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PADHO PARDESH
Scheme of interest Subsidy on Educational Loans for Overseas Studies
for the Students Belonging to the Minority. Communities 1. Background:
The Prime Minister's New 15 Point Programme for the Welfare of Minorities was announced in June, 2006. It provides that the schemes for scholarships for meritorious students from minority communities will be formulated and implemented. The scheme of Interest Subsidy on educational loans for overseas studies will promote educational advancement of student from minority communities. 2. Objective :
The objective of the scbeme is to award interest subsidy to meritorious students belonging to economically weaker sections of notified minority communities so as to provide them better opportunities for higher education abroad and enhance their employability 3. Scope :
This is a central Sector Scheme to provide interest subsidy to the student belonging to the communities declared as minority communities in terms of section 2 (c) of National Commission for Minorities Act, 1992, on the interest payable for the period of moratorium for the Education Loans under the Scheme of Interest subsidy on Educational Loans for Overseas Studies to pursue approved courses of studies abroad at Masters and Ph.D levels. 4. Conditions for Interest Subsidy : (i) The Scheme is applicable for higher studies abroad. The interest Subsidy
shall be linked with the existing Educational Loan Scheme of Indian Banks Association (IBA) and restricted to students enrolled for course at Masters,
M.Phil and Ph.D levels. (ii) The interest subsidy under the scheme shall be available to the eligible students
only once, either for Masters or Ph.D levels. Interest subsidy shall not be
available to those students who either discontinued the course mid-stream, (iii) ..
due to anyreason, or those who are expelled from the institutions on disciplinary
or academic grounds. (iv) If a student violates any condition of the scheme, the subsidy will be discontinued
forthwith. (v) If a student is found to have obtained the subsidy by false statement/certificates,
the subsidy will be withdrawn/cancelled forthwith and amount of the subsidy
rity Benefits
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