Welcome to the 16th episode of Loanflix, titled, ‘Education loan interest subsidy: Government schemes’. This episode gives you information that many of you have been looking for- about education loan interest subsidy schemes introduced by the government of India.
We all know that the Govt. of India has introduced a number of education loan interest subsidy schemes to facilitate students coming from limited backgrounds with good quality education. But how many of you know how they can be availed? Are you confident that you know each and every facet of these schemes? Do not worry if you don’t. With this 16th episode, we give you a whole lot of information on the same. Read on to know more.
Loanflix is the most comprehensive web-series on abroad education loans. The motive is to empower students and their guardians so that they can take an informed decision about the education loan.
Following are some of the major talking points in this episode of Loanflix.
Types of education loan interest subsidy schemes:
This episode begins with our expert speaker, Damini Mahajan explaining the three major interest subsidy schemes introduced by the Govt. of India. Major students are only aware of the existence of the CSIS scheme. But how many of you knew that the government has introduced two schemes which are beneficial to students who have borrowed an abroad education loan? Know more by watching this part.
What is subsidized and how much is the total benefit?
Exactly which part of the education loan is paid off by the government? Watch this part to know more.
Basic eligibility criteria
Coming to the most important point of this episode. Damini tells you the eligibility criteria laid down by the government for students belonging to certain categories of the society. Can two members of the same family avail subsidy under these schemes? What if one of them has already availed the benefits of a similar scheme? Are education loans taken from all financial institutions eligible to avail this subsidy? Watch this part of this 16th episode to know more.
The Padho Pardesh scheme
Damini explains the most prominent interest subsidy scheme available to students who have taken an education loan abroad. Know all about the Padho Pardesh scheme in this part of the episode.
Dr Ambedkar scheme of education loan interest subsidy
You all might already be aware of this interest subsidy scheme, apart from providing some general information about this scheme, our speaker also advises on how this scheme benefits you? The eligibility criteria for this scheme, etc. So watch out for this portion of the episode.
Education loan interest subsidy application process:
How can one apply for an interest subsidy? Are there any limitations to apply? Till when are applications accepted? Know the answers to all these questions by watching this section of the 16th episode.
Education loan Interest subsidy approval process:
How are candidates approved for each subsidy scheme? Who approves them? Is there a fixed quota? On what basis is the quota fixed? Don’t worry if these questions are bothering you already. All these questions will be answered in this part of the episode.
We are sure that this episode will answer a lot of doubts regarding the education loan subsidy schemes introduced by the central government for students belonging to special communities. Loan repayment can be a huge burden to students who come from economically weak sections of society. An interest subsidy can prove to be a boon to such students. And as a loan applicant, it is extremely essential for you to be aware of such schemes. We will be starting a series of episodes that highlight the education loan application procedure for students who plan to pursue their higher studies in specific countries. So stay tuned and keep checking this part of our website for updates.
Date And Time
Timezone : (GMT+05:30) Chennai
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Damini is the Cofounder & CEO of WeMakeScholars.com. It’s a BITS start up supported and funded under the IT Ministry, Govt. of India. The organisation’s motive is to offer unbiased collateral/non-collateral based education loan support to students who are planning for studying abroad. As this initiative is under the digital India campaign, it's at free of cost. WMS works with 14+ banks (public/pvt) in India and help you get the best edu loan matching your profile.
Prior to launching WeMakeScholars, Damini had done her masters from the University of Sheffield, UK. Her education was funded under the Developing Solutions Masters Scholarship which covered her full tuition fee ($ 38,000). Damini is also a gold medalist in her Bachelors and also won the outstanding student award from the Vice president of India.
She was the speaker at TiECon 2016 at Silicon valley, San Francisco in the social entrepreneurship segment. She was also covered in the Asian Entrepreneur magazine in the “Women on Top in Tech”, a global series of Women Founders, CEOs & Leaders in Tech.