Central Sector Scheme of Scholarship for College and University Students

The Scheme is in operational since 2008. The objective of the scheme is to provide financial assistance to the meritorious students having family income of less than Rs.6 lakh per annum, to meet a part of their day-to-day expenses while pursuing higher studies. Annual target is 82000 scholarships per year (41000 for boys and 41000 for girls) which has been divided amongst the State Education Boards based on the State’s population in the age group of 18-25 years. Students who are above 80th percentile of successful candidates in the relevant stream from a particular Board of Examination in class XII and pursuing regular course and not availing benefit of any other scholarships, are eligible to apply under this Scheme. The rate of scholarship is Rs. 10,000/- per annum for the first three years and Rs. 20,000/- per annum for the fourth and fifth year.

The Central Sector Scheme of Scholarship for College and University Students is covered under the Direct Benefit Transfer (DBT) w.e.f. 1.1.2013 wherein the scholarship is being disbursed directly into the bank account of the beneficiaries.

For receiving scholarship benefit under Central Sector Scheme of Scholarship for College and University Student an individual shall furnish proof of possession of Aadhaar or undergo Aadhaar authentication by 30.06.2017. Till the time Aadhaar is assigned to the individual following alternatives can be used :-

• Aadhaar Enrolment ID slip
• Application made for Aadhaar enrolment
• Voter identity card
• Permanent Account Number
• Passport
• Driving License
• Certificate of identity having photo of such member issued by a Gazetted Officer or a Tehsildar on an official letter head;
• Identity Card issued by the college or institute or university
• Any other document with photo specified by the State Government.

‘Central Sector Scheme of Scholarship for College and University Students’ has on boarded the National Scholarship portal http://www.scholarships.gov.in/ with effect from 1.8.2015 wherein the Class XII pass out students of academic year 2015 onwards are required to apply online. Class XII pass out students of academic year 2008 to 2014, are required to obtain the renewal application blank form from the respective State Education Board and submit their renewal application form duly certified from the respective institutions to the effect that the student has secured 60 % marks in the previous exam, has 75 % attendance and not involved in any ragging activities. The certified application form is required to be submitted to his/her respective State Education Board.
Schedule indicting opening, closing and verification of online applications in National Scholarship Portal under the "Central Sector Scheme of Scholarship for College and University Students" for fresh and renewals
Top 20th percentile list for academic year 2019-20 in respect of “Council for the Indian School Certificate Examination (CISCE)” under the Central Sector Scheme of Scholarship for College and University Students

Special Scholarship Scheme for Jammu & Kashmir

The Special Scholarship Scheme for Jammu & Kashmir aims at encouraging the youth from Jammu & Kashmir to take advantage of the educational institutions outside the State, which would provide them an opportunity, to interact with their counterpart from the rest of the country, thereby be part of the mainstream. It is envisaged to provide 5000 fresh scholarships every year. There is a provision of inter-changeability of slots among Medical and Engineering stream, subject to the savings accruing from any shortfall in the number of students opting for General Degree courses. Scholarship is provided towards Tuition fee and Maintenance allowance. The rate of scholarship towards tuition fee for General Degree courses is Rs.30,000 per annum, for Engineering course Rs.1.25 lakh per annum and for Medical studies Rs.3.0 lakh per annum. Fixed Maintenance allowance of Rs. 1.0 lakh per annum is provided to all students under the scheme. Inter Ministerial Committee is constituted to oversee the implementation and monitoring of the scheme. Eligibility criteria The students of Jammu & Kashmir whose family income is less than Rs.6.0 lakh per annum and have passed class XII from the State and secured admission outside the State in the institutions which are either approved under Section 12 B of the UGC Act or recognized by AICTE or respective regulatory body are eligible to apply for the scheme. The students are required to apply online on the AICTE web portal – http://www.aicte-jk-scholarship-gov.in/ Categories of Students NOT eligible under the scheme are:

• Students pursing courses through Open Universities.
• Students availing benefit of other scholarships schemes.
• Students gaining admission through ‘management quota’.
• Students pursuing courses, such as Diploma Courses, not leading to award of a Degree.
• Students pursuing Post Graduate level studies, in any discipline.
• Students having family income over Rs. 6 lakhs per annum.
• Students admitted to non 12B of UGC Act and non approved AICTE institutions.

Technology is being used extensively to bring in transparency and accountability of the process. For greater participation of the students, certain initiatives have been taken viz. students had an option, to either go to the institutions allotted through centralised counselling or take admission on their own in institutions which are either approved under 12 B of the UGC Act or approved by AICTE or by the respective regulatory body. Scholarship amount towards maintenance allowance is disbursed directly into the bank account of the students through the Direct Benefit Transfer mode. Ten supernumerary quota and two to three supernumerary quota are created in Engineering and Nursing Colleges respectively. Further, to bring awareness about the scheme, workshops are organised across the state. These initiatives aim to ensure that no deserving students are deprived of the benefits under the scheme. An Inter-Ministerial Committee (IMC) – on Special Scholarship Scheme for Jammu & Kashmir has been constituted for better and effective implementation and monitoring of this Scheme.

