formality, but you must still make a few advance arrangements for such climbs. Many agents offer so-called climbing treks which include the ascent of one of these peaks as a feature of the trek. There are a few peaks that, under ideal conditions, are within the resources of individual trekkers. A climb can be arranged in Kathmandu if conditions are right, but a climb of one of the more difficult peaks should be planned well in advance.

A Trek Requires Physical Effort

A trek is physically demanding because of its length and the almost unbelievable changes in elevation. During the 300-km trek from Jiri to Everest base camp and return, for example, the trail gains and loses more than 9000 metres of elevation during many steep ascents and descents. On most treks, the daily gain is less than 800 metres in about 15 km, though ascents of as much as 1200 metres are possible on some days. You can always take plenty of time during the day to cover this distance, so the physical exertion, though quite strenuous at times, is not sustained. You also can stop frequently and take plenty of time for rest.

Probably the only physical problem that may make a trek impossible is a history of knee problems on descents. In Nepal the descents are long, steep and unrelenting. There is hardly a level stretch of trail in the entire country. If you are an experienced walker and often hike 15 km a day with a pack, a trek should prove no difficulty. You will be pleasantly surprised at how easy the hiking can be if you only carry a light backpack and do not have to worry about meal preparation.

Previous experience in hiking and living outdoors is, however, helpful as you make plans for your trek. The first night of a month-long trip is too late to discover that you do not like to sleep in a sleeping bag. Mountaineering experience is not necessary, but you must enjoy walking.

How to Choose Your First Time Credit Card

It can be worse to have no credit than it is to have poor credit. Having no credit can really limit your ability to get a mortgage, buy a new car, or even get that job you want. While it doesn’t make sense, you can’t get credit when you have no established credit. Your first time credit card could be a bit difficult to get.

There are a few things you can do to establish credit. You can maintain a checking account and show you can handle it, your utility bills are paid on time and show the receipts, or any other receipts from regular monthly payments you have made.

Before you send in that first time credit card application, you need to check out your credit report. This can be obtained free once a year. Do not submit too many credit card applications in a short period of time or your credit rating will go down. It will also go down if you have too many credit inquiries in a short time.

One thing that can boost your credit rating is to have a passbook savings account and ask the bank for a secured loan. They can keep the passbook until the loan is paid. You need to be sure the payments are kept current and made on time. It is also wise to make sure the bank reports to the credit bureau on the status of your loan.

If you are a full time college student, apply for your first time credit card by making out an application for a student credit card. Card companies are more apt to issue first time credit cards to those who are interested in education because they feel these people are a bit more responsible.

You can also get a first time credit card that is secured. This is where you deposit the amount you want as a balance into an account and this will be used when you use the card. You will still need to pay your payments on time to keep a good credit rating.

You may also be added as an authorized card user to the account of another person who has a good credit history. This could be a parent or grandparent, this will help to show creditors that you are responsible and you can be removed once you are able to open your first time credit card account.

Once you have opened your first time credit card account, use it wisely. It is important that you know your limitations or you will find your credit rating will be a mess. It is best to only use this first time credit card when it is absolutely necessary. It is also best if you are able to pay off the entire balance every month.

WHY STUDENTS EXCHANGE

Students participate in NSE in order to:

• experience personal growth
• live in a different geographic area
• become more independent and resourceful
• broaden personal and educational perspectives
• explore and appreciate new cultures
• widen university boundaries
• take courses not offered on their home campus
• learn from different professors
• access courses with different perspectives
• explore new areas of study
• investigate graduate or professional schools
• look for future employment opportunities
• break out of their comfort zones
• acquire life skills
• experience life from a different point of view

Participating in NSE can be exhilarating, culturally enriching, and one of the most significant experiences of your undergraduate education. The changes seen in student attitudes, understanding of other people in other settings, maturity, self-confidence, and decision-making are similar to the experiences of students who study internationally.

IMPACT OF THE EXCHANGE EXPERIENCE

For participating NSE students, the year on exchange is usually the most significant and enjoyable year in their education. Students return home with a fresh outlook on their education and better able to define academic and career objectives. It is also a year of dramatic personal growth and maturity, particularly for students who are not well-traveled or have lived most of their lives in the region where they are attending college. Students frequently return from exchange with more self-confidence and independence, greater decision-making skills, better able to take risks, and with a better defined view of their future.

It is not unusual for NSE students to consider, after returning to their home environment, participation in a study abroad program as well as graduate school and employment opportunities outside of their home region. Like study abroad, volunteerism, internships and research, NSE is an enhancement of your undergraduate program, demonstrating to graduate schools and future employers that you have gone beyond the expected.

