Sarkari Yojana
Education Loan Scheme
About Education Loan Scheme
The “Education Loan Scheme” run by the National Scheduled Castes Finance and Development Corporation (NSFDC), under the Ministry of Social Justice and Empowerment, offers loans to Scheduled Caste students pursuing full-time professional or technical courses at recognized institutions. It aims to extend education loans to Backward Class students for professional/technical study at the graduate level and above, and for vocational courses. All professional and technical courses at the graduate level and above, approved by the appropriate authority, along with vocational courses, qualify. Education loans go to eligible students pursuing regular, full-time, government-approved Professional/Technical courses in India or abroad, in the following fields:
1. Engineering (Diploma/ B.Tech /B.E, M.Tech/M.E.) 1. Architecture (B.Arch/M.Arch) 1. Medical (MBBS/MD/MS) 1. Biotechnology/Microbiology/Clinical Technology (Diploma/Degree) 1. Pharmacy (B.Pharma/M.Pharma) 1. Dental (BDS/MDS) 1. Physiotherapy (B.Sc./M.Sc.) 1. Pathology (B.Sc/M.Sc.) 1. Nursing (B.Sc./M.Sc.) 1. Information Technology (BCA/MCA) 1. Management (BBA/MBA) 1. Hotel Management & Catering Technology (Diploma /Graduation/Post Graduation) 1. Law (LLB/LLM) 1. Education (CT/NTT/B.Ed/M.Ed) 1. Education (CT/NTT/B.Ed/M.Ed) 1. Physical Education (C.PEd./B.PEd/ M.PEd) 1. Journalism & Mass Communication (Graduation/Post Graduation) 1. Geriatric Care (Diploma/Post Graduate Diploma) 1. Midwifery (Diploma) 1. Laboratory Technician (Diploma) 1. Chartered Accountancy (CA) 1. Cost Accountancy (ICWA) 1. Company Secretaryship (CS) 1. Actuarial Sciences (Graduation/ Post Graduation/FIA) 1. Associate Member of Institute of Engineers (AMIE) and Institute of Electronics & Telecommunication 1. Higher education such as Doctoral Studies leading to M.Phil/PhD from recognized institutions.
Scheme Overview
Central Government
Ministry Of Social Justice and Empowerment
National Scheduled Castes Finance And Development Corporation (NSFDC)
Individual
Scheme Details
Eligibility Requirements
To qualify for Education Loan Scheme, applicants must satisfy the following conditions:
The beneficiary(ies) must belong to the Scheduled Caste…
The beneficiary(ies) must belong to the Scheduled Caste Community.
Individuals, partnership firms, and cooperative societies may take…
Individuals, partnership firms, and cooperative societies may take up income-generating activities.
Each member's/applicant's annual family income must not exceed…
Each member's/applicant's annual family income must not exceed Rs.3.00 lakh.
Applicants must apply to NSFDC for financial assistance…
Applicants must apply to NSFDC for financial assistance through the concerned State Channelizing Agencies (SCAs)/Channelizing Agencies (CAs).
Annual family income must be within Rs.3.00 lakhs…
Annual family income must be within Rs.3.00 lakhs (for both rural and urban areas, w.e.f. 08.03.2018) under Credit Based Schemes.
There is no income criterion under Skill Development…
There is no income criterion under Skill Development Training Programmes.
Benefits Provided
Education Loan Scheme provides the following benefits to eligible applicants:
1. Maximum Loan Limit: Up to ₹30 lakhs (for studies in India) and up to ₹40 lakhs (for studies abroad), or 90% of the course fee, whichever is less. 1. Rate of Interest:
For studies in India, up to ₹30 lakhs…
For studies in India, up to ₹30 lakhs or 90% of course fee, whichever is less: the interest rate is 6% for male candidates and 5.5% for female candidates. The loan must be repaid within 10 years for amounts up to Rs.10 lakh.
For studies abroad, up to ₹40 lakhs, or…
For studies abroad, up to ₹40 lakhs, or 90% of course fee, whichever is less: the interest rate is 7% for male candidates and 6.5% for female candidates. The loan must be repaid within 12 years for amounts up to ₹10 lakhs. In both cases, the moratorium period is 6 months after course completion or getting a job, whichever comes first.
Documents Required
Applicants should keep the following documents ready before starting the application:
Proof of Identity (Aadhaar Card)
Proof of Identity (Aadhaar Card)
Passport Sized Photograph
Passport Sized Photograph
Proof of Educational Qualification (Passing Certificate / Marksheet)
Proof of Educational Qualification (Passing Certificate / Marksheet)
Caste Certificate (issued by the relevant District Administration…
Caste Certificate (issued by the relevant District Administration authority).
Annual Family Income Certificate, self-certified by the beneficiary…
Annual Family Income Certificate, self-certified by the beneficiary and endorsed by any Gazetted Officer notified by the State/Central government.
Where the loan is applied for at a…
Where the loan is applied for at a Bank (Channel Partner), a Self-Certification assessed and endorsed by the Branch Manager may serve as valid proof.
Applicant's bank details
Applicant's bank details.
How to Apply
Online Application
Applicants can apply for Education Loan Scheme through the online application process outlined below.
Application Portal: Open Application Portal ↗
Click on the official website to apply for…
Click on the official website to apply for the scheme.
Fill out the Education Loan Application Form with…
Fill out the Education Loan Application Form with all the details.
Click Submit
Click Submit.
Offline Application
Applicants can apply for Education Loan Scheme through the offline application process outlined below.
Download the application form for this scheme
Download the application form for this scheme.
Complete the application form, attach the documents, and…
Complete the application form, attach the documents, and submit it to the nearest bank or the NSFDC office.
Exclusions / Who Is Not Eligible
1. The educational loan cannot be provided for the completed course.
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.