Scheme of Scholarship to students from Non-Hindi Speaking States for Post-Matric Studies in Hindi

The objectives of the Scheme is to encourage the study of Hindi in non-Hindi speaking States and to make available to the State Governments, suitable personnel to man teaching and other posts where knowledge of Hindi is essential.
The Scheme was revised from 2004-05. Under the revised Scheme, 2500 Scholarships are provided to meritorious students studying at Post-Matric to Ph.D level, for recognized fulltime courses of education for study of Hindi as one of the subjects on the basis of the results of “examinations next below” conducted by a Board of Education or a University or a Voluntary Hindi Organisation. The rate of Scholarship ranges from Rs.300/- to 1000/- per month depending upon the course/stage of study. This scheme is implemented through the State Government /UT Administrations.
In case of any grievances/complaint regarding the above schemes the same may be registered to the following link http://pgportal.gov.in/grievancenew.aspx.

Quality education is crucial to creating a successful life for a student. However, with increasing college fees every year, it becomes difficult for a student to have a quality education. Education in India, especially in premier educational institutions, is quite expensive. And in many cases, even if a student is qualified to get admission purely on merit, it becomes difficult to study in such institutions due to financial constraint. Cost of education in India is anywhere between Rs.5 lakhs and Rs.12 lakhs for undergraduate engineering courses. For medical courses in India, the fees can rise up to 50 lakhs in private colleges. Business schools in India charge more than Rs.10 lakhs. In abroad, cost of higher education is much higher. Again, fees in private colleges are always more than the government colleges. Under such circumstances, students look for education loans in India. With so many banks offering education loans, it is also very confusing for parents and students to choose the best one. We give below a brief idea on how to get the right education loan.

• Education Loan versus Personal Loan
  Many parents might feel that taking a personal loan for higher education is beneficial. But as a matter of fact, this is not true. You take personal loan at a higher rate of interest and you end up paying more. Instead, an education loan comes with a number of benefits and conveniences and is specially meant to be given for education which serves the purpose of the students.
• Comprehensive Educational Loan Scheme: Government of India The Government of India has framed a Comprehensive Educational Loan Scheme in consultation with Indian Banker’s Association (IBA) and the Reserve Bank of India (RBI). The scheme covers all type of courses in schools and colleges in India and abroad.
• Benefits of Education Loans
  • Applicable for all : Any student who wants to study can apply for an education loan. Even the economically backward sections of the society can take education loans under the government-sponsored subsidy schemes such as ‘Central Scheme to provide Interest subsidy’ (CSIS).
  • Applicable for all courses : Education loan can be used to pursue all types of courses — graduation, post-graduation, diploma courses, vocational courses — whether in India or in foreign universities.
  • Easily available : Education loans are widely and easily available. In fact, they are a priority product in all banks as per the RBI’s guidelines.
  • Varied loan amounts : Banks can offer loans anywhere between Rs.2 lakhs and Rs.22 lakhs for studying in India. Of course, the size of the loan depends on the course applied for. To study abroad, the loan amount goes up to Rs.20 lakhs.
  • Helps in completion of education : The expense curve of education is increasing with inflation and shifting prices. To avoid hindrances in studies, education loans become essential.
  • Benefits : Education loans include many additional benefits like caution deposits, library fees, building deposits, laboratory fees, tuition, examination fees, hostel fees, money for buying books, instruments and uniform, travel expenses for studies abroad, etc.
  • Low interest rate for females : Usually female students are offered loans at lower interest rates.
  • Easy repayment : Also, another great advantage of education loan is that the loan amount need not be repaid immediately. The repayment tenure can extend up to 5 to 7 years after the completion of the course. This makes it easy for repayment.
• Conditions to apply for education loans in India Some basic requirements need to be fulfilled while taking a loan. These conditions are as follows:
  • The main determinants are the fees of the course to be pursued and the applicant’s annual family income.
  • There must be a co-applicant, which can be either one of the parents or sibling or spouse.
  • Loans below Rs.4 lakhs do not require a guarantor or security.
  • For loans above Rs.4 lakhs, there should be a third-party guarantor.
  • For loan amount more than Rs.7.5 lakh, a collateral is necessary.
  • For studying abroad, a student must also look for part-time jobs or sponsorship as the loan amount itself is not sufficient.
  • Insurance is compulsory for studying abroad.
• Repayment of loans
  • The repayment process should immediately start after 6 months to 1 year of completion of the course, though it can be extended to 5 to 7 years.
  • In case of non-repayment, the student’s own credit history as well as his co-applicant’s history gets affected.
• Interest rates of education loan In India, interest rates for education loans vary according to banks. However, it can be anywhere between 12.00 % and 16.00 %, which of course depends on the bank’s base lending rate and other factors. The base lending rate for banks in India, as directed by the RBI, is around 9- 10%.
• Important tips before applying for education loan
  • You should carefully consider the financial capabilities and liabilities of your family and then opt for an education loan, with the intention of repaying it on time so as to not to include you and your parent’s name in the defaulters list.
  • Education loan is more like an investment. Low interest rate, even of it is 0.5% less, along with a longer repayment period is more helpful. So, it is very essential that you should carefully study and understand the conditions for applying in different banks before choosing the most favorable bank.
  • When the bank is finally chosen, make sure you read all the terms and conditions and checklists of the loan application form because there might be some hidden costs as well.
  • You should usually choose a bank which provides the facility for extension of the repayment tenure in case of delay under unforeseen circumstances.
  • Students from the economically weaker strata of society should opt for government-controlled banks as they offer some benefits in the form of interest-subsidy for students.
  • Also, know in details what does your education loan cover? The loan amount does not come to you. It goes directly to the institution where you want to study, at the beginning of each semester. Hence, it should cover all the benefits and services offered so that you do not have to incur any additional costs.