Under CGFSEL, default in education loan is covered if the loan limit is ₹7.5 lakh without any collateral security and third-party guarantee. At present, the fund extends guarantee cover against default in education loans sanctioned by public, private and foreign banks.source https://economictimes.indiatimes.com/industry/banking/finance/banking/regional-rural-banks-too-may-get-cover-for-education-loans/articleshow/94311274.cms
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