Haryana Education Loan Scheme 2021 Apply Online at atmanirbhar.haryana.gov.in Haryana government has announced to start new education loan scheme 2021 for the students. Haryana Govt. Education Loan Scheme, State Govt. Will provide credit guarantee against education loan for students. CM Manohar Lal Khattar has made this announcement while replying on the state budget 2020-2021 in the first assembly on 4 March 2020. Earlier, students faced difficulties in getting loans for higher education due to lack of collateral guarantee required by banks.
To implement Haryana Govt. Education Loan Scheme 2021, Govt. Establish a credit guarantee fund for students under various categories of medical, engineering and other vocational courses. On completion of the course and earning hand, the students will have to return the loan amount to the banks. Provision for Haryana Government Education Loan Scheme 2021 has been made in the state budget.
Haryana Government Education Loan Scheme 2021
The main objective of the scheme is to enable the students belonging to the state of Haryana who wish to pass class 12th from institutions recognized by the Government of Haryana but unable to pursue higher education due to lack of collateral security. Such students will be provided an opportunity to study under the umbrella of this scheme.
Under this scheme, a State Government guarantee will be provided against a Higher Education Credit Guarantee Fund which will be created for loans under various categories for education so that the students of Haryana State do not need to provide for any collateral. Ho. The main objective of the scheme is to ensure that the students are not denied the opportunity of higher studies in professional and other institutions due to lack of collateral security. Under this scheme, a bank or member lending institution can avail the benefits in case of default/NPA by paying a nominal fee.
Highlights of Higher Education Credit Guarantee Fund
The scheme envisages creation of a fund named “Higher Education Credit Guarantee Fund”.
a) For availing the benefit of the fund, the member lending institution (MLIY/Bank shall pay an annual guarantee fee @ 0.3% of the total outstanding loan amount against their respective borrowers. Such fee is to be provided on annual basis and the same shall be non-refundable. -Refundable Annual Guarantee Fee amount will be recoverable from the students.
b) The interest charged by member lending institutions for education loans shall not exceed 2% over and above the repo rate announced by RBI from time to time. However, it can be modified later by the competent authority keeping in view the circumstances.
C) This fund will be utilized in case of default by the beneficiary in repayment of loan up to 100% of the principal amount along with interest to the Government. Medical Colleges of the State of Haryana, irrespective of accreditation status, with interest of 90% of the principal amount for admission to an institution having at least ‘A’ grading or higher in NAAC ranking and 75% of the principal amount of the loan with interest % 50% of the principal amount of loan along with interest in case of admission in ‘B’ and ‘C’ grading institution and for admission in D grade institute. For the balance amount, the bank/member lending institution will recover the same from the borrower.
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d) Government will provide guarantee to meet the tuition fee, hostel fee, bond amount, examination/library/lab fee and any kind of educational institution deposit expenses for education loans provided by Member Lending Institutions (MLIs) . However, the maximum amount that can be financed by Banks/MLIs in case of Medical Institutions is up to Rs.50.00 Lakh (only for Government Medical Colleges in Haryana State) and up to Rs.10.00 Lakh for other courses in both Government and Private Institutions . . The State Government reserves the right to add or remove any item of expenditure keeping in view the requirements of the Inter.
I) The interest earned during the moratorium period and course period will be added to the principal and will be repaid in Equated Monthly Installments (EMIs) with a repayment period of at least 15 years after the commencement of the repayment period, with repayment at any time. will be an option. Time without prepayment penalty.
F) The provisions mentioned in the scheme shall compulsorily apply to such member lending institutions. Once the student joins government service after completing the course, the government will pay the subsequent loan towards his bond amount, provided he appears and gets selected through due process.
g) The guarantee will be available to students who are residents of Haryana for courses other than MBBS offered by MLI in institutions located anywhere within the territorial jurisdiction of the Union of India.
- 100% of the principal amount of the loan along with interest will be guaranteed in case of students seeking admission in MBBS in Government Medical Colleges. Apart from this in relation to admission in other educational institutions.
- 90% of the principal amount of loan along with interest will be guaranteed in case of students who get admission in an institution which has at least ‘A’ grading in NAAC accreditation or above.
- 75% of the principal loan amount along with interest will be guaranteed in case of students seeking admission in an institution grading B++, B+, B & C under NAAC accreditation.
- 50% of the loan will be guaranteed in case of a student seeking admission in an institution having D grading in NAAC accreditation.
