New Study Loan Scheme launched for Tribal Students: Union Government
Union Government has launched a new study loan scheme for tribal students. The loan will be provided to students at a concessional rate and it will be given to students whose annual family income is upto double the poverty line. At present, the limit is Rs.39, 500/- p.a. for rural areas and Rs.54, 500/- p.a. for the urban areas.
While launching the scheme, Tribal Affairs Minister V. Kishore Chandra Deo said that eligible candidates should apply to the respective State Channelising Agencies of National Scheduled Tribes Finance and Development Corporation (NSTFDC) located in their domicile State or union territory.
Up till 90% of the total expenditure will be given to the students and the ROI on the loan will be 6%. The time period for repayment of loan is 5 years, with a maximum period of 10 years. This period will start after a year of completing the course or after six months of getting a job.
