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EDUCATION LOAN – STUDY IN INDIA/ABROAD/NRI STUDENTS Union Education Special Scheme For Abroad Studies (UNION EDUCATION PREMIER ABROAD)

  • Modification in margin norms
  • Revised list of institutes / courses covered under the scheme

  • Attention of all offices / branches is invited to IC No.03414:2022 dated 08.07.2022, vide which Special Union Education Loan Scheme for Abroad Studies (UNION EDUCATION PREMIER ABROAD) was circulated.
  • Further as per IC No.3744:2022 dated 09.12.2022; scheme details are incorporated in Union Education Master Circular along with the list of institutes and courses covered under the scheme.
  • The competent committee has approved following modifications in margin norms under the scheme.

Feature

Existing

Revised

Margin

15% - Irrespective of Loan Amount

Up to Rs.4.00 lakh: – NIL

Above Rs.4.00 lakh to Rs.40.00 lakh: – 15%

Above Rs.40.00 lakh to 150.00 lakh: -

If minimum 100% collateral security is offered by the borrower margin

shall be NIL and Rs.10,000/- to be collected as processing charges.

In all other cases 15% margin and minimum 50% collateral security

 

shall be obtained from borrower.

Note:

Collateral coverage of the loan will be decided on principal loan

amount and interest accumulation during course and moratorium

period.

Any  scholarship  component  received  by  the  students  has  to  be

credited to education loan account. An undertaking to this effect shall

be obtained from the applicant.


  • Further the competent committee has approved new revised list of institutes/ universities /colleges with respective courses covered under the scheme as mentioned in the annexure of the circular and branches to refer this list from 1st June’2023 onwards.
  • Rate of interest, security & all other terms and conditions of the scheme remain unchanged as per IC No.3744:2022 dated 09.12.2022.
  • The scheme in LAS is “SPECIAL UNION EDUCATION LOAN SCHEME FOR ABROAD STUDY (scheme code: EL011).

All branches / offices are requested to take a careful note of the above and ensure maximum canvassing of business under the scheme.

Annexure:

IC No.04117:2023 dated 31/05/2023

List of Institutes/Universities/colleges & courses covered under Union Education Premier Abroad Scheme:


Sr. No.

Name of College/ University / Institute 

Country

List of Courses 

1.

Harvard University

USA

Medical, Law, Economics & Econometrics, Art, Performing Arts, Design, STEM, Management Courses and Public Policy.

2.

Stanford University

USA

Management Courses, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Medical.

3.

Massachusetts Institute of Technology

USA

STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, Management Courses, and Medical.

4.

University        of       California

Berkeley

USA

Management Courses, Law, Economics & Econometrics, Art, Performing Arts, Design, STEM and Medical Courses.

5.

University of Oxford

UK

Medical Courses, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design Management and All other Courses.

6.

University of Michigan

USA

Management, Law, Economics & Econometrics, Art, Performing, Arts, Design, STEM and Medical Courses

7.

University of Washington

USA

Medical Courses, STEM, Law, Economics &

Econometrics, Art, Performing Arts, Design, and Management

8.

Cornell University

USA

Management, Law, Economics & Econometrics, Art, Performing Arts, Design, STEM and Medical Courses

9.

Columbia University New York

USA

Medical,       STEM,      Law,       Economics        &

Econometrics, Art, Performing Arts, Design, and Management

10.

Johns Hopkins University

USA

Medical,       STEM,      Law,       Economics        &

Econometrics, Art, Performing Arts, Design, and Management

11.

University of Pennsylvania

USA

Medical,       STEM,      Law,       Economics        &

Econometrics, Art, Performing Arts, Design, and Management 

12.

University of Cambridge

UK

Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, Management and All other Courses.

13.

University of California Los Angeles UCLA

USA

Medical,       STEM,      Law,       Economics        &

Econometrics, Art, Performing Arts, Design, and Management 

14.

Yale University

USA

Medical,       STEM,      Law,       Economics        &

Econometrics, Art, Performing Arts, Design, and Management 

15.

