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Education Loan Scheme need to be taken to students: Sh. Balbir

It is indeed a matter of pride for the Corporation that it not only provides financial assistance to SCs, STs, BCs, Minorities, Handicapped and Safai Karamchari categories unemployed persons to set up their livelihood earning units but also help the students of these sections to pursue their professional and academic courses under ‘Education Loan Scheme’ of the Corporation in India and abroad.

Balbir Ram Rattan, Vice Chairperson, J&K Scheduled Castes, Scheduled Tribes and Backward Classes Development Corporation Limited, said this while discussing the Education Loan Scheme and the related procedure, formalities and mode of payment with the senior officials at a meeting at Corporation Headquarter, Jammu.

The Vice Chairperson was briefed that the ‘Study Loan Scheme’ is meant for the 10+2 State Subject students belonging to reserved categories namely SCs, STs, BCs, Minorities, Handicapped and Safai Karamcharis. A maximum of rupees ten lakh for studies in India and twenty lakh for abroad are made available to the aspiring students as loan, who have to produce admission confirmation certificate, fee structure/cost of course from the recognized Institute and also Visa in case of foreign Institute and guarantee from two employees of government service.

While the repayment of the amount availed under Study Loan Scheme starts after six months of the completion of the course or getting employment, whichever is earlier, and the most appreciating aspect is that the male loanee has to pay 4 percent interest and the female just 3.5 per cent interest on the loan availed by them. The loan case is processed at the local level and later recommended to the Apex Corporation of New Delhi for final approval.

Balbir Ram Rattan, while terming the scheme as a major relief to the students of reserved categories, asked the officials to reach these sections and highlight the scheme so that maximum students are benefitted.

The meeting was attended by Divisional Manager, Ghulam Qadir Khatana, Manager Finance, Anil Gupta, Manager Recovery K.L Bhagat and District Manager Joginder Paul Atri.