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Tripura Govt targets 1500 Educational loans in 2019-20 for meritorious students under CSIS scheme for Professional / Technical courses in High Education
TIWN June 29, 2019
Tripura Govt targets 1500 Educational loans in 2019-20 for meritorious students under CSIS scheme for Professional / Technical courses in High Education
PHOTO : JE-Exam (File Photo)

AGARTALA, June 29 (TIWN): Govt of Tripura has taken firm decision to ease the Education loan issues. In an official letter to the Chief Secretary and Principal Secretary to CM, Saumya Gupta RD Dept Secretary said, sanction of Educational loans under CSIS would overcome the financial distress of the meritorious students. The Govt has targeted 1500 loans this year and also aimed to aware the beneficiaries. It can be mentioned here that one of the major objectives of the Government is to ensure that no student is denied the opportunity to pursue higher education because he or she is poor. To achieve this objective, Ministry of Human Resource Development (MHRD) launched a Scheme titled "Central Sector Interest Subsidy Scheme" (CSIS) in 2009. The scheme provides full interest subsidy during the moratorium period on modern education loans without any collateral security and third-party guarantee, for pursuing technical/professional courses in India. Students whose annual gross parental/ family income is up to Rs.4.5 lakhs are eligible under the scheme. The existing Scheme has been modified with the approval of the Cabinet on March 28th, 2018.

The Scheme is adopted by all Scheduled Banks and is linked with the existing Model Educational Loan scheme of the Indian Banks' Association, and restricted to students enrolled in professional/ technical courses only from NAAC accredited Institutions or professional/ technical programmes accredited by NBA or Institutions of National Importance or Central Funded Technical Institutions (CFTIs). Those Professional Institutions/programmes, which do not come under the ambit of NAAC or NBA, would require approval of the respective regulatory body viz, approval of Medical Council of India for Medical courses, Nursing Council of lndia for Nursing courses, Bar Council of India for Law etc. The scheme is applicable to students belonging to Economically Weaker Sections, i.e. students whose annual gross parental income is up to Rs.4.5 lakhs. Subsidy is admissible only once either for undergraduate or post graduate or integrated course. Under the scheme, education Ioan is provided without any collateral security and third-party guarantee and for a maximum amount of Rs. 7.5 lakhs.


Eligibility 

  1. Education Loans taken under IBA Model Education Loan Scheme.
  2. Students having parental income up to Rs. 4.5 lakhs per annum.
  3. Students enrolled in professional/ technical courses only from NAAC accredited institutions or professional/ technical programmes accredited by NBA or Institutions of National Importance or Central Funded Technical Institutions (CFTIs). Those Professional lnstitutions/programmes, which do not come under the ambit of NAAC or NBA, would require approval of the respective regulatory body viz, approval of Medical Council of lndia for Medical courses, Nursing Council of lndia for Nursing courses, Bar Council of India for Law etc.
  4. Admissible only for once either for UG, PG- Also admissible for integrated courses (graduate + post graduate).
  5. Interest Subsidy under this Scheme shall not be available to those students who discontinue their course midstream, or who are expelled from the Institution on disciplinary or academic grounds. However, the interest subsidy would be available only if discontinuation is due to medical grounds for which necessary documentation to the satisfaction of the Head of educational institution needs to be provided.
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