UCL       University        College

London

UK

Medical,       STEM,      Law,       Economics        &

Econometrics, Art, Performing Arts, Design, and Management 

16.

University of Toronto

Canada

Medical,       STEM,      Law,       Economics        &

Econometrics, Art, Performing Arts, Design, and Management 

17.

University of California San Diego

USA

Medical,       STEM,      Law,       Economics        &

Econometrics, Art, Performing Arts, Design, and Management 

18.

University           of             Minnesota System

USA

Medical, STEM and Management 

19.

Pennsylvania State University

USA

Management and STEM

 

20.

University       of      Wisconsin

Madison

USA

Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, Management and Public Affairs. 

21.

Duke University

USA

STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, Management, Medical, and Public Affairs.

22.

Northwestern University

USA

Medical,       STEM,      Law,       Economics       &

Econometrics, Art, Performing Arts, Design, and Management 

23.

New York University

USA

Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, Management and Public Service.

24.

Tsinghua University   

China

Medical and STEM 

25.

University of Texas Austin

USA

Medical,       STEM,      Law,       Economics       &

Econometrics, Art, Performing Arts, Design, and Management 

26.

Princeton University

USA

Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, Management and Public Affairs.

27.

University of British Columbia

Canada

Medical,       STEM,      Law,       Economics       &

Econometrics, Art, Performing Arts, Design, and Management 

28.

University of North Carolina Chapel Hill

USA

Medical, STEM, Management, Law and Medical

29.

University of Chicago

USA

Medical,       STEM,      Law,       Economics       &

Econometrics, Art, Performing Arts, Design,

Management and Public Studies

30.

Swiss Federal Institute of Technology Zurich

Switzerlan d

 STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management 

31.

University       of       Southern

California

USA

Medical, STEM and Management 

32.

Peking University  

China

Medical,       STEM,      Law,       Economics       &

Econometrics, Art, Performing Arts, Design, and Management 

33.

University of Illinois Urbana Champaign

USA

STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, Management and Medical.

34.

Imperial College London

UK

Medical, STEM and Management 

35.

University of Florida

USA

Medical, STEM Management and Law

36.

Ohio State University

USA

Medical, STEM and Management 

37.

University of California Davis

USA

Medical, STEM Management and Law

38.

University of California Irvine

USA

Medical, STEM and Management 

39.

University of California San Francisco

USA

STEM 

40.

University of Melbourne

Australia

Medical,       STEM,      Law,       Economics       &

Econometrics, Art, Performing Arts, Design, and Management 

41.

University of New South

Wales

Australia

Medical, STEM, Management and Law

42.

Washington University Saint Louis

USA

Medical,       STEM,      Law,       Economics       &

Econometrics, Art, Performing Arts, Design, and Management 

43.

University       of       Maryland

College Park

USA

STEM and Management

44.

University of Edinburgh

UK

Medical,       STEM,      Law,       Economics       &

Econometrics, Art, Performing Arts, Design, and Management 

45.

Purdue University

USA

STEM, Management and Medical

46.

University of Pittsburgh

USA

Medical, STEM, and Management 

47.

National        University        of

Singapore

Singapore

Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design and Management. 

48.

Michigan State University

USA

STEM and Management 

 

49.

Carnegie Mellon University

USA

STEM, Law, Economics & Econometrics, Art, Performing, Arts, Design and Management.

50.

University of Sydney

Australia

Medical, STEM and Management 

51.

Rutgers The State University of New Jersey

USA

STEM and Management 

52.

University of Queensland

 

Australia

Medical, STEM and Management 

53.

Texas A&M University

 

USA

STEM and Management 

54.

University of Arizona

 

USA

Management and STEM 

55.

Arizona State University

 

USA

STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management 

56.

Boston University

 

USA

Medical, STEM, Management and Law 

57.

Monash University

 

Australia

Medical, STEM and Management 

58.

Vanderbilt University

 

USA

Medical, STEM and Management 

59.

California        Institute Technology Caltech

of

USA

STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management 

60.

McGill University

 

Canada

Medical, STEM and Management 

61.

