Kalinga Sikshya Sathi Yojana, an education loan scheme launched in June has got approved by the state cabinet on 8th August. Under the Kalinga Sikshya Sathi Yojana, the state government would provide education loans to the poor meritorious students at a very low interest rate.
Under the Kalinga Sikshya Sathi Yojana, the meritorious students would be provided education loans at just 1% of interest rates to achieve their dreams of higher education. The loan, however, would be given only to candidates whose annual household income is less than Rs. 6.00 Lakh.
The loans under the new scheme would be available to students who are willing to take higher education in medical, engineering, management, law and other fields.
The state government has already made an allocation of Rs. 500 Crores to implement the scheme. The allocation has been made from the Government’s own resources.