After finishing Class 12, many students in Odisha dream of going to college or studying professional courses like engineering, medicine, law, or management. But studying further can cost a lot of money. College fees, books, hostel rent, travel, and other expenses can be too high for many families in the state. That’s why getting a study loan in Odisha after 12th can be a smart solution to manage the rising cost of higher education. It helps students continue their education without putting too much financial pressure on their parents.
A study loan (also called an education loan) is money that a bank or financial company gives to students to help pay for their higher studies. The student (or their parents) agrees to return this money later, usually after the course is over and the student starts earning.
Many students take study loan for students in Odisha after 12th standard because they want to study in top colleges in India or abroad, but their parents can’t afford the full cost, so education loans help them focus on learning instead of worrying about money.
In Odisha, students can get loans from both government and private banks. The Odisha government also has its own scheme called the Kalinga Sikhya Sathi Yojana, which offers loans at a low study loan interest rate in Odisha.
The cost of education is increasing every year. Private colleges and universities charge several lakhs of rupees in fees. Even government colleges have fees and other expenses. Many parents work hard but still find it difficult to pay for everything.
Instead of giving up your dream, a study loan after 12th gives you a chance to continue your education and build a better future. If you’re a girl, there are also special benefits available under some schemes offering a study loan in Odisha after 12th for girl applicants.
This guide will help you understand how to get a study loan in Odisha after 12th — what you need, where to apply, and how the process works.
Eligibility Criteria for Study Loan in Odisha After 12th
To get an education loan by government banks or private institutions in Odisha, there are some basic conditions you must follow. These are called study loan in Odisha after 12th eligibility criteria, and they help the bank or government decide if you are ready for a loan. Let’s look at them in simple words.
First, let’s talk about age limit and academic qualifications. You must be an Indian citizen and usually between 16 and 35 years old when applying. You also must have passed your 12th standard (Higher Secondary) from a recognized board like CBSE, ICSE, or Odisha State Board. This shows that you have completed your school studies and are now ready for college or a professional course.
Next is about minimum marks and course type. Most banks ask that you have scored at least 50% to 60% marks in your 12th exams. This means you need to be a good student. The better your marks, the easier it is to get the loan. Also, the course you want to study should be a professional or technical course — like engineering, medicine, law, nursing, management, or computer science. Banks want to support students who are choosing career-focused courses that help them get jobs in the future.
Finally, the college or institution you select should be officially recognized. This means your college should be approved by government bodies like AICTE, UGC, or MCI. Banks will not provide loans for courses from unknown or fake institutions. So before applying, always check if your chosen college is listed as a recognized one.
These three things — your age and education level, your marks and type of course, and the approval of your college — are very important. If you meet all of them, you are ready to move forward and apply for a study loan.
Types of Study Loans Available in Odisha
Students can choose from various types of loans depending on their needs. Whether it’s a study loan in Odisha SBI, private bank, or government scheme, the options are broad. In Odisha, students who want to study after 12th but need money for college have different types of study loans to choose from. These loans help cover tuition, books, hostel fees, and other education expenses. Let’s understand the main types in easy words.
One common type is the government education loan. The Indian government has created a website called the Vidya Lakshmi Portal, where students can apply for study loans from many banks in one place. It’s safe and free to use. You just create an account, fill in your details, and choose the banks you want to apply to. The Odisha government also has its own scheme called Kalinga Sikhya Sathi Yojana. This special loan is for students from Odisha, and the best part is — the interest rate is very low (just 1%).
The second type is a bank education loan. Many government and private banks such as SBI, Canara Bank, Axis Bank, and PNB provide loans to students that cover college fees and other expenses. You can apply for these loans either by visiting the bank or using their website. Each bank has slightly different rules, interest rates, and loan amounts. Some banks even offer lower interest rates if your course is in a government college or you score good marks.
