Raipur (Chhattisgarh) [India], August 30 (ANI): In a significant move aimed at improving access to higher education for economically weaker students in Chhattisgarh’s Maoist-affected districts, Chief Minister Vishnu Deo Sai has announced the provision of interest-free loans for technical and vocational education.
Sai has given instructions to launch a special campaign to ensure that the maximum number of students in Maoist-affected districts avail the benefits under the ‘Chief Minister’s Higher Education Loan Interest Subsidy Scheme’.
The Chief Minister has also directed the Collectors of other districts in the state to ensure that students from economically weaker families are provided with loans at a 1 per cent interest rate for pursuing technical and vocational higher education.
Deputy Chief Minister Vijay Sharma has informed that the Department of Technical Education has been appointed as the nodal department for the implementation of the ‘Chief Minister’s Higher Education Loan Interest Subsidy Scheme’.
This scheme covers 35 technical and other vocational courses at diploma, undergraduate, and postgraduate levels. The maximum limit for education loans eligible for interest subsidy under the scheme is set at Rs 4 lakhs.
Under this scheme, students enrolled in technical and vocational courses, whose families have an annual income of less than Rs 2 lakhs, will only be required to pay interest at a rate of 1 per cent during the repayment period, provided they make regular payments after the moratorium period.
The remaining interest amount will be directly paid to the respective banks by the state government. It is noteworthy that students from the Maoist-affected districts of Bastar, Bijapur, South Bastar Dantewada, Jashpur, North Bastar Kanker, Koriya, Narayanpur, Rajnandgaon, Surguja, Dhamtari, Mahasamund, Gariaband, Balod, Sukma, Kondagaon, and Balrampur will receive interest-free loans.
To avail of this scheme, students must be permanent residents of Chhattisgarh and enrolled in courses recognized by competent authorities such as AICTE or UGC, within institutions established in the state. The maximum family income should not exceed Rs 2 lakhs, and this must be verified by an income certificate issued by a competent authority.
The maximum loan limit for interest subsidy under the scheme is Rs 4 lakhs. Regular repayment of loan instalments is mandatory to avail of the interest subsidy benefit. Students who drop out or are expelled will not remain eligible for the scheme, although eligibility may be retained in cases where studies are interrupted for medical reasons, for a maximum period of one year. (ANI)
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