- The margin money will be 2% of the loan sanctioned in respect of medical courses and 10% of the loan approved in respect of other courses.
Haryana Education Loan Scheme Online Application Form
Any student who has passed class 12th and got admission in a higher educational institution located in Haryana can apply through online portal (atmanirbhar.haryana.gov.in) or mobile app or through Saral Kendras prepared by the State Level Banker can apply online on the normal application made. Committee (SLBC). Given below is the complete procedure to fill Haryana Education Loan Scheme online application form:-
Phase 1: Firstly go to the official website https://atmanirbhar.haryana.gov.in/frontend/web/
step 2: On the homepage, click on “bank loan applicationTab as shown below:-
step 3: On clicking this link, Haryana Education Loan Scheme Online Application Form will appear as shown below:-
step 4: Here applicants can select the loan type, bank, district/UT, branch and click on “”to headButton for filling Haryana Education Loan Scheme Online Registration / Application Form.
Eligibility Criteria for Haryana Government Education Loan Scheme
Students who have passed class 12th, are residents of Haryana State with I-Card/PPP (Family Identity Card) and whose family income does not exceed six lakhs per annum can be availed of the above benefits by reckoning from all sources. under the scheme for courses other than MBBS. However, there will be no income criteria for MBBS course. Any person who has qualified NEET exam and secured seat through open counseling will be eligible for such loan facility under the said scheme.
- If the student stops his studies before the completion of the course, then the benefit under the scheme will not be available.
- If the student is not able to complete the course within the stipulated period then the benefit under the scheme will not be provided. However, where such an event is due to resources that are beyond the control of the students as determined by the Department of Medical Education and Research or the Department of Higher Education and where the student attempts to complete the courses in a reasonable time The loan will be given by the state government.
implementation of the plan
- The banks which will agree to provide loan under the above scheme of the State Government will enter into a Memorandum of Understanding with the Government of Haryana (Finance Department). All cases received by the respective banks will be processed within the stipulated time frame and the details of the number of loans sanctioned, along with the details of the courses applied, will be provided by the member lending institution to IPCC (on behalf of the department). Finance) by SLBC on quarterly basis.
- Proper documentation for loan will be the responsibility of the respective banks as per their existing procedure.
- The Bank shall make an application to the Department of Medical Education and Research within the stipulated time after exhausting all the means available at its disposal for a claim of default by any student.
non payment of installment
In case of non-payment of three consecutive equated monthly installments after the beneficiary becomes due and the loan becomes NPA, the guarantee can be given by the bank/lending institution through the Credit Guarantee Fund by applying to the Department of Institutional Finance and Credit Control. (IFCC) with detailed justification.
Haryana Education Loan Scheme Announced (First Updated)
Haryana CM Manohar Lal Khattar announced a new education loan scheme for students pursuing medical, engineering and professional courses. Government. Will provide loan guarantee on education loan and there will be no need for banks to give collateral guarantee. The CM has made this announcement on the concluding day of the budget session of Haryana Vidhan Sabha. state government. A Credit Guarantee Fund will be set up for this purpose.
All the students are required to return the education loan amount to the banks after completing the study and moratorium period. The CM has also announced the creation of a separate Foreign Cooperation Department. This department will focus on the initiatives of the state government for the welfare of Non-Resident Indians (NRIs), investment and youth employment. A group of farmers, workers, students, teachers and representatives of Panchayati Raj Institutions and Urban Local Bodies will be sent on foreign tours.
From this tour, these officers will give information about the latest schemes at the global level. About 500 members of such different categories will be sent on foreign tours to different countries every year.
Know more about Haryana Education Loan Scheme – http://www.finhry.gov.in/FileUploads/Upload_e3143cad-3503-4054-ac68-17f3169b1962_.PDF
Application for Education Loan Scheme for Backward Classes in Haryana
Here is the direct link to fill application for Education Loan Scheme for Backward Classes in Haryana – https://services.india.gov.in/service/detail/application-for-education-loan-scheme-for-backward-classes-haryana-1
The corporation provides education loans to the members of the backward classes for pursuing vocational and technical education at graduation and higher level. under this scheme. The corporation is provided loan at the maximum interest rate of Rs.100000/- in India and Rs.2000000/- per annum abroad and loan is provided for girl students at 3.5% interest per annum. Apart from being co-terminus with the course for which the loan has been availed by the student, the moratorium will have a further period of six months for starting jobs.
For more information, visit the official website https://atmanirbhar.haryana.gov.in/frontend/web/