The third type is from NBFCs and private loan providers. NBFC means Non-Banking Financial Company. Some popular ones are HDFC Credila, Avanse, and InCred. They give loans faster and can offer more money, especially if you’re planning to study abroad. But their interest rates are often a little higher than banks. Still, they can be helpful when bank loans are not enough.
Each type of loan has its own benefits. You should look at them closely and pick the one that fits your needs the best. Whether it’s from the government, a bank, or a private company, all these loans are here to help you follow your dreams.
Top Banks Offering Study Loans in Odisha
In Odisha, top banks such as SBI (study loan in Odisha SBI), Canara Bank, PNB, and others offer helpful student loan schemes. Whether you’re exploring study loan in Odisha after 12th apply online or through a bank branch, SBI is a reliable choice.
Many students want to study in good colleges after finishing their 12th class. But college can be expensive. This is why banks provide education loans to assist students with their tuition and other expenses. Let’s learn about some of the top banks and companies that give education loans in Odisha.
SBI(State Bank of India) gives education loans to students who want to study in India or also outside of India. They have a loan program named the SBI Student Loan Scheme. The interest rates are low, and they give loans for many courses like engineering, medicine, MBA, and more. They even have a special loan for students going to top universities.
Another popular bank is Canara Bank. This bank supports students through its Vidya Turant and IBA Model Education Loan schemes. These loans cover course fees, books, travel, and hostel charges. Canara Bank also supports the Vidya Lakshmi Portal, which helps students apply online easily.
Punjab National Bank (PNB) is also a good choice for study loans. PNB gives loans up to ₹7.5 lakhs without needing a security, and more if needed with some form of guarantee.
For students who want faster loan approval or need a bigger amount, HDFC Credila is a good option. It is not a regular bank, but a Non-Banking Financial Company (NBFC) that gives loans only for education. They offer flexible repayment options and loans for many Indian and foreign universities.
In some parts of Odisha, the Odisha State Co-operative Bank also gives education loans. This bank supports local students and may offer loans with help from state schemes. Not all branches may provide this, so it’s best to check with your nearby branch.
Each bank has its own rules, interest rates, and benefits. It’s smart to compare them and choose the one that best fits your education plan.
Documents Required for Applying for a Study Loan
When you apply for a study loan, the bank or loan company wants to know who you are, what you’ve studied, and if you can pay the loan back in the future. To do this, they ask for some important documents. These papers help the bank trust you and make a decision faster.
To start, you must submit documents that confirm your name and where you live. You can use documents like your Aadhaar card, PAN card, voter ID, or passport. These help prove your identity and address.
Next, you must give your academic certificates, especially your 10th and 12th mark sheets. These help the bank see how well you’ve studied and which subjects you took. Good marks can improve your chances of getting the loan approved quickly.
Another very important paper is the admission letter from the college or university. This letter proves that you have been selected for a course and are ready to start. Without this, the bank won’t release the loan.
The bank also asks for income proof of your parents or guardians. This can include salary slips, income certificates, or income tax returns. The bank wants to make sure that your family can help support the loan in case you can’t pay right away.
Lastly, bank statements of your parents or guardians (usually last 6 months) are required. These show how money comes in and goes out of their account, which helps the bank check their financial health.
If you collect and organize these documents properly, the loan process becomes much easier. Always keep photocopies and originals ready and carry them in a folder when visiting the bank.
Step-by-Step Process to Apply for a Student Loan
Getting a study loan in Odisha is easier when you follow the right process. Whether you’re learning how to get education loan after 12th through a bank, NBFC, or state scheme, the steps remain the same.
The first step is to choose the right loan provider. You can take a loan from a bank, an NBFC (like HDFC Credila), or through government schemes. Compare interest rates, repayment time, and benefits. If you want low-interest loans, check out the Kalinga Sikhya Sathi Yojana or use the Vidya Lakshmi Portal to compare different banks in one place.
