Education and Career Forum

Hello sir, I came from poor family (below creamy layer) and I am interest to study the higher education but have no economical backward. Please tell me does government provides interest free education loan or scholarship to study higher education? What should I do for it?

The government of India has approved a central scheme to provide full interest subsidy during the course period plus one year or six months after getting the job whichever is earlier and after getting the job the students has to repay the loan along with the interest on the education loan as per the basic rate of individual banks which was taken from the scheduled bank and as per the provisions for interest rates under the Indian Bank Association model education loan scheme. The candidate needs to show the income proof from the authority which is authorized by the state government that the annual income of the family does not exceed Rupees 4.5 lac per year from the entire source. You can apply for the loan from any scheduled bank by providing the necessary documents like income certificate, address proof, passport size photo, ID proof, last qualification mark sheet, Fees receipt for higher education to ensure that you are taking it for genuine purpose. You need to sign the agreement with the scheduled bank as per the Ministry Of HRD norms. There is other scheme also under which you can take loan like The National Minorities Development and Finance Corporation (NMDFC), The National Safai Karamcharis Finance and Development Corporation (NSKFDC), National Backward Classes Finance and Development Corporation (NBCFDC), National Scheduled Castes Finance and Development Corporation (NSCFDC), and the National Handicapped Finance and Development Corporation (NHFDC). The interest charged by this undertaking is to be paid by the government to the respective corporations.