ABOUT NATIONAL STUDENT EXCHANGE

The National Student Exchange (NSE) is a program for undergraduate exchange within the United States and Canada. Instead of crossing oceans, NSE students cross state, regional, provincial, and cultural borders.

NSE was established in 1968 with three universities in Alabama, Illinois, and Montana exchanging seven students among their institutions. Administrators on those campuses wanted to help students who would not or could not take advantage of studying abroad by providing them with living and learning opportunities within their own country. Since then NSE has grown beyond their greatest imaginations and has provided life-changing opportunities to more than 90,000 students. The program expanded in the mid-1990s to include Canadian colleges and universities.

Through the National Student Exchange, you can study for up to one calendar year at another location. With nearly 200 colleges and universities from which to choose, you should be able to find a university with just the right combination of courses, facilities, and environment to meet your academic and personal needs and interests.

Consolidate Student Loans

When is the Best Time?

Student loans can become a terrible financial burden under a lot of circumstances. Don’t believe for one second that financial duress only happens to people with low incomes. Here are some of the main questions you may ask yourself about student consolidation loans:

But what exactly is loan consolidation?

What types of student loan programs feature consolidation plans?

Where can you find a student loan consolidation lender?

Is consolidation a choice that’s right for you?

6 Things about Scholarships

1.) No Login or Registration Required

Go straight to the scholarships that interest you and begin the application process. Every scholarship in our database is easy and simple to view, just by clicking.

Avoid time-wasting survey forms

Stay away from intruding sales pitches

No username or password necessary

2.) The Scholarships you want are just a Few Clicks Away

Narrow your search through our site to quickly find the opportunities you want. Please note that the selections become more unique as you search further, and the selections are located at the top of the left menu for easy browsing.

Here is one example of searching our site, starting with the home page: To view scholarships offered to Native American students, you would first select the ‘Minority’ category, then view the top left menu where a list of minority groups are listed. Select ‘Native American’ from the menu list, where you will arrive at a list of specialized Native American scholarship information in just two clicks. Simple.

3.) College Grant and Student Loan Information also Available.

Besides scholarships, you can receive other financial aid in the form of grants and student loans. We cover these topics with a very wide perspective so you can make an informed decision to fulfill your financial need requirements.

4.) Search the Web using our Customized, Spam-Free Google Search Engine

We scoured the web and chose only reputable websites to include in our customized search engine database, which is powered by Google technology. You won’t have to worry about arriving at any questionable websites or resources if you use this valuable new tool.

5.) We Offer Our Own Scholarships

The College Scholarships Foundation is the non-profit entity behind the scholarships provided here on this site. This foundation offers many varieties of funding such as traditional scholarships for minorities and women, while also introducing popular offers such as the First Ever Blogging Scholarship.

6.) Our Financial Aid Blog is Overseen by Educational Experts

We have relationships with educational consultants, financial aid directors/officers, and others who work daily on a face-to-face basis with college students and their financial issues. All of our up-to-date news, opinion, and commentary concerning financial aid and other college-related topics can be accessed by subscribing and reading our Financial Aid Blog.

Student Exchange Program – What to Expect

You’ve decided that it’s time to stretch your wings out and to see another country, and rather than joining the military you’ve decided that the best way for you to do that is to join a student exchange program. Either that or your sick of your high school. For whatever reason, you’ve decided that now is the time to visit another world and you believe that joining an exchange program is the best way to do it. Most students walk into an exchange program having only read the small pamphlet, unsure what will happen when they immerse themselves in another culture. Here are a few things that you should expect when becoming part of a student exchange program.

A new family. When you become a part of student exchange programs, you are becoming a part of a new family. You will be living with another family, in a totally different country, and will be eating what they eat and doing what they do. Most families are extremely friendly and have hosted exchange students a number of times.

A new routine. Everyone has routines in their households, but once you are in a student exchange program you will be getting rid of most of your old routine and joining into the routine of a new family. Again, these families are often very knowledgeable when it comes to dealing with exchange students and will help you to acclimate to the change smoothly.

A new school. The whole point of becoming part of the student exchange program is to learn things at a new school. The school that you will be a student at will be a school that has signed up to be a part of student exchange programs, and they will also be very capable with helping you to integrate into your new lifestyle.

A bit of homesickness. It’s natural for all students to experience a bit of homesickness when they go to a new country, but there are ways to cope, and all students say that the slight bit of homesickness they feel was worth it for the experiences that they had.

Being an exchange student is a great way to learn much more about the world than you’ll ever learn about in a book, and has often helped students to decide upon the type of lifestyle they want once they become adults.

Student Travel

Getting away is an essential part of remaining sane during the hectic college years. Travel agents and airlines understand this need and typically offer student travelers discounts on airfare and other related costs.

Do a little research and make sure you get the best deal. There is a lot of competition in the travel industry, so you will want to check more than one travel agent to make sure you are getting the most for your money. Usually, package deals will offer the best value.

