Tag Archives: Scheme

Schemes to make education loan as easy loans

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All Scheduled Commercial Banks provide Education Loan to students. Simple interest is charged during the study period and up to commencement of repayment. Accrued interest is added to the principal amount borrowed while fixing EMI (Equated Monthly Instalment) for repayment.

The Schemes launched by the Government to provide interest subsidy to the students include:

(i) Central Scheme to provide Interest Subsidy (CSIS) wherein full interest subsidy is available for the students belonging to economically weaker sections, for studies in India, for educational loans disbursed on or after 1st April, 2009 during the period of moratorium.
(ii) Padho Pardesh Scheme to award interest subsidy to meritorious students belonging to economically weaker sections of notified minority communities for overseas studies.
(iii) Dr Ambedkar Central Sector Scheme of Interest Subsidy on Educational Loan for Overseas Studies for Other Backward Classes whereby interest payable by the students for the period of moratorium is borne by the Government of India.

In order to facilitate easy processing and disbursal of loans, Government has launched a web-based portal namely Vidya Lakshmi Portal where students can apply online and track education loans. Credit Guarantee Fund Scheme for Education Loans (CGFSEL) is also there wherein collateral free loan is given upto Rs.7.5 lakh.

This was stated by Shri Arjun Ram Meghwal, Minister of State for Finance in written reply to a question in Rajya Sabha today.

Healthcard for Cancer Treatment

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Rashtriya Swasthya Bima Yojana (RSBY), a centrally sponsored scheme, provides health insurance coverage to Below Poverty Line (BPL) families and including other 11 categories of Unorganized Workers (UOWs) who are enrolled under the scheme.

Senior Citizen Health Insurance Scheme (SCHIS) is also implemented w.e.f. 01.04.2016. Under this, health coverage is available for Rs.30,000/- per annum per senior citizen for treatment packages, over and above RSBY entitlement.

Each family enrolled in the scheme is entitled for hospitalization benefits in Government empanelled hospitals (including both private and public). RSBY and SCHIS cover oncology treatment within prescribed benefits ceiling.

Under comprehensive Primary Healthcare, operational guidelines for Prevention, Screening and Control of Common Non-Communicable Diseases: Hypertension, Diabetes and Common Cancers (Oral, Breast, Cervix) have been issued under National Health Mission which envisage preparation of Health Cards for individuals above 30 years of age. These Cards primarily will be health records of individuals listing health issues/diseases/disabilities and exposures to risk factors of common NCDs including cancer.

The Minister of State (Health and Family Welfare), Smt Anupriya Patel stated this in a written reply in the Rajya Sabha here today.

Scheme for Poor Students

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The Central Government is sensitive to the needs of students belonging to the economically weaker sections of the society and is committed towards ensuring equity in access to higher education.

Under the Central Sector Scheme of Scholarship scheme for College and University Students, financial assistance is provided to meritorious students having family income of less than Rs. 6 lakh per annum to meet a part of their day-to-day expenses while pursuing higher studies. Students who are above 80th percentile of successful candidates in the relevant streams from a particular Board of Examination in class XII of 10+2 pattern or equivalent and pursuing regular course and not availing of any other scholarship, are eligible for consideration under this scheme.

Further, under the Central Sector Scheme of Interest Subsidy on Education Loan interest subsidy is provided to all students belonging to Economically Weaker Section (EWS), with an annual parental income up to Rs.4.5 lakhs. The Scheme provides for full interest subsidy during the period of moratorium (i.e. duration of recognised professional course plus 1 year) on educational loans availed of by all students belonging to EWS from Scheduled Banks, including Co-operative & Regional Rural banks, as per the Model Educational Loan Scheme of Indian Banks’ Association.

Also, the National Mission on Education through Information and Communication Technology (ICT) has been launched with the objective of making best use of ICT with the purpose of identification and nurturing of talent and life-long learning as well as extending the education facility to a larger section of people.

This information was given by the Minister of State (HRD), Dr. Mahendra Nath Pandey today in a written reply to a Lok Sabha question.