(a) whether the Government has decided to grant 100 per
cent subsidy on the interest of education loan granted to
the poor students;
(b) if so, the details thereof alongwith the number of
students likely to be benefited;
(c) whether any income criteria has been fixed so as to
identify the poor students;
(d) if so, the details thereof;
(e) whether the time period for such subsidy scheme has
been prescribed; and
(f) if so, the details thereof?
MINISTER OF STATE IN THE MINISTRY OF HUMAN RESOURCE DEVELOPMENT(Dr. D. PURANDESWARI)
(a): The Government has launched a new Central Scheme
to provide full interest subsidy on Educational Loans during
the period of moratorium (i.e. duration of a recognised
professional course plus 1 year, or 6 moths after employment
–whichever is earlier) on educational loans under the
Indian Banks` Association (IBA) loan scheme for students
belonging to economically weaker sections.
(b): The details of the scheme are available on this
Ministry`s website at www.education.nic.in. It is estimated
that about 5 lakhs students would be availing the
educational loan every year.
(c) & (d): To be eligible for loan, annual parental
family income from all sources should be Rs.4.50 lakhs or
less.
(e) & (f): The scheme has become effective from the
academic year 2009-10. The loan taken after 1st April, 2009
will be eligible for interest subsidy under the scheme. No
prospective time limit has been prescribed under the scheme.