Details
“Scheme for Soft Loan to the Grant-in-aid/ Non-grant in Aid Institutions for Maintenance and Upgradation of Infrastructure Facilities” is a Loan Scheme by the Directorate of Higher Education, Government of Goa. The objective of the scheme is to support the efforts of the management of the Non-Government aided institutions/non-grant-in-aid institutions for the upgradation and maintenance of infrastructural facilities for promoting a conducive atmosphere for learning.
Benefits
As Goa Education Development Corporation is a Grant in Aid Corporation, Soft loan beneficiaries are assisted by taking loans from Economic Development Corporation and further disbursing it as below:
50% of the Loan Amount
Released immediately on the issue of sanction order by the Directorate of Higher Education.
40% of the Loan Amount
Released on the production of a certificate from a Government Registered Engineer duly signed by a Chartered Accountant and College Principal/Head of Institution; to the effect that the first instalment of 50% has been fully utilized for the purpose for which it was granted.
10% of the Loan Amount
Released subject to the following three conditions:
a) Production of a certificate from a Government Registered Engineer duly signed by a Chartered Accountant and College Principal/Head of Institution; to the effect that 40% of the loan amount has been fully utilized for the purpose for which it was granted.
b) The project is completed and a completion certificate for that effect is produced by the Management.
c) The occupancy certificate is issued by a competent authority to the satisfaction of the Directorate of Higher Education.
Eligibility
All the aided/non-aided institutions of higher learning, including institutions providing professional courses, shall be eligible to apply for the loan subject to the following conditions:
- The institution should be situated in Goa.
- The society which runs the institution should have been registered under the Societies Registration Act.
- The institution should have been in operation for at least 10 years, preceding the date of application of the loan.
- The institution should have a minimum strength of 300 students on campus.
- The average passing percentage should not be below 60% in the last three years out of five years immediately preceding the date of application for the loan.
- The institution seeking the loan should meet ANY ONE of the following two requirements:
a) The institutions concerned should be affiliated with Goa University.
b) The institutions should have been recognized by AICTE/MCI/ACI/DCI or any other statutory body of the Government of India/Government of Goa.
A special preference shall be given to the institutions from less developed Taluka’s such as Canacona, Pernem, Sattari, Sanquelim, Quepem, Bicholim and Sanguem.
- Since the financial facilities under the scheme at any point in time are limited, priority would be given to the older institutions over the newer ones.
Application Process
Offline
Step 1: In the prescribed format of the application form, fill in all the mandatory fields, and attach copies of all the mandatory documents.
Step 2: Get the application duly signed by the Chairman of the Society.
Step 3: Send the duly filled and signed application to:
The Directorate of Higher Education, SCERT building, Porvorim, Penha de França, Goa – 403 521
Step 4: Acquire the receipt/acknowledgement of the successful submission of the application from the Directorate.
Documents Required
- An approved plan of construction.
- The cost estimate of the project, duly certified by a Registered Engineer and Chartered Accountant.
- The latest audited statements of accounts of the institution.
- Documents of the sale deed/long lease deed or any other documents which indicate the ownership of the land where the building will stand.
