Education and Career Forum

Sir, I had taken an education loan from Dena Bank under Vidya Loan Scheme for Rs.7.4 Lacs for two years in the name of my son. Our income is less than Rs. 4.5 Lacs p.a. Please let me know that we are eligible for subsidy or not? If we are eligible then what are the documents we have to submit?

Yes, you can get subsidy on education loan under the Central Government Interest Subsidy Scheme, by Department of Education, Ministry of Human Resource Development, Government of India. The scheme is specifically designed to help people from a lower income group. In order to get benefits from this scheme, the total gross income of the applicant, including parental income, must be less than Rs. 4.5 lacs. You will have to provide an original income certificate issued by the authorised officer of the State*Government under the*scheme for subsidy on education loan.