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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