Gujarat Govt. has launched Education Loan Interest Subsidy Scheme 2018 for students who are not covered under Mukhyamantri Yuva Swavalamban Yojana. Under this scheme, all the students will get 100% Interest Subsidy on education loans for Moratorium Period (duration of course plus 1 more year). This subsidy shall remain applicable on loan upto a maximum of Rs. 10 lakh. Registrations are open and interested candidates can apply online at the official website kcg.gujarat.gov.in
Interest Subsidy Scheme on Education Loans will benefit all the bright and needy students to continue their studies after Class 12th. This scheme is applicable for education loans for Higher Education in Graduate / Post-Graduate /Diploma and Professional Courses subject to the following eligibility conditions.
All the applicants must have passed class 12th or equivalent with 60 or more percentile. In addition, the annual income of the family of the candidates from all sources must not exceed Rs. 6 lakh p.a. State govt. has allocated Rs. 500 lakh crore in Gujarat Budget 2017-18.
Gujarat Education Loan Interest Subsidy Scheme 2018
Below is the complete procedure to apply online for Interest Subsidy Scheme on Education Loan in Gujarat:-
- Visit the official website of Knowledge Consortium Of Gujarat kcg.gujarat.gov.in
- On the homepage, click at the “Interest Subsidy Scheme on Education Loan (Registration Open)” link or directly click this link
- Next click at the “Online Registration Form for Interest Subsidy Scheme on Education Loan“. Afterwards, Gujarat Interest Subsidy Scheme Online Application Form will appear as follows:-
- Here candidates can fill their eligibility details accurately and then click at the “Next” button. Afterwards, “Registration Form for Interest Subsidy Scheme on Education Loan” will appear as shown below:-
- Enter all your details correctly and “Submit” the completed application form. For more details on “How to Apply Online for Education Loan Interest Subsidy Scheme in Gujarat”, see the Complete Procedure (with Documents List) – Gujarati (PDF), English (PDF)
All the students must read the rules and regulations before making online application for the interest subsidy scheme on education loans. The instructions are available in the pdf format in both Gujarati and English Language. Students can directly click these link to read the instructions – Instructions Gujarati (PDF), Instructions English (PDF)
Eligibility for Interest Subsidy Scheme on Education Loan
All the applicants must fulfill the following eligibility criteria to become eligible for this scheme:-
- Applicants must have passed class 12th from Gujarat Higher Secondary Examination Board (GHSEB) or Central Board of Secondary Education (CBSE) and must be enrolled in a recognized University.
- Applicant must have secured at-least 60 percentile in Class 12th examination and should have passed class 12th after 2012 academic year. In case, candidates who have passed class 12th before 2011 where no percentile is shown in marksheet, then such candidates can apply on percentage basis.
- Students enrolled in diploma admission after class 10th (does not possess 12th marksheet) and have taken admission in Graduation / Post graduation can also apply on CGI / CGPA / percentage basis.
- Annual Income of the family of the candidates from all sources must not exceed Rs. 6 lakh.
- All the students who availed educational loan after 4 July 2017 from any schedule bank to pursue higher education in India and abroad are eligible. Moreover, if the loan for student is sanctioned before 4 July 2017 and loan amount is withdrawn after 4 July 2017, the such students are also eligible to apply for this scheme.
- This interest subsidy scheme on education loan is applicable for Graduation / Post Graduation / Diploma and other Professional Courses.
Those students who have left out their studies in middle of school curriculum or have been expelled from institution for certain reasons are Not Eligible. For more details on Interest Subsidy Scheme on Education Loan in Gujarat, see bulletin – Info. Booklet Gujarati (PDF), Info. Booklet English (PDF)
— Self Declaration For Non IT Returns – Click Here
— Self Declaration for No Other Scheme Benefit Taken – Click Here
— Bank Endorsement Form – Click Here
— Government Resolution – Click Here
— Circular – Click Here
— For complete information, visit the official website http://www.kcg.gujarat.gov.in/Education_loan/index.php