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Overview

One of the major objectives of the Government is to ensure that no student is denied the opportunity to pursue higher education because she or he is poor. To achieve this objective, Department of Higher Education (DHE) launched schemes to provide financial assistance to students who are economically weak to pursue their higher education, in the form of scholarships, interest subsidy on education loan and credit guarantees for education loan. All categories of students in the country (i.e., General, SC, ST, OBC and PwD) are eligible to get financial assistance as per the schematic norms. The various Schemes by Department of Higher Education (DHE) are:

PM-USP Central Sector Scheme of Scholarship for College and University Students

The objective is to provide financial assistance for pursuing higher education to successful meritorious students, who are above 80th percentile in Class XII or equivalent examination and whose annual family income is up to Rs. 4.5 lakh per annum.Scholarship is paid upto maximum of 5 years, Rs. 12,000 per annum for first three years and Rs. 20,000 for fourth and fifth year of study.

PM-USP Special Scholarship Scheme for Jammu & Kashmir and Ladakh

5000 fresh scholarships are awarded per annum to students from the UTs of J&K and Ladakh for pursuing graduate and integrated degree courses in the institutions outside the UTs of J&K and Ladakh, whose family income is up to Rs. 8.00 Lakh per annum. The rate of scholarship towards tuition fee for General Degree courses is Rs. 30,000 per annum, for Professional courses Rs. 1.25 Lakh per annum and for Medical studies Rs. 3.00 Lakh per annum. Fixed maintenance allowance of Rs. 1.00 Lakh per annum is provided to all students under the scheme.

PM-USP Central Sector Interest Subsidy Scheme (CSIS)

The objective of the scheme is to provide full interest subsidy during the moratorium period (course period plus one year), on education loan of up to Rs.10.00 lakh without any collateral security and third-party guarantee to eligible students. Family income ceiling is Rs. 4.50 Lakh per annum. Interest subsidy is eligible only for professional/technical programmes in NAAC accredited Institutions or accredited by NBA or Institutions of National Importance or Centrally Funded Technical Institutions (CFTIs).

PM Vidyalaxmi scheme

Under the PM Vidyalaxmi scheme, any student who gets admission in Quality Higher Education Institution (QHEIs) will be eligible to get collateral free, guarantor free loan from banks and financial institutions to cover full amount of tuition fees and other expenses related to the course. Further, a 3% interest subvention support during moratorium period will be given every year to one lakh fresh students having an annual family income of up to Rs. 8 lakhs and not eligible for benefits under any other government scholarship or interest subvention schemes.

The External Scholarships

Ministry of Education, Department of Higher Education facilitates the process of scholarships/fellowships offered by the foreign countries under Cultural/Educational Exchange Programmes.

No Obligation to Return to India (NORI) Certificate

The Ministry also issues No Objection Certificate (NOC) necessary for No Obligation to Return to India (NORI) Certificate issued by the Ministry of External Affairs required by students who went to the USA with J1 Visa.

Last Updated by admin on Thursday, 5 December 2024 - 5:17pm