AI SummaryEducation Loan Scheme under NSFDC provides loans of up to ₹10 lakhs for studies within India and up to ₹30 lakhs for studies abroad to eligible students from the Scheduled Caste community. It helps them complete regular full time professional or technical courses without financial pressure.
Implemented by the Haryana Scheduled Castes Finance and Development Corporation (HSFDC) in partnership with the National Scheduled Castes Finance and Development Corporation (NSFDC), the scheme stays open for students who secure admission in recognized full time courses in India or overseas. HSFDC is a wholly government owned corporation formed on 02.01.1971.
Education Loan Scheme under NSFDC - Introduction
This scheme works as a bridge for Scheduled Caste students in Haryana who want to take up higher education. It covers a full time recognized professional or technical course at government recognized institutions, and for study abroad it covers institutions duly recognized by the relevant authorities.
The loan reaches the student through the state channelizing agency and is directed to the institution where admission is secured. The main aim is to give financial support so that eligible Scheduled Caste students can finish their professional or technical graduation and post graduation without worrying about money.
Education Loan Scheme Highlights
| Detail | Information |
|---|---|
| Scheme Name | Education Loan Scheme under NSFDC |
| Level | State |
| Beneficiary State | Haryana |
| Target Beneficiaries | Scheduled Caste students |
| Implementing Agency | HSFDC with NSFDC |
| Loan Limit (India) | Up to ₹10,00,000 |
| Loan Limit (Abroad) | Up to ₹30,00,000 |
| Application Mode | Online and Offline |
| Official Website | hscfdc.org.in |
What the loan covers is fairly wide. It includes admission and tuition fees, books and study instruments, examination fees, boarding and lodging, insurance premium that protects the loan in case of death or permanent disability, travel expenses or passage money for study abroad, and caution money and development funds.
Courses Covered
The support extends to many regular full time courses. These include Engineering (Diploma, B.Tech, M.Tech), Architecture, Medical (MBBS, MD, MS), Biotechnology, Pharmacy, Dental, Physiotherapy, Nursing, Information Technology (BCA, MCA), Management (BBA, MBA), Hotel Management, Law (LLB, LLM), Education (B.Ed, M.Ed), Chartered Accountancy, Cost Accountancy, Company Secretaryship, and doctoral studies like M.Phil and PhD from recognized institutions.
Benefits and Loan Limit
The scheme offers a big loan amount, so a student can cover most of the course expenses in one place. For study within India the limit is up to ₹10,00,000, and for study abroad it goes up to ₹30,00,000.
| Study Location | Maximum Loan Limit |
|---|---|
| Within India | Up to ₹10,00,000 |
| Abroad | Up to ₹30,00,000 |
Repayment of principal and interest starts 6 months after the course is completed or after getting employment, whichever comes first. The loan is paid back in 20 quarterly installments over 5 years from the date of first payment. The diploma or degree certificate will carry a marker that points out the repayment liability.
Eligibility
These are the main conditions a student needs to meet to apply. The requirements are kept simple and clear.
- The applicant must be a permanent resident of Haryana.
- The applicant must belong to the Scheduled Caste community.
- Age should be between 18 and 45 years.
- The total annual family income should not be more than ₹3,00,000.
- Admission must be secured in a regular full time recognized professional or technical course.
For example, Ramesh, a Haryana resident from the Scheduled Caste community, aged 25 with a family income of ₹2 lakhs, is eligible to apply for this loan. The education loan is generally admissible only once, either at diploma or graduation or at post graduation level, although students who take up an integrated course covering both levels are also covered.
As per the scheme rules, 50% of the beneficiaries are expected to have an annual family income up to ₹1,50,000, while the remaining 50% may have income between ₹1,50,001 and ₹3,00,000.
Application Process
Application can be done online through the HSFDC portal or the Antyodaya-SARAL portal, and it can also be done offline through the district office. Below are the steps for the online route on the HSFDC platform.
STEP 1 - Go to the official HSFDC portal and select the scheme under 'NSFDC Assisted Scheme'.
STEP 2 - Click on 'Apply for Loan' and register with details like name, Aadhaar number, email, and mobile number.
STEP 3 - Enter the OTP sent to the mobile and submit to open the application form.
STEP 4 - Fill in all the details and upload the required documents, then click 'Submit' to get the user ID and password.
STEP 5 - Log in with these credentials, go to the dashboard, update the profile with surety details, and click 'Final Submit'.
Alternatively, the application can be done through the Antyodaya-SARAL Portal by creating a profile, searching for this scheme in 'Apply for Services', filling the form, and submitting it. Applicants can also track their application by entering the department name, scheme name, and application reference ID.
Offline Application
Students can also apply offline by visiting the concerned District Manager at the local office of the Haryana Scheduled Castes Finance and Development Corporation. They need to carry admission proof and the required documents to make the process smooth.
Documents
These documents should be kept ready while applying for the loan. Keeping them ready helps finish the application without delay.
- Admission confirmation certificate from the Indian consulate for studies abroad.
- Aadhaar Card and Parivar Pehchaan Patra (PPP ID).
- Proof of residence.
- Accreditation status of the course and the educational institution.
- Fee payment schedule from the institute.
- Passport and visa copies for studies abroad.
- Income certificate.
- Scheduled Caste certificate.
- Date of birth proof such as the school leaving certificate.
References
- HSFDC Official Website
- Education Loan Scheme Details Document
- Antyodaya-SARAL Portal
- NSFDC Schemes Page
- NSFDC Application Forms
FAQ's
Who implements the scheme?
The Haryana Scheduled Castes Finance and Development Corporation (HSFDC) manages the scheme in partnership with the National Scheduled Castes Finance and Development Corporation (NSFDC).
What is the objective of the scheme?
The objective is to provide loans to eligible Scheduled Caste students for full time professional and technical education.
What does the loan cover?
It covers tuition fees, books, boarding costs, insurance, examination fees, and travel expenses for studies abroad.
What is the maximum loan limit in India?
A student can receive up to ₹10 lakhs for courses within India.
What is the maximum loan limit for studies abroad?
A student can receive up to ₹30 lakhs for courses abroad.
When does repayment start?
Repayment begins 6 months after the course is completed or after starting work, whichever happens first.
How is the loan repaid?
The loan is repaid in 20 quarterly installments over 5 years.
Who is eligible for this loan?
Permanent residents of Haryana belonging to the Scheduled Caste community, aged 18 to 45, with an annual family income of up to ₹3 lakhs can apply.
Can I apply if I have an integrated course?
Yes, students admitted to integrated courses that cover both graduate and postgraduate levels are eligible.
Is there a tag on my degree?
Yes, the diploma or degree will include a marker that points out the repayment liability.
How do I apply?
Apply online through the Antyodaya-SARAL Portal or the HSFDC website, or offline through the district office.
Can I get the loan for short-term courses?
No, this scheme is strictly for regular full-time professional or technical courses.