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Education Loan Government Schemes

Let’s learn about some important education loan schemes run by the government

Central Government Interest Subsidy Scheme (CSIS)

Central Government Interest Subsidy Scheme (CSIS)

Note: The information given in the table is subject to change as per government policy 

Scheme objective Eligibility Criteria
Course Type Family Income OBC or ECD Documents Required and other information 
Full coverage on the interest paid during the moratorium period

Technical or Professional Course Studies in any accredited Indian University

 

 Less than ₹4.5 Lakhs per year The scheme is applicable for Economically Backward Classes Income level proof, i.e., ITR / Form 16/ Audited Accounts, etc.

Padho Pardesh Scheme

Padho Pardesh Scheme

Note: The information given in the table is subject to change as per government policy 

Scheme objective Eligibility Criteria
Course Type Family Income OBC or ECD Documents Required and other information
Subsidy on interest payment on education loans for universities abroad. Students enrolled in Master, PhD, or MPhil courses abroad. Less than ₹6 lakh per annum The scheme is applicable for students belonging to Backward Classes (OBC) Income Proof and OBC certificate submitted when applying for the benefit.

Did you know?

  • Designated banks, SBI, BOI, etc., open portals for applications for claims of interest subsidy under the scheme every year.
  • Under this scheme, banks make automatic payments to universities after receiving funds from the Ministry of Monetary Affairs.

Did you know?

  • The scheme provides a scholarship amount of up to ₹7.5 Lakh without collateral or a third party guarantee.
  • The scheme applies to any applicant with an education loan from banks charging 2% more than the base rate of interest on loans.
Credit Guarantee Fund Scheme for Education Loans (CGFSEL)

Credit Guarantee Fund Scheme for Education Loans (CGFSEL)

Note: The information given in table is subject to change

Scheme Objective Eligibility Criteria
Course Type Family Income OBC or ECD Documents Required and other information 
Guaranteed cover to the extent of 75% of the amount in default. Students who have availed an education loan for studies in UG or PG courses in India or abroad. – – Aadhar Card should be linked to the Credit Information Bureau.

Dr Ambedkar Central Sector Scheme for Interest on Educational Loans for Overseas Studies for Other Backward Classes and Economically Backward Classes (ACSIS-OBC-EBC)

Dr Ambedkar Central Sector Scheme for Interest on Educational Loans for Overseas Studies for Other Backward Classes and Economically Backward Classes (ACSIS-OBC-EBC)

Note: The information given in table is subject to change

Scheme Objective Eligibility Criteria
Course Type Family Income OBC or ECD Documents Required and other information 
Guaranteed cover to the extent of 75% of the amount in default. Students who have availed an education loan for studies in UG or PG courses in India or abroad. – – Aadhar Card should be linked to the Credit Information Bureau.

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    Points to remember

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    Students belonging to low-income households and backward classes can avail of a loan through the NBCFDC Education Loan scheme

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    CGFSEL provides a scholarship amount of up to ₹7.5 Lakh without collateral or a third party guarantee.

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    The CSIS scheme gives full coverage on the interest paid during the moratorium period.

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