Education Loan and Scholarship Schemes- Vidya Lakshmi Portal (Download PDF)

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

Vidya Lakshmi Portal

Government Schemes for Education Loans

Government provides interest subsidy for education loan through following schemes:

  • Central Scheme to provide Interest Subsidy (CSIS) : Full interest subsidy available to economically weaker students, for studies in India, for educational loans disbursed on or after 1st April, 2009 during the period of moratorium.
  • Padho Pardesh Scheme: Awards interest subsidy to meritorious economically weaker students of notified minority communities for overseas studies.
  • Dr Ambedkar Central Sector Scheme of Interest Subsidy on Educational Loan for Overseas Studies for Other Backward Classes: Interest payable for the period of moratorium is borne by the Government.
  • Vidya Lakshmi Portal allows students to apply online and track education loans facilitating processing and disbursal of loans.
  • Credit Guarantee Fund Scheme for Education Loans (CGFSEL) : Provides collateral free loan upto ₹ 7.5 lakh.

Scholarships Schemes

Scholarship for weaker sections of the society provides encouragement for talented students without means to study. Scholarships are merit-based, need-based, student-specific, career-specific, and college-specific.

Department of Higher Education offers National Scholarship facilitates and the nomination process for the External Scholarships offered by various countries.

National Scholarships

  • Central Sector Scheme of Scholarship for College and University Students
  • Special Scholarship Scheme for Jammu & Kashmir
  • Scheme for Scholarship to Students from Non-Hindi Speaking States for Post Matric Studies in Hindi

External Scholarships

  • Commonwealth Scholarships for United Kingdom and New Zealand
  • Scholarships offered by China, South Korea, Israel, Japan, Italy, Mexico, and Sri Lanka.
  • Agatha Harrison Memorial Fellowship
  • The Ministry also issue No Obligation to Return to India (NORI) Certificate required by Indian Immigrants in Canada, USA, Singapore, etc.

- Published/Last Modified on: September 1, 2017

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