The Comprehensive Educational Loan Scheme is a flagship initiative by the Department of Personnel, Reforms, Training, and Public Grievances, Government of Sikkim. This scheme promises interest-free loans to students pursuing professional courses in recognized institutions, both in India and abroad. It includes a moratorium of one year post-course completion, allowing students time to find employment before repayment. Special provisions are made for BPL family students to ensure equitable access to higher education.
Advantages
- Loan Amounts:
- ₹5,00,000 for full-time professional courses in Sikkim
- ₹7,50,000 for studies in India
- ₹15,00,000 for studies abroad
- Interest-Free Loans:
- The loan is interest-free for the entire course duration plus the one-year moratorium period
- Repayment Conditions:
- In case of withdrawal or death of the loanee, the co-applicant must repay the entire amount within one year
Eligibility Conditions
- Domicile & Educational Qualifications:
- The applicant must be a domicile of Sikkim
- Must be enrolled in a professional course recognized by Indian or foreign authorities
- Income Category:
- For studies in India: Annual family income should not exceed ₹2,50,000
- For studies abroad: Annual family income should not exceed ₹5,00,000
- Special Provisions:
- Only one member per family is eligible, except for BPL families
- Loans for study within Sikkim are available only to BPL families
- Children of State Govt./Public Sector Undertaking employees are also eligible
- Institution Criteria:
- Institutions must be recognized by appropriate authorities in India or abroad
Offline Application Steps
- Visit Office:
- Application forms can be collected from the SIDICO office during working hours
- Filling up the Application Form:
- Fill in all the required details accurately
- Attach self-attested copies of the necessary documents
- Submission:
- Submit the duly filled application form with all documents at the SIDICO office
- Receipt or Acknowledgment:
- Collect a receipt or acknowledgment mentioning the date, time of submission, and any application number
Required Documents
- Income Certificate: Issued by the District Collector
- Proof of Admission: Admission letter from a reputed institute
- Affidavit of Non-Employment: Stating the applicant is not employed
- Project Viability & Technical Feasibility Certification: Diploma substantiating the course’s viability and technical feasibility
Frequently Asked Questions (FAQs)
- Who are eligible for the Comprehensive Educational Loan Scheme (CELS)?
- Students from Sikkim pursuing professional courses in recognized institutions, meeting the income criteria.
- Is there any quota for BPL families under CELS?
- Yes, special consideration is given to BPL families, particularly for studies in Sikkim.
- Can a family have more than one applicant for the loan?
- No, only one applicant per family is eligible, except for BPL families where relaxations apply.
- What if the loanee drops out from studies?
- The co-applicant must repay the loan within one year.
- How are applications for CELS processed?
- Applications are reviewed by SIDICO, and loans are disbursed based on eligibility and documentation.
- How often are loans disbursed under CELS?
- Loans are disbursed on a rolling basis, depending on fund availability and eligibility.
- What are the criteria for selecting loanees?
- Selection is based on income levels, course recognition, and merit.
- Is an affidavit required from the applicants?
- Yes, an affidavit of non-employment is required.