Education and Career Forum

I have heard about subsidy scheme. But I really don’t know what it is? Actually I am going to apply for an education loan in Allahabad Bank for studying my MS in Abroad. So, I got the paper regarding this subsidy scheme but don’t know about this. Please explain to me what it is?

The Ministry of HRD has launched Central Government scheme of Interest subsidy.
These subsidy is provided to economically weaker section of society.
In order to avail subsidy , the gross annual income of family must not exceed 4.50 lacs.
It provides full interest subsidy during moratorium period on modern education loans without any collateral security and 3rd party guarantee for persuing professional/technical course.