Details
The scheme “Mukhya Mantri Gyandeep Yojna” was launched by the Higher Education Department, Government of Himachal Pradesh for all those students of the State who avail of educational loans from any Bank for pursuing professional/technical courses and higher education courses from recognized Institutions in India. The scheme shall be applicable for educational loans disbursed from the academic year 2016-17 starting from 1st April 2016 irrespective of the date of sanction of the education loan.
The objective of the scheme is to provide financial support in the form of interest subsidy on Educational Loans availed from Banks by Himachali Students for pursuing Higher Education in India and Abroad.
Benefits
- Under this Scheme, Interest subsidy is admissible from any bank on an education loan availed up to the maximum of ₹10 lakhs.
- Interest subsidy to the extent of 4% per annum on education loans will be allowed.
Note: Interest subsidy will be provided on interest charged on eligible education loan accounts during the repayment/ holiday/ moratorium period i.e. course period plus moratorium period of a maximum of one year.
Eligibility
- The student should be a Bonafide Himachali.
- The students of the State who avail of educational loans from any Bank for pursuing professional/technical courses and higher education courses from recognized Institutions in India are eligible to apply under this scheme.
- The interest subsidy shall be available to eligible students only if no other interest subsidy on education Loans is availed under any other scheme of the State Government/Government of India.