Education and Career Forum

Hello, my brother applied for an education loan around 10 years ago. Now he is working and his salary is not sufficient to repay the loan amount. But still he is paying the due amount regularly. Please say, how to get subsidy for his education loan amount?

Yes, your brother can get subsidy for his education loan amount. Subsidy on education loan interest can be availed under the Central Government Interest Subsidy Scheme, by Department of Education, Ministry of Human Resource Development, Government of India.* This scheme is specially designed to help the people of low income group.
In order to get benefit from this scheme, the total gross income of the applicant should be less than Rs 4.5 lakhs, including the income of the parents. For more details on the subsidy, contact your bank with the necessary supporting documents.