New Delhi: In order to provide education to the scheduled tribes, the Tribal Affairs and Panchayati Raj Minister V Kishore Chandra Deo announced an education loan policy for the tribal students. Under the ‘Tribal Education Loan Policy’ launched by the National Scheduled Tribes Finance and Development Corporation (NSTFDC), the students can easily avail loan at six percent interest rate for higher and technical education.
Speaking on the occasion, Deo said, “The seats reserved for the scheduled tribes often remained vacant due to the high fee which are out of their financial bounds. Poverty has acted a hurdle in their aim to pursue higher education.Hence, the government has launched this scheme.”
The ST students will be provided loan up to Rs 5 lakhs at concessional rate for higher, professional and technical education including Ph.D.
The loan will be provided for education in colleges and universities recognized with the University Grants Commission, government, AICTE and ICMR.
The loan policy is also being linked to the interest subsidy policy of the Human Resource Ministry which will enable poor students to avail subsidized interest rates during the moratorium period.
The present limit on annual family income for the candidates willing to avail the scheme is Rs 39,500 for rural areas and Rs 54,500 for urban areas.
The loan would cover basic expenses for admission, examination, library, laboratory and tuition fee including the cost of books and stationery computers, study tours, project and thesis along with an insurance premium for student.
The NSTFDC was established in April 2001 which runs various welfare schemes for the scheduled tribes like Fixed loan policy, tribal women Empowerment policy, micro credit and self help policy.