Education and Career Forum

I want to study BBA course so, I want to apply for an education loan. I belongs to economically backward sections of the society. Is there any government sponsored subsidy education loan schemes to provide education loan?

Yes, the Government of India has launched several schemes to provide education loans to students from economically weaker sections at subsidized interest rates. Here are a few such schemes:

• Central Scheme of Interest Subsidy for Education Loans: This scheme provides interest subsidy during the moratorium period (i.e., the course period plus one year) on education loans taken by students from economically weaker sections. The scheme is available to students pursuing technical and professional courses in India or abroad. The subsidy is available for a maximum loan amount of Rs. 10 lakhs.
  
• Padho Pardesh Scheme: This scheme provides interest subsidy on education loans for overseas studies to students from minority communities in India. The subsidy is available during the moratorium period and for a maximum loan amount of Rs. 20 lakhs.
  
• Dr. Ambedkar Central Sector Scheme of Interest Subsidy on Educational Loan for Overseas Studies for the Economically Backward Classes (EBCs): This scheme provides interest subsidy on education loans for overseas studies to students from economically backward classes. The subsidy is available during the moratorium period and for a maximum loan amount of Rs. 20 lakhs.
  
• Post-Matric Scholarship Scheme: This scheme provides financial assistance to students from Scheduled Castes (SCs), Scheduled Tribes (STs), and Other Backward Classes (OBCs) for pursuing post-matriculation courses. The assistance includes maintenance allowance, books allowance, and other allowances.

You can check with the bank from where you are planning to take the education loan or visit the National Scholarship Portal (https://scholarships.gov.in/) for more information on these schemes and the eligibility criteria to avail them. It is recommended that you carefully read the terms and conditions of these schemes before applying for an education loan.