Scholarships are one of the best ways to fund and reduce the overall cost of your higher education in foreign countries. To attract some of the brightest minds, governments and foreign universities across the globe offer various scholarships to deserving students. Right from partially funded scholarships, country-specific scholarships, and course-specific scholarships to fully funded scholarships, students can apply for as many numbers of scholarships as possible according to their overall profile.

In this article, you will get to know about some of the popular scholarships to study overseas with respect to the race and religion of the students.

The government of India has introduced multiple scholarships to study abroad for Indian students and support them in pursuing their higher education.

Listed below are some of the popular scholarships and Interest subsidy schemes offered by the Indian Government for aspiring students. Keep reading to find out their details.

Popular Indian Government Scholarships for Studying Abroad

Some of the notable Indian Government scholarships for studying abroad are listed below:

National Overseas Scholarship for Scheduled Caste Students

• Scholarship Value: Fully Funded
• Level of Study: Master’s Degree & PhD
• Application Deadline: Varies Every Year
  

Eligibility Criteria & Other Details:

To be eligible to apply for this scholarship, a student should fulfil the given criteria:

• Academic score of at least 60% in the last qualifying examination.
• Age should not be more than 35 years of age.
• Annual family income should not exceed 8 lakhs.
• Applicant must have an unconditional admission offer at any of the Top 500 ranked Universities as per QS World University Rankings.

Every year more than 100 scholarships are awarded to students belonging to Scheduled Castes, Denotified Nomadic and Semi-Nomadic Tribes, Landless Agricultural Labourers and Traditional Artisans for pursuing their higher education abroad.

National Overseas Scholarship for Scheduled Tribes Students

• Scholarship Value: Fully Funded plus Living Allowance
• Level of Study: Master’s Degree, PhD & Post-Doctoral
• Application Deadline: Varies Every Year
  

Eligibility Criteria & Other Details:

To be eligible to apply for this scholarship, a student should fulfil the given criteria:

• Applicant must belong to the Schedule Tribe or Vulnerable Tribal Groups (PVTGs).
• Applicant must be enrolled in a foreign University within 2 years of receiving this scholarship.
• Annual family income should not exceed 6 lakhs.

The Government of India awards this scholarship to 20 students. The final decision for this scholarship is based on a personal interview with the panellists.

These were the popular scholarships offered by the Indian government. Additionally, the government also supports education loans to study abroad by offering interest rate subsidies. Let’s have a glance at them.

Government Interest Subsidy on Education Loan

Apart from the scholarship offerings, the Government also provides interest subsidies for certain categories of applicants. Given below is one of them:

Dr Ambedkar Central Sector Scheme of Interest Subsidy on Education Loan for OBCs and EBCs

The government of India introduced this Central Sector Scheme for students belonging to Other Backward Classes (OBCs) and Economically Backward Classes (EBCs).

This scheme provides students with an interest subsidy based on the interest payable for the period of the moratorium for the overseas education loan. Only students who have secured admission in the approved courses for Masters, M.Phil or PhD levels can apply for this subsidy.

So, these are the few scholarships available for aspiring students who are willing to pursue their higher education in foreign countries. Now a days, with a plethora of funding options available for your higher studies, your dream of studying abroad can be fulfilled. Apart from government scholarships, there are a number of foreign universities offering scholarships for higher education.

Do thorough research to find out which scholarship is suitable for your academic profile and submit the application. Furthermore, you should be prepared with alternative funding sources if you are unable to get a scholarship. Team Élan is here to help in this regard. For any kind of assistance for overseas education loan and their application process, visit us in the office or virtually.

FAQs

• How much is the scholarship value of the National Overseas Scholarship for Scheduled Caste Students?
  National Overseas Scholarship for Scheduled Caste Students is a fully funded scholarship.
• Is a National Overseas Scholarship for Scheduled Caste Students for a Bachelor's Degree?
  No, it is only for Master’s Degree and PhD pursuing applicants.
• What is an Interest Subsidy Scheme by the Indian Government?
  This scheme provides a subsidy on paying education loan interest during the study tenure.
• Is the Dr Ambedkar Central Sector Scheme of Interest Subsidy on Education Loan only for OBCs?
  No, this scheme is for students belonging to Other Backward Classes (OBCs) as well as for Economically Backward Classes (EBCs).
• What is the acceptable family income for the National Overseas Scholarship for Scheduled Tribes Students?
  A total family income of 6 lakhs per annum is acceptable for applicants.