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Subsidy on Education Loan | #finance #education #knowledge #loan #government #scheme

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Eligibility
* Education Loans taken under IBA Model Education Loan Scheme.
* Students having parental income up to Rs. 4.5 lakhs per annum.
* Students enrolled in professional/ technical courses only from NAAC accredited institutions or professional/ technical programmes accredited by NBA or Institutions of National Importance or Central Funded Technical Institutions (CFTIs). Those Professional lnstitutions/programmes, which do not come under the ambit of NAAC or NBA, would require approval of the respective regulatory body viz, approval of Medical Council of lndia for Medical courses, Nursing Council of lndia for Nursing courses, Bar Council of India for Law etc.
* Admissible only for once either for UG, PG- Also admissible for integrated courses (graduate + post graduate).
Interest Subsidy under this Scheme shall not be available to those students who discontinue their course midstream, or who are expelled from the Institution on disciplinary or academic grounds. However, the interest subsidy would be available only if discontinuation is due to medical grounds for which necessary documentation to the satisfaction of the Head of educational institution needs to be provided.
#education #finance #loan #education #scheme #students

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