University of Manchester

 

UK

Medical, STEM and Management 

62.

Georgia           Institute Technology

of

USA

STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management 

63.

University of Utah

 

USA

STEM 

64.

University of Virginia

 

USA

Management, STEM, Law and Medical 

65.

Utrecht University 

 

Netherlan d

Medical, STEM and Management  

66.

University of Tokyo 

 

Japan

Medical and STEM 

67.

King's College London

 

UK

Medical,         STEM,      Law,       Economics        &

Econometrics, Art, Performing Arts, Design, and Management 

68.

Zhejiang University (National Che KiangUniversity) 

China

STEM 

69.

Universidade de São Paulo USP

Brazil

STEM

70.

Shanghai Jiao Tong University 

China

STEM and Management 

71.

University of Alberta

Canada

Medical, STEM and Management 

72.

Emory University

USA

Management, STEM, Law and Medical 

73.

University of Amsterdam 

Netherlan d

Medical and STEM 

74.

University of Copenhagen  

Denmark

Medical  

75.

University of Hong Kong

Hong Kong

STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, Management and Medical 

76.

University of California Santa Barbara

USA

STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management 

77.

North           Carolina          State

University

USA

STEM and Management 

78.

Katholieke                 Universiteit

Leuven (KU Leauven)

Belgium

STEM and Medical

79.

Australian National University

Australia

Medical, STEM, Management and Law 

80.

Brown University

USA

Medical, Law, Economics & Econometrics, Art,

Performing Arts, Design, Management and STEM

81.

Chinese University of Hong Kong

Hong Kong

Medical, STEM and Management 

82.

University of Iowa

USA

STEM  

83.

Virginia Polytechnic Institute and State University

USA

STEM 

84.

University of Groningen 

Netherlan d

Medical, STEM and Management

85.

University of Waterloo

Canada

STEM and Management  

86.

Technische       Universität München

Germany

STEM 

87.

Nanyang               Technological

University

Singapore

STEM and Management 

88.

University of Leeds

UK

STEM and Management 

 

89.

École Polytechnique Fédérale de Lausanne

Switzerlan d

STEM

90.

Universität Zürich

Switzerlan d

Medical,       STEM,      Law,       Economics       &

Econometrics, Art, Performing Arts, Design and Management 

91.

University of Helsinki 

Finland

STEM

92.

University of Calgary

Canada

Medical, Management and STEM 

93.

Delft          University           of

Technology TU Delft

Netherlan d

STEM, Medical, Design, Management 

94.

University of Oslo 

Norway

STEM

95.

Indiana                    University

Bloomington

USA

STEM and Management 

96.

University of Adelaide

Australia

STEM, Management and Medical

97.

University of Massachusetts Amherst

USA

STEM and Management 

98.

University of Illinois Chicago

USA

Medical, STEM, Law, Art, Performing Arts, Design and Management

99.

Kyoto University 

Japan

Medical and STEM  

100.

Ghent          University          /

Universiteit Gent

Belgium

STEM and Medical

101.

Lowa State University

USA

STEM, Management, Law and Medical

102.

University of Nottingham

UK

Medical,       STEM,      Law,       Economics       &

Econometrics, Art, Performing Arts, Design and Management

103.

Aarhus University / Aarhus Universitet

Denmark

STEM, Management, and Medical

104.

Ruprecht Karls Universität Heidelberg

Germany

STEM, Management, and Medical

105.

Colorado State University

USA

STEM and Management

106.

University       of       Maryland

Baltimore

USA

STEM, Management, Law and Medical. 

107.

University of Rochester

USA

STEM and Management 

108.

Universitat de Barcelona

Spain

STEM, Law, Economics & Econometrics, Art, Performing Arts, and Management

109.

Università di Bologna (Università degli Studi di

Bologna)

Italy

 

STEM, Law, Design, Economics & Econometrics, Art, Performing Arts, Medical and Management

110.

Tufts University

USA

Medical, STEM and Management 

111.

