RBI RULES FOR FUNDING FOREIGN EDUCATION..!

For studies abroad, the estimate received from the institution abroad or / $ 1,00,000 per academic year, whichever is higher, may be availed.


Students going abroad for studies are treated as Non-Resident Indians (NRIs) and are eligible for all the facilities available to NRIs under the Foreign Exchange Management Act, 1999.

 Educational and other loans availed of by students as residents in India can be allowed to continue.

A student holding an NRO (non-resident ordinary savings) account may withdraw and repatriate up to $ 1 million per financial year from his / her NRO account.


The student may avail of an amount of $ 10,000 or / its equivalent for incidental expenses, of which $ 3,000 or its equivalent may be carried in the form of foreign currency while going for study abroad.
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