This government patronized National Loan Scholarship Scheme proved to be a failure when assessed in terms of recovery of loans. Also, the profitable extremity facing Government of India in the early nineties needed the winding up of the scheme. Hence, it was dropped in the early of the nineties. At the same time, it was realized that an analogous type of educational loan scheme was needed to buffer the impact of rising stoner- charges in India. Consequently, a new scheme of education loans, videlicet, Education Loan Scheme, was started. The main tenet of the scheme was its profitable viability. Still, it’s frequently blamed that marketable banks are partial- hearted in furnishing educational loans, especially to the socially and economically backward sessions in the society, who are the main target group under this scheme. Utmost of the meritorious scholars are denied an occasion to pursue higher education for want of fiscal support. The fiscal backing should be handed to the poor and indigent to take over higher education and the meritorious scholars to pursue professional/ specialized education. This study will be a significant bid in promoting a good terrain in the field of educational backing. The study will be salutary to the scholars and marketable banks for the timely disbursement of acceptable finance to the indigent scholars so that they can attain their higher education dream in this encyclopedically competitive terrain. By understanding the requirements of the scholars and benefits of quality education, marketable banks can grant loans for higher education, which should be seen as an investment for profitable development and substance. The results of the study would act a feedback to the controllers so that they can correct their risks and thereby they can motivate the Indian banks in enforcing the educational loan scheme without hurting the interest of the scholar’s parents.

Keywords: Education, Viability, Commercial, Global, Development, Economically, Socially, Finance.