Preparation

Unlike spring break trips to beach resorts that prepare for an influx of college students, general student travel will usually take you to destinations that are not catering specifically to traveling students. So doing a bit of research on your chosen destination beforehand can make getting around and getting the most out of the local attractions a much more smooth experience.

Read a packing tutorial or two to learn how to effectively pack for your trip. You will want to pack light, and will also want to make sure you pack in a way that keeps any valuables safe.

If you will be traveling abroad, you also need to remember to obtain any necessary documents well in advance. A passport is the obvious one, but obtaining a visa to visit some countries will also require immunization records and some kind of health certificate.

Destination options

While traveling often is about finding the most exotic destination you can possibly afford, traveling during college should be seen more as an opportunity to unwind and put the rigors of school life behind you, if only for a while. With that in mind, just about any destination can work as a student getaway. And truth be told, often the best vacation spots can be found closer to home than expected.

Looking for tropic relaxation? Try nearby and inexpensive Mexico, or better yet, Puerto Rico, which offers a Latin American atmosphere without the need for a passport. For those interested in a beach experience, Florida, California, southern Texas and a host of other US destinations have you covered. If mountain scenery and perhaps a little skiiing are more to your taste, few places in the world can compare to Colorado’s famed ski resorts. For tranquil small-town continental living, why travel all the way to Europe when New England offers a very similar atmosphere?

Bottom line, remember you are still in college and are likely either working to pay for that higher education or will have some student loans to pay off when all is said and done. Don’t break the bank with a midterm trip. Student travel discounts exist to help you save more of your money to pay for school, not to stretch your last penny as far as possible in order to get to the other side of the world.

Getting away during college is important, and there is no reason to not go to the best place you can reasonably afford. But for most, attending college is a financially overwhelming endeavor. Student travel discounts and a plethora of top quality destinations right in North America can put a world class getaway within reach of any student.

Jobs for Students

The thought of having to work your way through school is not a pleasant one for most. College is viewed as a time to take a step toward adulthood, toward living in the “real world,” but without the full weight of having to support yourself. And that is as it should be. After all, the focus should really be on studying and gaining an education so that you are better equipped to support yourself later on.

For some, however, working through college is simply unavoidable in order to pay the tuition and other related costs. Some will choose to work even if they don’t necessarily have to in order to have a bit of extra cash in their pockets. Whatever the reason, getting a job in college doesn’t have to mean a deterioration of your social life or a hindrance to learning.

Most college towns thrive economically off of the student body, and many local businesses rely on students for seasonal staff. What that means for you is that these places of temporary employment know your needs as a student and are more likely to work around your schedule.

Restaurants, eateries, bars and nightclubs abound in college towns, and are almost always looking for temporary staff, making them the natural choice for most student job hunters. If you want something a little less hectic, small local stores or local department stores also provide good temporary employment opportunities.

And when you head home for the summer or winter break, most restaurants, bars, department stores and the like will be hiring on a seasonal basis to accommodate the greater number of customers during those seasons. Again, a tailor-made opportunity for a student who needs to make a little extra money before heading back to school.

So how do you go about finding these jobs, whether at school or during your breaks at home? The first and most obvious way is to just keep your eyes open when you are out. The types of establishments listed above will usually have some kind of public notification about temporary or seasonal job openings.

If you are in more of a rush, spend half a day driving around to the restaurants or local stores and ask a manager if they are hiring. You are guaranteed to find at least a few options.

The Internet is also a great way to find a student job. The student sections of a lot of university websites include resources for finding local jobs. Also, there are a growing number of local and national websites that aggregate student job listings.

A modern alternative for the student job seeker is doing some kind of work via the Internet. If you are good at web design, writing or graphical art, you can offer your services on a freelance basis. This is really ideal for students, as you can work on your computer from wherever is most comfortable for you, and only take as much work as you can or want to handle.

If you really want to get a head start on life, you can create and run a full-fledged online business while you are still in school. Many have done it with great success, and the time requirements are usually very manageable.

Getting a job during school may not sound very appealing, but remember, in addition to possibly being necessary to actually pay for school, a student job can help to prepare you for what is coming after graduation.

Student Credit Cards

Credit Cards for students provide a great way for young adults to learn about and establish credit while attending college. All too many students these days are leaving college with little or no experience with credit cards or other financial services, knowledge of which is very important in todays world.

Needless to say, banks and other financial institutions are eager to get credit cards into the hands of college students. But those offering credit cards will be looking after their business interests, not your personal interests (despite what their marketing material says) so it is important to properly research and find the right student credit card offer for you.

Now, the task of researching student credit cards has been made far more difficult by an army of unscrupulous Internet marketers pushing whatever programs are going to earn them the most affiliate commission, again, with little or no regard for your long-term well-being.

