Gujarat Education Loan Interest Subsidy Scheme 2022 online apply at kcg.gujarat.gov.in Eligibility criteria, application form, registration. Education is the most valuable asset for a student or for an adult. Many government schemes have been launched to promote education in India. Gujarat education loan interest subsidy scheme is a scheme that is launched by the government of Gujarat for those students who were not covered under Mukhyamantri Yuva Swavalamban Yojana.
Gujarat Education Loan Interest Scheme 2022
Students will do not get the benefits of MMYSY can register themselves under Gujarat Education Interest Subsidy Scheme 2022. As the name of the scheme suggests this will give 100% subsidy on the interest of the loan for the Moratorium Period (one more year in addition to the duration of the loan).
Highlights of the Gujarat Education Laon Interest Subsidy Scheme 2022 – Education is an important tool that will shape the future of students. Keeping the importance of education in view, this scheme has been launched by the Government of Gujarat. The two main highlights of the scheme are the subsidy provided and the motive of the scheme. Under this scheme, 100% subsidy will be provided on interest for one extra year in addition to the duration of the loan.
MYSY Application Form 2022
Gujarat Education Loan Apply Online
The scheme is only applicable if the amount of the loan is more than INR 10 lakh. This scheme will be beneficial for the students who want to pursue higher education after class 12th. The motive of the scheme is to encourage the students to pursue higher education courses after class 12th. Students who obtain study loans for higher programs like graduation, diploma, post-graduation, professional courses, or professional degrees can avail of the benefits of this scheme.
Gujarat Education Loan Subsidy 2022
Benefits of the Education Subsidy scheme
There are many benefits of the Education Subsidy scheme launched by the Government of Gujarat. These are as follows-
- Many students dream of higher education but they couldn’t pursue their dreams due to a lack of financial stability. Government schemes will motivate students to work hard.
- The employment rate will improve in the state when meritorious students are provided with scholarships.
- Through scholarship schemes, students will not have to depend on private money lending which will have higher interest. Under this scholarship, the interest is 100% subsidized.
- The academic barrier is removed with the financial aid that is provided with scholarships.
- Through scholarship schemes, students will have more enhanced knowledge and they will be presented with better opportunities in the future.
- With the help of scholarship schemes, students will not have to drop out of their studies and they can pursue higher professional courses.
|scheme||Interest Subsidy on Education Loan|
|Under||State Government of Gujarat|
|apply online||Gujarat Education Loan Interest Subsidy Apply online|
|Status||Gujarat Education Loan Subsidy Status|
Gujarat Government Education Loan
Gujarat Education Loan Eligibility criteria –
The applicants of the scheme should fulfill the eligibility criteria to avail the benefits of the scheme. These are as follows-
- The applicant of the scheme should have qualified class 12th or equivalent standard from the Central Board of Education (CBSE) or Gujarat Higher Secondary Examination Board (GHSEB).
- The applicant must be enrolled in a recognized university.
- The applicant for the scheme should be a resident of Gujarat State.
- The applicant of the scheme should have cleared class 12th with 60% or more marks.
- The applicant should have cleared class 12th in 2012 or later.
- Applicants who have cleared class 12th before 2012 can also apply for the scheme, but before 2012, no marks were shown in mark sheet, such that the candidate can apply on a percentage basis.
- Applicants who have not taken a diploma after class 10th (have not done class 12th) can also apply for the scheme on CGPA or percentage basis.
- Applicants who have taken a diploma after class 10th and have enrolled for graduation or post-graduation can also apply for the scheme.
- The annual income of the family of the applicant should be less than 6 lakhs rupees.
- Applicants who have taken an educational loans from scheduled banks after 4th July 2017 to pursue higher education can also apply for the scheme.
- The interest subsidy scheme is applicable for graduation, post0graduation, diploma, and professional courses.
Students who have dropped out of middle school or those who were expelled from school are not eligible to apply for the scheme.
Gujarat Government Education Loan Documents required
The applicant should possess the following documents while applying for the scheme-
- Duly signed application form affixed with passport size photograph.
- Class 12th Marksheet or Diploma on the basis of class 10th.
- Income proof of the family or the applicant.
- A copy of income tax return or self-declaration certificate for non-It return.
- Copy of Aadhar Card.
- Residential proof of the applicant. (Passport, ration card, driving license, telephone or electricity bill)
- Bank documents (Copy of loan application form, copy of loan agreement, sanction letter authorized by bank, disbursement letter authorized by bank, copy of the first page of bank passbook, and a canceled check).
- Copy of passport, copy of visa, or visa passed letter.
- Copy of the name of the college and university documents.
- Copy of admission letter from the university, copy of the free receipt of the university.
- A self-declaration certificate for no other scheme benefits taken by the candidate (in KCG format).
Gujarat Education Loan Subsidy 2022
How to apply for the Gujarat Educational Loan interest scheme?
Students will have to register themselves to avail the benefits of the scheme. To register for the scheme online follow the following steps-
- First, visit the official portal of Knowledge Consortium of Gujarat at gujarat.gov.in.
- On the home page, there will be an option “Interest Subsidy Scheme on education loan (Registration open). Click on that option or click directly on this link https://kcg.gujarat.gov.in/education_loan/.
- On the top of the page, click on the link “Online Registration Form for interest subsidy Scheme on education loan”.
- Then a form will appear on the screen “Application form for interest subsidy scheme on education loan”.
- In this form, the applicant will have to fill in all the details as directed. The details will include name, e-mail id, contact number, Aadhaar number, diploma passing year, stream, family’s total annual income, username, password and then click on the “Register” button.
- After filling in all the information, then the applicant will have to fill in all the scholarship information in the Gujarat Government Education Loan scheme.
- The applicant will have to enter all the details very carefully.
- Then enter all the details related to the scholarship and click to save. After that edit the profile again and complete the Gujarat Education loan interest subsidy scheme online registration.
- After this candidate must download the acknowledgment slip.
- In case of any discrepancy or if the candidate faces any problem in filling the application form, he or she can contact the direct helpline number mentioned on the portal. 9909039380.
Gujarat Govt Education Loan Online Application
Instructions to be followed for Gujarat Government Education Loan scheme
- The applicant of the scheme should be a resident of Gujarat who has passed class 12th with at least 60% marks or above.
- The annual gross income of the family of the applicant should be less than Rs. 6 lakhs.
- The applicant should have passed class 12th from a recognized school and board.
- The applicant should have taken admission to a recognized college or university in India or abroad.
- The applicant must have availed loan from the scheduled bank before 4th July 2017.
- The subsidy on interest will be provided on a loan amount above Rs. 10 lakhs. If the applicant’s loan amount is below the stated amount, then he is not qualified for the scheme.
- The applicant will have to pay no extra charges to the bank.
- The scheme does not encourage education loans.
- The applicant of the scheme will have to fill out the registration form on the official KCG website online.
- The offline application will not be accepted.
- The applicant can be called in for personal verification of documents or application forms.
- If the student is studying abroad, the power of attorney will be considered. Only the father or mother of the student can sign the documents in Bank.