Gujarat Education Loan Interest Subsidy Apply Online Form at kcg.gujarat.gov.in: Gujarat Govt. has launched Education Loan Interest Subsidy Scheme 2023 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 Gujarat Government Education Loan 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.
Gujarat Education Loan Interest Subsidy Scheme 2023 Apply Online
In this article, we will tell you about the complete process of how to apply online for Education Loan Interest Subsidy Scheme offered by the Gujarat state government.
Gujarat Education Loan Interest Subsidy Application / Registration Form
Below is the complete procedure to apply online for Interest Subsidy Scheme on Education Loan in Gujarat:-
STEP 1: Visit the official website of Knowledge Consortium Of Gujarat kcg.gujarat.gov.in
STEP 2: On the homepage, click at the “Interest Subsidy Scheme on Education Loan (Registration Open)” link or directly click https://kcg.gujarat.gov.in/education_loan/
STEP 3: At the opened page, click at the “Online Registration Form for Interest Subsidy Scheme on Education Loan” link or directly click https://kcg.gujarat.gov.in/education_loan/student_login/sign_up.php.
STEP 4: Afterwards, Gujarat Interest Subsidy Scheme Online Application Form will appear as follows:-
- Here candidates can fill their details such as name, e-mail ID, contact number, aadhar number, HSC / Diploma Passing Year, choose stream, enter income details, username, password and then click at the “Register” button.
- Afterwards, the page to enter scholarship information in Gujarat Government Education Loan Scheme online application form will appear as shown below:-
- Enter all your scholarship details correctly and click at “Save” button to proceed to edit the profile to complete the Gujarat Education Loan Interest Subsidy Scheme online registration form filling process.
Download Gujarat Government Education Loan Scheme Guidelines 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 download Gujarat Government Education Loan Scheme Guidelines PDF:-
Instructions Gujarati (PDF) – https://kcg.gujarat.gov.in/education_loan/pdf/Instruction%20of%20Student-Gujarati.pdf
Instructions English (PDF) – https://kcg.gujarat.gov.in/education_loan/pdf/Instruction%20for%20Student-%20English.pdf
Instructions for Gujarat Government Education Loan Scheme
- Passed class 12 with 60% or more Percentiles.
- An annual gross income of parental/family upper limit must be Rs.6.00 lakhs per year (from all sources) and not more than that.
- Student must be passed standard 12 from recognized board or recognized central board and got admission in Recognized Universities of India and abroad.
- Loan must be taken after Government resolution Date:-04/07/2017 from schedule bank.
- Subsidy is available up to 10 lakhs only. If applicant has taken loan more than 10 lakhs then interest should be given on only 10 lakhs and rest of amount should be paid by applicant.
- Under this scheme amount of total interest on education loan up to Rs. 10.00 lakh loan amounts deposited on applicant’ bank loan account. Bank interest rate as per RBI guidelines. No any other charges will pay to bank.
- This is not scheme for providing education loan. Please don’t demand for education loan.
- The applicant will have to fill the application form on the KCG website and submit the Acknowledgement receipt and necessary documents to the scheduled bank. Thereafter, the Scheduled Bank will have to send the necessary endorsement, bank loan and interest details by sending the application to the KCG office. Offline application will not be accepted.
- The applicant must be present whenever called in personal for verification of documents.
- If a student is studying abroad, the student will be considered a power of attorney for the person who has been authorized to sign the various documents on behalf of the applicant while applying in the bank and only the father or mother of the student can sign it or introduce it. If anyone else has given an authority, it will not be considered valid.
- Copy of Income Certificate from competent authority (Mamlatdar / TDO certificate) and Income Tax Return or Self Declaration Certificate (If not eligible to pay income tax).
- The subsidy on Education Loan is only for Moratorium Period (i.e. Course Period plus one year) after the period of moratorium is over; the interest on the outstanding loan amount shall be paid by the student.
- Interest subsidy will be closed if the student decides to leave and / or leave the study, or if the loan itself is canceled by the bank.
- Automatic interest subsidy will be closed even if the loan is repaid in any case.
Eligibility for Gujarat Education Loan Interest Subsidy Scheme
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)
Other Important Links
Checklist of Documents – https://kcg.gujarat.gov.in/education_loan/pdf/Checklist%20of%20Documents.pdf
Scheduled Banks List – https://kcg.gujarat.gov.in/education_loan/pdf/shedual%20bank%20act%201934.pdf
First Renewal of Interest Subsidy Scheme – https://kcg.gujarat.gov.in/education_loan/pdf/First%20Renewal%20of%20Interest%20Subsidy%20Scheme.pdf
List of Approved / Rejected Applications – https://kcg.gujarat.gov.in/education_loan/approved.php
Format for Required Documents – https://kcg.gujarat.gov.in/education_loan/documents.php
Self Declaration For Non IT Returns – https://kcg.gujarat.gov.in/education_loan/pdf/Self%20Declaration%20of%20income%20tax%20return%20not%20pay.pdf
Self Declaration for No Other Scheme Benefit Taken – https://kcg.gujarat.gov.in/education_loan/pdf/Self%20Declaration%20of%20no%20other%20scheme%20avil.pdf
For complete information, visit the official website https://kcg.gujarat.gov.in/education_loan/index.php