The reason that researching and avoiding scams when looking for a student credit card is so important is that overspending as a student is frighteningly easy to do. College is the first step out from under our parents’ roof, the first step toward life in the “real world,” and most taking that step have never before had to think about things like interest rates. The result is that many simply don’t think about such things at all, at least not until after graduation when a monster credit card bill arrives in the mail.

These warnings are not meant to cause despair. It is easy to find the right information about student credit cards if you know where to look.

A first step would be to brush up on the terms used by most credit card companies. One common term that those unfamiliar with managing their own finances may be stuck on is APR, or annual percentage rate.

APR is a representation of the effective interest rate you will pay on the money you have borrowed by using your credit card. This is an important one to remember. You don’t want to sign up for a credit card, use it even modestly, only to realize that the $5,000 you spent has turned into up to $7,000 of debt.

A 30% APR is on the high end of US credit card interest rates, and most should be able to avoid having to accept such conditions due to a lack of bad credit history. But don’t settle even for a 15% APR if you can do better. Many banks will offer as low as a 6% APR for students that may already have some kind of positive credit history, savings or parents who are willing to co-sign.

Most of the other terms used when looking for a student credit card are fairly self explanatory, like annual fees and introductory interest rates. If you are unclear on any of these terms, use Google, but select your results with caution, or head over to Wikipedia.

After familiarizing yourself with the terminology, you are ready to go fill out a student credit card application. There are a lot of companies and individuals out there trying to sell you someone else’s credit card, and some of them may offer attractive incentives. However, it is usually better to go straight to the bank that issues the credit card. Almost all local and national banks offer student credit cards, and will help you to quickly determine if you are eligible and get you started if you are.

Remember! Watch your spending. Credit cards can add a lot of convenience, but can also get you in a lot of trouble. Bad credit will stay with you long after you have graduated and paid off your debts. Take the opportunity offered by what may be your first credit card to learn how to budget and keep track of your finances.

Student Finance England

For all students whose 'domicile' (family or full-time home base) is in England, radical changes are underway to enhance and improve the student finance system. Now known as Student Finance England, this is a comprehensive new service which is being phased in between now (2008) and 2012 and is being based on widespread consultation with students, prospective students, parents and other 'sponsors' helping a student through university. It seeks to reduce significantly the amount of time and effort required to apply for finance and the system is being constructed in a way which joins up the main agencies in higher education in a way that has not existed hitherto. The time scale of application is being changed, so that a student will be able to apply for finance at the same time as they apply for a university place and information is being shared in such a way that repeated requests for the same student details will be got rid of.

First year students applying this year for a place in 2009 will have to deal with just two agencies - UCAS (to apply for a place) and the Student Loans Company, which will share much of the information supplied to UCAS and will then assess the applicant's eligibility for finance and make the appropriate payments. This service will be increased and extended to second and third year students in the subsequent two years until all applicants are assessed in the same way by SLC.

Already, student finance has been radically changed to make it much easier for people from less well-off backgrounds to attend university. Now, anyone from a home background earning less than £25,000 but not more than £60,000 after normal deductions is entitled to a maintenance grant, the size of which(up to £2,835) will depend on income. Also, those entitled to the full maintenance grant are automatically entitled to the full bursary at their place of study (which can be up to £3,000 but is typically £1,000 per academic year). This year, the maximum loan amount for studying in London is £6,928 and (away from the family home) elsewhere £4,950.

Reliable source: Learning and Development Trainer within The Student Loans Company/Student Support Regulations as publised by DIUS (now known as BIS - Department for Business, Innovation and Skills)

Oriental Bank Loan

Purpose :

For higher education(after schooling).

Items eligible for Finance:-

Admission fee/Monthly fee/Examination fee, Books, Stationery & equipments, Air fare for joining the course abroad, Boarding & lodging expenses of hostel/boarding houses, where charges are standardised and paid to the Management of the Boarding House. Any other expenses required to complete the course like study tours, project work, thesis etc.

Eligibility:

Indian nationals not above 45 years of age those who secured admission in a recognized course of an approved university (AICTE approved institutions) OR institutes recognized by a statutory body.

Amount of Loan:

Education in India - Max. Rs.10.00 lacs.

Education Abroad - Max. Rs.20.00 lacs.

Security:

For Loans upto Rs.4.00 lac

No Collateral Security

Co-obligation of parents/guardian is must.

For Loans above 4 lacs and upto Rs.7.50 lacs

No Collateral Security required,

Co-obligation of parents/guardian is must

One satisfactory third party guarantee

Above Rs.7.50 lacs

Co-obligation of parents/guardian is obligatory.