Next, collect all the required documents. This includes your Aadhaar card, PAN card, 10th and 12th mark sheets, admission letter from the college, income proof of your parents, and their bank statements. Keep both original and photocopies ready in a folder.
The third step is to fill out the loan application form. You can do this online (through the bank’s website or Vidya Lakshmi Portal) or offline by visiting the bank. Fill in your name, course details, college name, fee structure, and other personal information carefully.
In the fourth step, you need to submit the form along with the documents. If you applied online, you may be asked to upload scanned copies.
The fifth step is when the bank reviews your papers, looks at your grades, checks your college details, and understands your family’s money situation. If everything looks good, the loan is approved. Sometimes, they may call you or your parents for a short meeting or to answer questions.
The last step is when the loan amount is released to cover your education expenses. After approval, the money is sent directly to your college’s bank account to pay the fees. Some part may also be given to you for buying books or living expenses.
Government Schemes for Students in Odisha
Schemes like the education loan by government (Kalinga Sikhya Sathi Yojana) and central interest subsidy help students fulfil their dreams without worry. If you’re applying in 2025 but searching old schemes, be aware that study loan in Odisha after 12th 2021 data may differ from current offers.
In Odisha, the government wants to help students who want to study more after completing their 12th class but cannot afford the high fees. To support them, both the Odisha state government and the central government have created special schemes and tools to make getting a study loan easier and cheaper.
The Kalinga Sikhya Sathi Yojana is a popular scheme in Odisha, launched by the state government to support students from low and middle-income households. This scheme allows students to borrow up to ₹10 lakhs for pursuing their education either in India or in another country. The best part is that the interest rate is only 1%, which is very low compared to regular bank loans. The government covers the remaining interest, making it easier for students to finish their higher studies without causing financial stress to their families.
Along with this, the central government also offers education loan subsidy schemes. These are helpful for families with low income. One example is the Central Sector Interest Subsidy Scheme, where the government pays the full interest on your education loan while you are still studying. This means you don’t have to worry about paying anything until after your course is over. These schemes usually have rules, such as your family’s income must be less than ₹4.5 lakhs per year.
To make the loan process easier, there is a special website called the Vidya Lakshmi Portal. It was created by the central government. On this website, you can fill out one form and apply to multiple banks for a loan at the same time. You can also track your loan application and see which bank is offering what.
These government schemes are made to make sure no student in Odisha has to stop studying just because of money. If you are serious about your studies, these programs can help you follow your dreams.
Tips to Get Quick Approval for Your Study Loan
If you want to get your study loan approved fast, you need to follow a few smart steps. These tips can help you avoid delays and make the bank trust you more easily.
The first and most important tip is to maintain a good academic record. This means you should try your best to score well in your 10th and 12th exams. When banks see that you are a serious and hardworking student, they feel more confident in giving you a loan. Even if your marks are average, showing improvement and consistency can help.
It’s also very important to choose a government-recognized course and college. Banks only give loans for approved colleges and universities. Choosing a fake or unapproved college can lead to loan rejection. That’s why it’s important to check if your course is approved by UGC, AICTE, or any government body.
Bonus tip: Keep all your documents ready and clear. If your papers are neat, correct, and complete, the bank will take less time to verify them.
By following these simple tips — doing well in school, applying early, and picking the right course — you can increase your chances of getting a loan quickly and without stress. It’s all about being prepared and showing the bank that you are ready to study and succeed.
Conclusion
Getting a study loan in Odisha after 12th may sound like a big step, but if you follow the right process, it becomes simple and achievable. Start early, gather your documents, and check the study loan in Odisha after 12th eligibility requirements. Use trusted platforms like the Vidya Lakshmi Portal for a smooth study loan in Odisha after 12th apply online experience.
Whether you’re looking for a study loan in Odisha SBI or other providers, multiple options are available — both government and private. Remember, lack of money should never stop you from dreaming big. A study loan is just a helpful bridge that connects you to your future. Believe in yourself, plan smartly, and take that step forward with confidence!