New Education Loan Scheme (NSFDC)

Today when there education is very important and prime factor considered to survive in the society and brought maximum development in Scheduled Castes, there are many people still who are not capable of taking benefits of education and hence they and their children are suffering. They are having very miserable lifestyle. To overcome this problem government of India came with the scheme named New Education Loan Scheme which is provided by National Scheduled Castes Finance and Development Corporation (NSFDC). NSFDC is the body governed by Ministry of Social Justice and Empowerment. Under the scheme the beneficiary is given education loan at very low rate of interest on satisfying certain conditions. By loan beneficiary can avail all benefits and can fulfill their education dream.

Benefits of New Education Loan Scheme:

• Loan to study in India: Student who want to study in India can avail loan of up to Rs. 10 lakhs
• Loan for higher education: Student willing to study from foreign country can also get loan of up to Rs. 20 lakhs
• Low rate of interest: The loan granted has very low rate of interest of 4% per annum
• No expenditure at beneficiary side: Loan covers up to 90% of expenses and remaining 10% is covered by State Channelising Agency (SCA)s if necessary
• Coverage of complete expense: Loan covers Admission fee, Tuition fee, Books, Stationery, Equipment, Examination, Hostel & Mess Expenses and more
• Maximum repayment period: For loan up to Rs. 7.50 lakhs repayment period is 10 years and loan above that repayment period is 15 years

Eligibility for National Scheduled Castes Finance and Development Corporation:

1. Beneficiary should belong to below double poverty line
2. Beneficiary must be from SC category
3. Family annual income should not be more than Rs. 1, 20,000 in urban area and Rs. 98, 000 in rural areas

Documents Required:

1. Caste Certificate
2. Aadhar Card
3. Below Double Poverty Line (DPL) card
4. Electricity bill
5. Family’s annual income certificate
6. Bank pass book having (bank name, branch name, account holder name, IFSC & MICR code)
7. Applicants all educational mark sheets and degree certificates till date

Application form:

Application forms are available at State Channelising Agencies (SCA) office situated at his/her local residence. Or follow the link of pdf (http://www.nsfdc.nic.in/writereaddata/New%20Educational%20Loan%20Policy.pdf) and in that annexure is to be filled by applicant/SCA which will be forwarded to NSFDC and after thorough review loan is sanctioned

Whom to contact where to contact for more information about the scheme:

1. State Channelising Agency (SCA)
2. Tehesildar
3. Sub Divisional Magistrate
4. District Collector
5. Head Office: 14^th Floor, Scope Minar, Core ‘1’ & ‘2’, North Tower                                                                                                           Laxmi Nagar District Center,
   Laxmi Nagar,
   Delhi- 110092
   Phone: (91-11)-22054391/92/94/95/96
   Fax: (91-11)-22054395/49
   E-mail: support-nsfdc@nic.in
   Website: www.nsfdc.nic.in

References and Details:

For more details about the scheme kindly visit the following link

1. http://www.nsfdc.nic.in/
2. http://www.nsfdc.nic.in/writereaddata/New%20Educational%20Loan%20Policy.pdf