Himachal Pradesh CM: Students from underprivileged families to get up to Rs 20 lakh education loan
The announcement was made by Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu on Tuesday
Students hailing from Himachal Pradesh, whose annual family income is below Rs 4 lakh, now have the opportunity to apply for an education loan of up to Rs 20 lakh to pursue their higher studies.
The announcement was made by Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu on Tuesday.
This progressive step aims to provide financial support and empower deserving students to fulfil their educational aspirations.
Under the Mukhya Mantri Vidyarthi Protsahan Yojna, students aged up to 28 years will be eligible to avail the education loan. As per reports, the loan will be provided at a nominal interest rate of one percent.
The loan will cover the cost of boarding, lodging, tuition fee, books, and other education-related expenses, Sukhu said in a statement issued here on Tuesday.
The Rs 200-crore scheme announced in the first budget of the Congress government was approved by the cabinet on Monday, as reported by sources.
HOW TO APPLY FOR EDUCATION LOAN
This education loan is available for students who have achieved a minimum of 60 percent marks in their previous classes, enabling them to pursue professional and technical diplomas and degrees.
Meanwhile, this education loan facility is not for students pursuing their studies through correspondence or online courses.
To apply for the education loan, the eligible candidates need to apply through an online portal.
After verifying all the documents, the Director of Higher Education will recommend the candidates to the concerned bank for releasing the first installment of the loan.
Until the online portal is activated, students have the option to complete the offline form and submit the scanned documents via email to the Director of Higher Education.
