Education Loan Scheme - Delhi

About This Scheme

"Education Loan Scheme" by the Delhi SC/ST/OBC/Minorities and Handicapped Financial Development Corporation Ltd., Government of Delhi, aims to provide financial assistance to students belonging to Scheduled Castes (SC), Scheduled Tribes (ST), Other Backward Classes (OBC), Minorities, and Persons with Disabilities (PwD) for pursuing professional and technical courses in recognized institutions in India and abroad. The scheme offers need-based loans with a maximum limit of ₹7,50,000/- for studies in India and ₹15,00,000/- for studies abroad. To be eligible the applicant must be a permanent resident of Delhi, with an annual family income below ₹5,00,000/-.

What You Get

As set out by Government of India.

• Need-based finance with a ceiling of ₹7,50,000/- for studies in India.
• Need-based finance with a ceiling of ₹15,00,000/- for studies abroad.
• No promoter’s contribution required for loans up to ₹4,00,000/-.
• For loans above ₹4,00,000/-, 5% contribution is required for studies in India and 15% for studies abroad.
• Loan repayment period is up to 10 years after the commencement of repayment or until the date of employment, whichever is earlier.
• The applicant has the option to repay the loan earlier if desired.

Am I Eligible?

You may be eligible if all of these are true for you.

• The applicant must be a permanent resident of Delhi.
• The applicant should be from one of the following target groups - Scheduled Caste, Scheduled Tribe, Other Backward Class, Minority, Persons with Disability.
• The annual income of parents/guardian should be below ₹5,00,000/-.
• The applicant must have secured admission in a recognized/Government/Technical Institution in India or abroad.
• The College/Institute should have been offering the course for the last three years.
• The College/Institute should be recognized by the Central/State Government or by appropriate authorities such as UGC (University Grants Commission), AICTE (All India Council for Technical Education), etc.
• The duration of the course should not exceed 5 years.
• Post Sanction Eligibility for the Borrower

Final eligibility is decided by the government department handling this scheme.

Required Documents

myScheme, Government of India does not list the documents for this scheme. The department's own website often does - check the official links below before you set off, or ask at the office where you apply.

How to Apply

1. 1 The application form for the Education Loan Scheme is available free of cost at the following branches:
2. 2 Carefully fill out the application form in black ink using a ball pen. Ensure all required details are accurately provided, including personal information, course details, and financial information. Fill in all the mandatory fields, paste the passport-sized photograph, and attach copies of all the mandatory documents (self-attest, if required).
3. 3 Submit the duly filled application form along with the required documents to - The Deputy Manager (Education Loan) in Room No. 208, 2nd Floor, Ambedkar Bhawan, Sector-16, Rohini, Delhi-89.

Official Documents and Links

Published by the department that runs this scheme.

• Guidelines
• Application Form