Government of India envisioned that no student will
be denied education only because he/she is poor. This vision of the government
took shape when Indian Bank’s Association planned a model education loan scheme
whose aim was to provide educational loans to students from economically weaker
sections. In keeping with the governments vision, Canara Bank is providing this
scheme on loans.
This model education loan scheme was named Central
Scheme of Interest Subsidy for Educational Loans. Some important points regarding this loan
scheme is:
1. This
loan scheme is available only for studying approved courses of undergraduate
and post graduate levels in technical and professional streams offered by recognized
institutes.
2. Student
must belong to Economically Weaker Section with annual family income of Rs. 4.5
lakhs.
3. Full
interest subsidy during moratorium period (6 months or 1 year after getting employed).
4. Scheme
is applicable on loan amounts availed during April 1, 2009 to March 31, 2010.
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