University of Warwick

UK

STEM, Law, Economics & Econometrics, Art, Performing Arts, Medical and Management

112.

City University of New York

USA

Medical, STEM and Management 

113.

Bristol University

UK

STEM, Law, Design, Economics & Econometrics, Art, Performing Arts, Medical and Management

114.

Oregon State University

USA

Medical, STEM and Management

115.

University        of        Western

Australia

Australia

STEM, Management and Medical

116.

University of Georgia

USA

STEM, Management & Medical

117.

University of South Florida

USA

STEM, Law, Design, Economics & Econometrics, Art, Performing Arts, Medical and Management

118.

Università degli Studi di Roma La Sapienza

Italy

Medical, STEM and Management

119.

University of Sheffield

UK

STEM, Design, Medical and Management

120.

   Lund University       /    Lunds

Universitet

Sweden

STEM, Design, and Management

121.

University of Hawaii System

USA

STEM, Management and Medical

122.

Uppsala University / Uppsala Universitet

Sweden

 

STEM, Law, Design, Economics & Econometrics, Art, Performing Arts, Medical and Management

123.

University of Miami

USA

STEM, Management and Medical

124.

VU University of Amsterdam /  Vrije Universiteit Amsterdam

Netherlan

d

 

STEM, Management and Medical

 

125.

University at Buffalo

USA

STEM, Law, Design, Economics & Econometrics, Art, Performing Arts, Medical and Management.

126.

University of Tennessee -

Knoxville

USA

STEM, Management and Law

127.

Newcastle                  University

Newcastle upon Tyne

UK

STEM, Management and Medical

128.

Florida State University

USA

STEM, Management and Medical

129.

George Washington University

USA

STEM and Management

130.

Queen Mary University of London

UK

STEM and Management

131.

Case       Western         Reserve

University

USA

STEM, Management and Law

132.

Rice university

USA

STEM and Management

133.

London School of Economics and Political Science

UK

Medical, STEM, Law and Management

134.

Dartmouth college

USA

STEM, Management and Medical

135.

Northeastern University

USA

STEM, Management and Law

136.

Temple University

USA

STEM, Management and Law

137.

Cardiff University

UK

STEM and Management

138.

Deakin University

Australia

STEM and Management

139.

George Mason University

USA

STEM and Management

140.

Macquarie University

Australia

STEM and Management

141.

RMIT University

Australia

STEM and Management

142.

Simon Fraser University

Canada

STEM and Management

143.

Queen's university - Kingston

Canada

STEM and Management

144.

University of Montreal

Canada

STEM and Management

145.

York University

Canada

STEM and Management

146.

Freie Universität Berlin

Germany

STEM 

147.

KIT, Karlsruher Institut für Technologie

Germany

STEM

148.

Humboldt-Universität             zu

Berlin

Germany

STEM

149.

Ludwig-Maximilians                 –

Universität München

Germany

STEM

150.

University of Ottawa

Canada

STEM and Management

151.

Georgia State University

USA

STEM and Management

152.

IMD         Business          School,

Lausanne

Switzerlan d

Management 

153.

IE Business School, Madrid 

Spain

Management 

154.

London      Business        School,

London 

UK

Management 

155.

City Univ- Cass Business

School, London 

UK

Management 

156.

INSEAD       Business         School

France/ Singapore

France

Management 

157.

Rotterdam         School          of

Management

Netherlan ds

Management

158.

SDA      Bocconi      School       of

Management, Milan

Italy

Management 

159.

IESE        Business          School,

Barcelona 

Spain

Management 

160.

Warwick      Business       School

(University of Warwick)

UK

Management 

 

List of Institutes under Special Education Loan Schemes Tier I Premium Management and Technical Institutes: (Scheme Code- EL008): (Refer IC No.04006:2023 dated 05/04/2023)

  • Category ‘A’ Institutes:
  • Category ‘B’ Institutes:
  • Tier II Management & Technical Institutes: (Scheme Code – EL008)
  • Union Medicos: Premier Medical Institutes (Scheme code- EL010):
  • Union Education Premier Abroad: (Scheme Code: EL011):