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Ans. : Ministry will reimburse 100% interest component of the Educational loan availed
by a student from Bank up to moratorium period (ie. Course period + one year after completion of course or six months after getting employment whichever
happens earlier). 6. What documents are required to be submitted for claiming the benefits of the
Scheme? Ans. : Ministry does not require any document from the student directly. Students have
to submit the documents as per requirement of Lending Bank for availing the Educational Loan. Ministry will provide reimbursement of interest accrued on
Educational Loan up to moratorium period. 7. From which Bank, can a student take Education loan? Ans. : The interest subsidy is linked with the existing Educational Loan Scheme of Indian
Banks Association (IBA). Student can take Educational Loan from any Private Bank, Public Sector Bank, Scheduled commercial Bank and member urban Co
operative Banks etc. which is a member of IBA. 8. Can some part of the principal component of loan also be covered by this
Scheme? Ans. : No, Scheme is covering only interest part of the Education loan taken by a student
for the period of moratorium (i.e. course period, plus one year or six months after
getting job, whichever is earlier). 9. Is there any periodical report/document to be submitted by student during the
course of pursuing his/her studies abroad? Ans. : No. MoMA does not require any report/documents. Students have to submit
periodical progress reports/documents to their respective lending Banks on time to time during the period of pursuing their studies abroad. On completion of course, student may submit a copy of Mark list and certificate to the lending Bank as well
as Ministry of Minority Affairs for records. 10. Which Authority will issue Minority Certificate or who will Issue Minority
Certificate? Ans. : You may obtain Minority Certificate from:
(i) Any Religious body who issues such certificate; (ii) From School/College Principal; and (iii) Self declaration
writy Benefits
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