Mortgage of immovable property or any other tangible security like pledge of NSC/UTI/LIC (Surrender Value)/Bonds/

Banks deposits (Except under tax saving scheme) etc. . having value at least equal to 100% of loan. Extension of charge on property already mortgaged with our Bank, subject to adequate residual value of security.

Margin:

Upto 4 lacs - NIL

Above 4 lacs for education in India - 5%

Education Abroad - 15%

Special Rate:

0.50% concession to women beneficiaries, SC/STs and disabled students.

Process Fee:

Upto 4 lacs - Rs. 100/-.

Above 4 lacs for education in India - Rs. 500/-

Education Abroad - Rs. 1000/-

Repayment:

Within 84 EMIs commencing 12 months after course or 6 months after getting the job, whichever is earlier.

Insurance:

Free Personal Accident Insurance upto Rs.20 lac.

EDUCATION LOAN SCHEMES IN PUNJAB & SIND BANK INDIA

1. Objective of the scheme: The educational loan scheme outlined below aims at providing financial support from the banking system to deserving and / meritorious students for persuing higher education in India and abroad. The main emphasis is that every meritorious student though poor is provided with an opportunity to persue education with the financial support from the banking system with affordable terms and conditions. No deserving student is denied an opportunity to persue higher education for want of financial support.

2. Applicability of the Scheme: The scheme detailed below could be adopted by all commercial Banks. The scheme provides broad guidelines to the banks for operationalising the educational loan scheme and the implementing bank will have the discretion to make changes suiting to the conveninence of the students / to make it more customer friendly.

3. Eligibility Criteria :

3.1 Student Eligibility :

Student should be an Indian National

Secured admission to professional / technical courses in India or abroad through entrance Test / Merit Based Selection process.

3.2 Courses Eligible:

(a) Studies in India : ( Indicative List)

Graduation courses : B.A. B.Com, B.Sc., etc.

Post Graduation courses : Masters & Phd.

Professional Courses: Engg. , Medical, Agriculture , Veterinary, Law ,Dental, Management , Computer etc.

Computer certificate courses of reputed institutes accredited to Deptt. of *electronics or institutes affliated to university.

Courses like ICWA , CA , CFA etc.

Courses conducted by IIM, IIT, IISc , XLRI, NIFT, etc.

Courses offered in India by reputed foreign universities .

Evening courses of approved institutes.

Other courses leading to diploma / degree etc. conducted by colleges/ universities approved by UGC/ Govt/ AICTE /AIBMS/ ICMR etc.

Courses offered by National Institutes and other reputed private institutions. Banks may have the system of appraising other institution courses depending on the future prospects/recognition by user institutions.

(b) Studies Abroad :

Graduation For job oriented professional/technical courses offered by reputed universities.

Post Graduation MCA,MBA,MS etc.

Courses conducted CIMA-Londin, CPA in USA etc.

3.3 Expenses considered for Loan

Fee payable to College/School/hostel.

Examination/library/laboratory fee.

Purchase of books/equipments/instruments/uniforms.

Caution deposit/building fund/refundable deposit supported by institution bills/receipts.

Travel expenses/passage money for studies abroad.

Purchase of computers-essential for the completion of the course.

Any other expense required to complete the course- like study tours, project work, Thesis etc.

4. Quantum of Finance.

Need based finance subject to repaying capacity of the parents/students with margin and the following ceilings.

Studies in India - Maximum Rs. 7.50 lacs

Studies abroad - Maximum Rs. 15.00 lacs.

5. MARGIN

Upto Rs. 4.00 lac : NIL

Above Rs. 4.00 lac : Studies in India : 5%

Studies Abroad : 15%

Scholarship/assistantship to be included in margin.

Margin may be brought in on year to year basis as and when disbursements are made on a pro-rata basis.

6. OTHER CONDITIONS :

No due certificate need not be insisted upon as a pre-condition for considering educational loan. However, banks may obtain a declaration/an affidavit confirming that no loans are availed from other banks.

Loan applications have to be disposed of within a period of 15 days to 1 month, but not exceeding the time norms stipulated for disposing of loan applications under priority sector lending.

In order to bring flexibility in terms like eligibility, margin, security norms, banks may consider relaxation in the norms on a case to case basis delegating the powers to a fairly higher level authority.

Document Required for student Loan in india

A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.

Eligible Courses

All courses having employment prospects are eligible.

Graduation courses/ Post graduation courses/ Professional courses

Other courses approved by UGC/Government/AICTE etc.

