AI SummaryLIDCOM Education Loan Scheme helps post graduate students from the Charmakar community in Maharashtra continue their higher studies without money worries. Backed by the National Scheduled Castes Finance and Development Corporation (NSFDC), New Delhi, the scheme provides loan support of up to ₹30 lakh for studies in India and up to ₹40 lakh for studies abroad.
The scheme has been helping students since 2009 through the Sant Rohidas Leather Industries and Charmakar Development Corporation Ltd, known as LIDCOM. It is open to students between 18 and 50 years of age who live permanently in Maharashtra and belong to the Charmakar community, including Dhor, Chambhar, Holar and Mochi.
LIDCOM Education Loan Scheme - Introduction
LIDCOM Education Loan Scheme is a state level scheme run by the Social Justice and Special Assistance Department of Maharashtra. The main aim is to help students from the Charmakar community raise their educational, economic and social standing by easing the cost of higher education. The scheme supports post graduate study both in India and abroad, so deserving students can build a respectable career.
Since the loan amount and interest rates have been revised, students should check the latest figures before applying. The scheme continues to accept applications through the district offices of LIDCOM across Maharashtra.
Highlights
| Detail | Information |
|---|---|
| Scheme Name | LIDCOM Education Loan Scheme |
| Level | State |
| Beneficiary State | Maharashtra |
| Target Group | Charmakar community students |
| Nodal Department | Social Justice and Special Assistance Department |
| Implementing Agency | District Offices of LIDCOM |
| Funding Agency | NSFDC, New Delhi |
| Benefit Type | Cash Loan |
Benefits
The scheme offers a big loan amount for higher studies. As per the latest official details, the loan limit depends on where you plan to study:
| Study Location | Loan Limit |
|---|---|
| Post-graduate studies in India | Up to ₹30,00,000 |
| Post-graduate studies abroad | Up to ₹40,00,000 |
Interest rates are kept low to make the loan easy to repay. For studies in India, the rate is 6% per annum for male beneficiaries and 5.5% per annum for female beneficiaries. For studies abroad, the rate is 7% per annum for male and 6.5% per annum for female beneficiaries. The repayment period is 10 years for loans up to ₹10 lakh and 12 years for loans above that amount.
Eligibility
To apply for this loan, students need to meet the following conditions:
- Residence: You must be a permanent resident of Maharashtra.
- Community: You must belong to the Charmakar community, such as Dhor, Chambhar, Holar or Mochi.
- Age: Your age should be between 18 and 50 years.
- Income: Your total family income should be ₹3,00,000 or less per year, for both rural and urban areas.
- Certificates: You must produce income and caste certificates issued by an authorised government officer.
- Knowledge: You should have enough knowledge of the field of study for which you are seeking the loan.
Application Process
Application for this scheme is done offline through the district offices of LIDCOM. Follow these steps:
STEP 1 - Visit the nearest district office of LIDCOM and collect the official application form for the education loan scheme.
STEP 2 - Fill in all the required details carefully. Attach a passport-sized photograph and sign across it.
STEP 3 - Gather all your self-attested documents and attach them to the form.
STEP 4 - Submit the completed application package at the same district office.
STEP 5 - Collect the receipt or acknowledgement slip as proof of your submission, and keep it safe for future reference.
Documents
Keep the following documents ready while applying:
- Aadhaar Card.
- Two passport-sized photographs, signed across.
- Marksheet or last educational qualification certificate.
- Proof of admission, such as the offer letter from your institution.
- Domicile certificate of Maharashtra.
- Income certificate from an authorised government officer.
- Caste certificate from an authorised government officer.
- Bank account details, such as passbook copy or cancelled cheque.
- Bank statement for the last year, if you have taken previous loans.
References
For the latest guidelines and updates, refer to the official resources below:
FAQ's
What is the full form of LIDCOM and NSFDC?
LIDCOM stands for Sant Rohidas Leather Industries and Charmakar Development Corporation Ltd, and NSFDC stands for National Scheduled Castes Finance and Development Corporation.
What is the maximum loan amount under this scheme?
You can get up to ₹30,00,000 for post graduate studies in India and up to ₹40,00,000 for studies abroad.
What are the interest rates for this loan?
For studies in India, the interest rate is 6% per annum for male and 5.5% for female beneficiaries. For studies abroad, it is 7% for male and 6.5% for female beneficiaries.
Who is eligible to apply?
Permanent residents of Maharashtra from the Charmakar community, aged between 18 and 50 years, with a family income of ₹3,00,000 or less per year, can apply.
Is this scheme open to students from other states?
No, this scheme is only for permanent residents of Maharashtra.
How can I reach out for support?
You can contact the LIDCOM support team at 022-22044186, 022-22047157 or 022-45240417, or visit the official website.