Studies Abroad

What are the criteria for release of foreign exchange for studies abroad?
Students holding Indian passports and who have secured admission in overseas college/university/educational institution are eligible for release of exchange for studies abroad. Students securing articleship offered by firms of Chartered Accountants in the U. K. are also eligible for the facility.

Can a student desiring to go abroad for school education get foreign exchange?
Yes.

What is the procedure for drawal of exchange for studies abroad?
The student should apply to an authorized dealer in form TRS alongwith his passport, original certificates (along with certified copies) of educational qualifications, syllabus, details of the course of study, tuition fee payable, etc., as also the letter of admission (original as well as certified copy) received from the foreign university/institution indicating the date of commencement of course, degree/diploma it leads to and the duration of the course.

What is the quantum of foreign exchange released for this purpose?
USD $30,000/- or as per the estimation of tuition fees, Maintenance Expenses etc. given by the university whichever is higher.

What is the total duration for which exchange is released?
Exchange is released for the actual duration of the course as certified by the overseas university/institution.

Can a student who had earlier gone abroad for prosecuting studies without availing of exchange draw exchange for the balance period of studies?
Yes, provided he holds an Indian passport and produces appropriate documentary evidence, indicating that he is continuing studies abroad.