Expenses considered for loan

Fees payable to college/school/hostel

Examination/Library/Laboratory fees

Purchase of Books/Equipment/Instruments/Uniforms

Caution Deposit/Building Fund/Refundable Deposit (maximum 10% tution fees for the entire course)

Travel Expenses/Passage money for studies abroad

Purchase of computers considered necessary for completion of course

Cost of a Two-wheeler upto Rs. 50,000/-

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

Amount of Loan

For studies in India, maximum Rs. 10 lacs

Studies abroad, maximum Rs. 20 lacs

Documentation Required

Completed Education Loan Application Form.

Mark sheets of last qualifying examination

Proof of admission scholarship, studentship etc

Schedule of expenses for the specified course

2 passport size photographs

Borrower's Bank account statement for the last six months

Income tax assessment order, of last 2 years

Brief statement of assets and liabilities, of the Co-borrower

Proof of Income (i.e. Salary slips/ Form 16 etc)

Gnanamitra Educational Loan in state bank of mysore

Purpose

To enable students with academic brilliance to meet tuition and other fees / maintenance costs / books and equipment and cost of passage for studies abroad etc., for pursuing studies at recognised school / college / institution.

Courses Eligible- Higher Studies

Diploma / Graduate / Post-graduate courses in the faculties of Engineering, Technology, Architecture, Medicine, Dental Science, Agricultural Science, Veterinary Science and Computer Certificate courses of reputed institutes accredited to department of electronics or affiliated to university.

INTEREST RATES: SCHEMES AND INTEREST RATES ARE SUBJECT TO CHANGES FROM TIME TO TIME.

Second Educational Loan

To enable the students for taking higher education, provided the student secures 60% marks in existing course. The second loan is to be availed only from the branch where the first educational loan has been sanctioned.

Repayment

Technical / Professional Higher studies in India / Abroad

Repayment of loan to commence immediately after disbursal, by the parent / guardian, out of his / her income. Instalments may be nominal (to cover interest portion, atleast) during the period the student is undertaking the studies. The instalments will be stepped up one year after the completion of the course or after the student gets a job, whichever is earlier, so that the loan gets repaid together with interest within a period of 60 to 84 months thereafter.

Insurance

An insurance policy will be taken on the life of the student borrower for an amount equivalent to the loan amount and the policy should be convertible whole-life one for 25 / 30 years, convertible after 5 years into one with endowment benefits. The Bank will pay the insurance premia on the policy by debiting it to the loan account. On liquidation of the loan, the policy will be reassigned and delivered to the borrower.

Repayment

Completion of course + 1 year or 6 months after getting a job, whichever is earlier.The interest to be debited monthly on simple basis during the repayment holiday / moratorium period. Penal interest @2% will be charged for amount above Rs. 2 lacs for the overdue amount and overdue period. Interest concession of 1% per annum is available, provided the interest is repaid during moratorium period as and when the interest is applied.

Gyan Jyothi Education Loan in state bank india

The scheme provides financial assistance to deserving meritorious students to pursue higher education in India and abroad.

PURPOSE

To meet the tuition and other fees\Examination\Library\Laboratory fee, cost of books\purchase of Computers\equipments\instruments\uniforms and the cost of passage for studies abroad. Caution Deposit, Building Fund, Refundable deposit subject to 10% of the Tuition Fee. Any other expenses required to complete the course like study, tours, project work, thesis etc. also be financed.

ELIGIBLE COURSES

Studies in India

a. Graduation courses, BA, B.Com, B.Sc, BBA, BCA, BBM.

b. Post Graduation Courses, Masters and Ph D.

c. Professional courses like Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.

d. Other courses leading to diploma, degree conducted by Colleges / Universities approved by UGC / Govt / AICTE / AIBMS / ICMR.

e. Courses offered by National Institutes and other reputed private institutions.

f. Courses offered in India by reputed foreign universities.

g. Computer Certificate courses of reputed institutes accredited by Department of electronics or institutes affiliated to Universities.

h ICWA, CA, CFA

i. Courses conducted by IIM, IIT, IISC, XLRI, NIFT etc.

j. Regular Degree / Diploma courses like Aeronautical, Shipping etc approved by Director general of Civil Aviation / shipping if pursued in India. It also to be recognised by local aviation, Shipping authority ( Pilot Training Course not included).

k. Evening courses of approved institutions.

l. Vocational Training and Skill development study courses. Distant / Offsite Education Programme not eligible for loan.

Studies abroad

Graduation: For job oriented professional\technical courses offered by reputed universities.

Post graduation: MCA, MBA, MS etc.

Courses conducted by CIMA – London, CPA in USA.

ELIGIBILITY

The student should be an Indian National (NRIs not eligible)

i) have secured admission to professional\technical courses through entrance test\ merit based selection process conducted by a Govt Agency / University

ii) have secured admission to foreign university institution.

