Objective
The Scheme aims at providing financial support for pursuing higher education in Delhi.
Purpose
- Fee payable to college/ school/ hostel
- Examination/ Library/ Laboratory fee
- Insurance premium for student borrower
- Caution deposit, Building fund / refundable deposit supported by Institution bills/receipts
- Purchase of books/ equipment / instruments / uniforms
- Purchase of computer at reasonable cost, if required for completion of the course
- Any other expense required to complete the course – like study tours, project work, thesis, etc
- While computing the loan required, scholarships, fee waiver etc., if any available to the student borrower may be taken into account.
- If the scholarship component is included in the loan assessment, it may be ensured that the scholarship amount gets credited to the loan account when received from the Government.
Eligibility
- Should be an Indian national.
- Students who wish to pursue diploma or degree or Specified skill development courses in Delhi and have done their Class-X and Class –XII from Delhi are eligible under this Scheme
- The student should have secured admission to a higher education course or specified Skill development courses (diploma or degree including bachelors, Masters and Doctoral Degree) in recognized institutions in Delhi through Entrance Test/ Merit Based Selection process after completion of Secondary Examination/ Senior Secondary Examination/ required qualifying examination.
Loan Amount
Need Based finance to meet expenses on course subject to Max Rs 10.00 lacs.
Margin
Nil
Security
Parent(s)/guardian as joint borrower.No tangible Security and /or 3rd party guarantee is required.
Repayment (Maximum)
Max 15 years
Repayment Holiday/ Moratorium
Course period + 1 year
Prepayment Charges
NIL