NSFDC Education Loan Scheme for SC Students

About The Program:

Eligibility:

The applicants must fulfil the following eligibility criteria:

• Applicants must be Indian citizens.
• They must belong to the Scheduled Castes (SC) category.
• Students must be planning to pursue regular professional/technical courses approved by the Government in India and abroad.
• Applicants must have cleared their last qualifying examination (school, undergraduate, or postgraduate level). 
• The candidates must be enrolled in one of the following professional and technical courses approved by the Government for pursuing studies in both Indian and International institutions:
  • Engineering (Diploma/ B.Tech /B.E, M.Tech/M.E.)
  • Architecture (B.Arch/M.Arch)
  • Medical (MBBS/MD/MS)
  • Biotechnology/Microbiology/Clinical Technology (Diploma/Degree)
  • Pharmacy (B.Pharma/M.Pharma)
  • Dental (BDS/MDS)
  • Physiotherapy (B.Sc./M.Sc.)
  • Pathology (B.Sc/M.Sc.)
  • Nursing (B.Sc./M.Sc.)
  • Information Technology (BCA/MCA)
  • Management (BBA/MBA)
  • Hotel Management & Catering Technology (Diploma /Graduation/Post Graduation)
  • Law (LLB/LLM)
  • Education (CT/NTT/B.Ed/M.Ed)
  • Education (CT/NTT/B.Ed/M.Ed)
  • Physical Education (C.PEd./B.PEd/ M.PEd)
  • Journalism & Mass Communication (Graduation/Post Graduation)
  • Geriatric Care (Diploma/Post Graduate Diploma)
  • Midwifery (Diploma)
  • Laboratory Technician (Diploma)
  • Chartered Accountancy (CA)
  • Cost Accountancy (ICWA)
  • Company Secretaryship (CS)
  • Actuarial Sciences (Graduation/ Post Graduation/FIA)
  • Associate Member of Institute of Engineers (AMIE) and Institute of Electronics & Telecommunication
  • Higher education (Doctoral Studies leading to M.Phil/PhD from recognized institutions.)
• Annual family income of applicants belonging to urban and rural areas should not exceed ₹3 lakh.

Benefits:

The interest rates and maximum loan limits under this scheme are as follows:

Note:

• A rebate of 0.5% will be provided to female applicants.
• The repayment period will be 10 years for loans up to ₹10,00,000 and 12 years for loans exceeding ₹10,00,000.

The following benefits will be covered under this education loan:

• Admission fee
• Tuition fee
• Books, stationery, and equipment expenses
• Examination fee
• Hostel and mess expenses
• Insurance premium for policy (covering loan in case of death or permanent disability)
• Travel expenses/passage money (including visa expenses) for studying abroad
• Caution money
• Development fund
• Clothing allowance (including weather-protective clothing in extreme climates for foreign study)
• Provision of 1% of the total course cost is allocated to cover unforeseen expenses
• Thesis printing charges
• Other charges related to the submission of the thesis
• Campus conveyance (including bus and railway fare)

Note: Any other items necessary for the course may be taken into consideration.