Those who have not qualified through Entrance Test / Merit based selection procedure should have secured 50 % marks for general and 45% marks for SC / ST Candidates in the qualifying subjects, in the qualifying examination to be eligible for loan

EDUCATION LOAN in UCO Bank india

Scope:

The scheme extends a helping hand to meritorious students desirous of pursuing basic/higher/professional/technical education either in India or abroad. The parents will become co-borrowers with their dependant (student) if the latter applies for educational loan.

Studies in India

School education including plus 2 stage.

Graduation courses leading to degrees like B.A., B.Sc., B.Com. etc.

Post Graduate courses leading to Masters degrees as also Ph.D.

Professional courses in Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.

Computer Certificate courses of reputed institutes accredited to Universities or DoE.

Courses like ICWA, CA, CFA, etc.

Studies Abroad

Graduation : Job oriented professional / technical courses offered by reputed Universities.

Post Graduation : MCA, MBA, MS, etc.

Courses conducted by CIMA – London, CPA in U.S.A., etc.

Eligibility

Applicant must have secured admission to professional/technical course through Entrance Test/Selection Process.

Secured admission to foreign University / Institution.

No maximum or minimum income is prescribed for parents/family.

Age limit :

18 to 25 years for graduation course – may be extended from 28-30 years for general and SC/ST candidates respectively.

21 to 28 years for post-graduation course etc. – may be extended from 30 -33 years for general & SC/ST candidates respectively.

Quantum of loan

Need based finance subject to repaying capacity of parents/students with following ceilings :

Studies in India : Maximum Rs. 10.00 Lac

Studies Abroad : Maximum Rs. 20.00 Lac.

The loan amount under the scheme would be for meeting the following expenses :

Course Fees

Hostel/Boarding Fees including caution deposit/building fund etc.

Books, Stationery & Equipment required for the course, including Computers.

Examination/Library/Laboratory fees.

Travel Expenses/Passage for studies abroad.

Security

Upto Rs.4.00 lacs – No security

Above Rs.4.00 lacs – Collateral securities by way of suitable 3rd party guarantee or tangible security equivalent to loan amount.

Margin

Upto Rs. 4 Lac - Nil

Above Rs. 4 Lac Studies in India - 5%

Studies Abroad - 15%

Service Charge : There is no processing fee /no service charge

Studies in INDIA or Abroad with VIJAYA BANK INDIA

Studies in INDIA ( Indicative List )

Graduation courses : BA, B.Com., B.Sc., etc.

Post Graduation courses : Masters & Phd.

Professional Courses :Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer courses (BCA / MCA / BSc-CS, etc)

Animation /Cartooning/ multimedia/Graphic Designing, etc. where the course period should be one year and above & the courses conducted by reputed Institutions and the Institute to fulfil any of the following criteria:

(i) NASSCOM rated/certified

(ii) AICTE affiliated

(iii) Accredited to any UGC affiliated university in India

(iv) Affiliated to reputed Foreign Universities

Computer certificate courses of reputed institutes accredited to Dept., of Electronics or institutes affiliated to University.

Courses like ICWA, CA, CFA etc.

Courses conducted by IIM, IIT, IISc, XLRI.NIFT etc.

Pilot Training Programme. (Government or recognized private institute approved by Director General of Civil Aviation, Government of India).

Courses offered in India by reputed foreign universities.

Evening courses of approved institutes.

Other courses leading to diploma/ degree etc, conducted by colleges/ universities approved by UGC/ Govt/ AICTE/ AIBMS/ ICMR etc.

Courses offered by National Institutes and other reputed private institutions. Banks may have the system of appraising other institution courses depending on future prospects/ recognition by user institutions.

Studies Abroad

Graduation: For job oriented professional / technical courses offered by the reputed university.

Post graduation: MCA, MBA, MS, etc.

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

Pilot Training Programme offered by recognized institutions abroad approved by competent authority in that country. Example in USA the Federal Aviation Administration, Government of USA.

The licences issued by such institutions should be convertible into corresponding Indian Licences in case the applicant desires to take up employment in India after completion of course/ training abroad, as per directives of Director General of Civil Aviation, Government of India.

Expenses Considered for Loan

Fee payable to college/ school/ hostel.

Examination/ Library/ Laboratory fee.

Purchase of books/ equipments/ instruments/ uniforms.

Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipts.

Travel expenses/ passage money for studies abroad.

Purchase of computers – essential for completion of the course.

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

Issuance of DD favouring CET Cell

Fee payable to the Institution/hostel/examination fee, cost of books, travel expenses for studies abroad, purchase of computer, etc.

UNION EDUCATION PROVIDED BY UNION BANK OF INDIA

OBJECTIVE & PURPOSE

The scheme aims at providing financial assistance on reasonable terms:

To the poor and needy students that they may undertake basic education

To meritorious students that they may pursue higher or professional or technical education

ELIGIBILITY

The student applying for UNION EDUCATION Loan ought to:

Be an Indian National

Has secured admission to professional or technical courses through an appropriate Entrance Test or selection process

Has secured admission to a foreign University

Has passed an appropriate qualifying examination

Studies in India

School education up to +2

Graduation/Post-Graduation

Professional course

Management course

Special Education Loan Scheme for Students pursuing courses from approved institutions like IITs/IIMs/ /NIT XLRI/BITS/VIT/IISc/S.P. Jain Institute Of Management/Symbiosis Institute Of Management and T.S. Chanakya, Navi Mumbai- Nautical Science and MERI, Calcutta, Marine Engineering, MERI, Mumbai, Maritime Science.

Studies Abroad :

Graduation: For job-oriented professional or technical courses offered by reputed universities

Post-Graduation: MCA, MBA, MS and such other courses

Courses conducted by CIMA, London, CPA, USA., and such other institution

PURPOSE

To the poor and needy students to undertake basic education

To meritorious students to pursue higher or professional or technical education

CONDITIONS

The Parent/Guardian of the student who is availing loan from our bank shall be made co-obligator/joint borrower irrespective of the age of such students.

The Loan Accounts of students applying through college/institutions will be sanctioned/disbursed at the branch nearest to permanent residence/place of domicile of the borrower student.

Loan will be disbursed directly to the college/institute.

Student to produce mark list of previous term/semester before availing next installment.

Student /Parent to provide latest mailing address before availing next installment.

In case of parents with transferable job, new address to be provided before availing installments.

QUANTUM OF LOAN

Need-based finance subject to repayment capacity of the parent or student with margin and upto the following ceilings

For studies in India - Up to Rs. 10 lacs

For studies abroad - Up to Rs. 20 lacs

MARGIN

No margin for loans up to Rs. 4.00 lacs . However, for loan of higher amounts, the margin requirement is 5% for inland studies and 15% for studies abroad.

Scholarship/assistance to be included in margin.

Margin maybe brought in on pro-rata basis as and when disbursement is made.

REPAYMENT

Repayment holiday or Moratorium on loan: Course period + 1 year OR 6 months after job placement, whichever is earlier.

Starting from this point, the loan is to be repaid in 5-7 years after completion of course period/moratorium.

RATE OF INTEREST(w.e.f 01.04.2009)

For Male Student :

Up to Rs. 4.00 lakhs : 11.75% (Fixed)

Above Rs. 4.00 lakhs upto Rs.7.50 lakhs : 12.50% (Fixed)

Above Rs. 7.50 lakhs : 12.00% (Fixed)

For Female Student:

Up to Rs. 4.00 lakhs : 11.25% (Fixed)

Above Rs. 4.00 lakhs upto Rs.7.50 lakhs : 12.00% (Fixed)

Above Rs. 7.50 lakhs : 11.50% (Fixed)

For Special Education Loan Scheme :

Special scheme For IIM students : 10.50% for Male

: 10.25 % for Female

Special Scheme for BSc in Nautical Science,Marine Engg,Maritime Science : 11%

Special Scheme IIT/NIFT students: 10.50% for male

: 10.25% for Female

Special Scheme for XLRI.BITS/VIT/IISC/SYMBOISIS/SP JAIN/NIT : 11.00%

Special Scheme for students of ISB(Indian School of Business) only for Hyderabad :

10.50% for male

10.00% for Female

Special scheme for students of Asian Institute of Management : 11.00%

Simple interest will be calculated during repayment holiday/moratorium period.

Interest rate is fixed and will not undergo any change till the loan amount is repaid in full.

PROCESSING CHARGES

NIL

SECURITY

Upto Rs. 4 lakh : No security

Above Rs 4 Lakh & upto Rs 7.5 lakh : a suitable third party / personal guarantee

However for loans above Rs 7.5 lakh, Collateral security of suitable value along with co-obligation of parents / guardian / third party / accompanied by assignment of future income of student for the payment of installments is required

A Life insurance policy from Insurance company for a sum not less than the loan amount is required to be taken in the name of the student and duly assigned in favour of Union Bank.

OTHER CONDITIONS

Loans can be considered for eligible students in case they approach the Bank in the subsequent year of the commencement of the course.

Branches can issue Bank Guarantee, for payment seats wherever required.

No Prepayment penalty if the loan is adjusted by the borrower from his own verifiable legitimate sources or genuine sale. However, 2% charged on an average o/s. balance of last 12 months if loan is closed on take over by other Banks / Financial Institutions

The Loan Accounts of students applying through college/institutions will be sanctioned/disbursed at the branch nearest to permanent residence/place of domicile of the borrower student.

No Pre-Payment penalty for self-closure. However, 2% charged on an average o/s. balance of last 12 months if loan is closed on take over by other Bank/FIs