The Education Loan Scheme under NSFDC is implemented by the Haryana Scheduled Castes Finance and Development Corporation (HSFDC) in collaboration with the National Scheduled Castes Finance & Development Corporation (NSFDC). Established under the Companies Act, 1956 on 02.01.1971 and being a government-owned corporation (with 51% share by the State Government and 49% by the Government of India), HSFDC offers educational loans to eligible Scheduled Caste students. This scheme is designed to assist students in pursuing full-time professional or technical education by covering a range of admissible expenses.
Objective
To extend financial assistance to eligible Scheduled Caste students for pursuing recognized full-time professional/technical courses, thereby enabling them to access quality education and enhance their career prospects.
Benefits
-
Loan Amount for Studies within India:
Up to ₹10,00,000. -
Loan Amount for Studies Abroad:
Up to ₹30,00,000. -
Covered Expenses:
- Admission fees and tuition fees
- Books, stationery, and other course instruments
- Examination fees
- Boarding and lodging expenses
- Insurance premium (covering the loanee against death or permanent disability)
- Travel expenses/passage money for studying abroad
- Caution money, development fund, and other related expenses
-
Disbursement:
Loans are provided through state channelizing agencies to Government-recognized educational institutions. For foreign studies, only institutions recognized by the respective foreign authorities and subsequently approved for admission by Indian authorities are considered.
Eligibility
-
Residency and Community:
The applicant must be a permanent resident of Haryana and belong to the Scheduled Caste community. -
Age:
Applicants should be between 18 and 45 years old. -
Income Criterion:
The applicant’s annual family income should not exceed ₹3,00,000. -
Course Requirements:
The loan is available for students pursuing regular full-time recognized professional or technical courses in India or abroad. The scheme is applicable at either the Diploma/Graduation or Post Graduation level. Integrated courses that cover both levels are also eligible. -
One-Time Benefit:
The educational loan benefit is available to a student only once, except for integrated courses of longer duration. -
Additional Conditions:
- 50% of beneficiaries have an annual family income up to ₹1,50,000, while the remaining 50% have incomes above ₹1,50,000 up to ₹3,00,000.
- Students who secured admission to technical/professional courses prior to 1.12.2009 and have not availed loans from other institutions are also eligible.
Repayment Terms
-
Commencement of Repayment:
Recovery (principal and interest) will begin 6 months after course completion or upon securing employment, whichever is earlier. -
Repayment Period:
The loan will be repaid in 20 quarterly installments over 5 years from the date of first disbursement. -
Loan Marking:
A tag or marker will be placed on the student’s Diploma/Degree indicating their repayment liabilities.
Application Process
Online Process via HSFDC Portal:
-
Registration:
- Visit the official website of Haryana Scheduled Castes Finance and Development Corporation.
- Under the ‘NSFDC Assisted Scheme’ section, select the Education Loan Scheme.
- Click on “Apply for Loan” to begin the registration process.
- Fill in your details (Name, Aadhaar number, email, mobile number, and captcha), then click “Register.”
- Enter the OTP sent to your mobile and click “Submit.” Your application form will then open.
-
Profile Update and Application:
- Enter your details, upload the required documents, and click “Submit” to complete your application.
- You will receive a user ID and password. You can log in later for further updates or to track your application.
Alternate Registration via Antyodaya-SARAL Portal:
-
Registration on Antyodaya-SARAL:
- Visit Antyodaya-SARAL Portal.
- Click “New User” under ‘Sign In Here’ and complete the registration by filling in all mandatory details (Name, Email, Mobile, Password, and State).
- Verify your mobile number and email via OTP.
-
Application Submission:
- Log in to the portal.
- Select “Apply for Services” and then “View all Available Services.”
- Search for the Education Loan Scheme and fill in the application form with all required details and document uploads.
- Preview and submit your application.
-
Tracking:
Applicants can track their application status on the portal by entering the Department Name, Scheme Name, and Application Reference ID.
Documents Required
-
Identity Proof:
Aadhaar Card. -
Proof of Residence:
Ration Card, Electricity Bill, Licence, Rent Agreement, etc. -
Caste Certificate:
Valid Scheduled Caste certificate. -
Educational Qualification Certificates:
Mark sheets, certificates, and the school/college leaving certificate. -
Income Proof:
Annual total income certificate of the family. -
Bank Details:
Copy of the first page of Bank Passbook or a cancelled cheque in the applicant’s name. -
Additional Documents:
- Certificate from the Indian Embassy/Consulate confirming admission (if applicable).
- Accreditation status of the course and the educational institution (for studies abroad).
- Approval or clearance certificate from the competent authority (if loan amount exceeds ₹1,00,000).
- Copy of admission confirmation with fee schedule.
- Foreign exchange permit (if studying abroad).
- Identity card from the institute (if admission is confirmed).
- School leaving certificate in support of date of birth.
- Prospectus of the course.
- Income Certificate.
- SC Certificate from the competent authority.
- Any other documents as required.
Frequently Asked Questions
-
Who implements the scheme?
The scheme is implemented by Haryana Scheduled Castes Finance and Development Corporation (HSFDC) in collaboration with NSFDC. -
What is the objective of the scheme?
To extend educational loans to eligible Scheduled Caste students for pursuing full-time professional or technical education, thereby enabling them to secure quality education. -
What expenses does the education loan cover?
It covers admission fees, tuition fees, books and stationery, examination fees, boarding and lodging, insurance premium, travel expenses for abroad studies, caution money, development fund, etc. -
What is the maximum loan amount for studies within India and abroad?
- For studies within India: Up to ₹10,00,000.
- For studies abroad: Up to ₹30,00,000.
-
When does the recovery of the loan start?
Repayment begins 6 months after course completion or upon securing employment, whichever is earlier. -
How is the loan repaid?
The loan is repaid in 20 quarterly installments over 5 years from the first disbursement, with a tag on the student’s degree indicating the repayment liability. -
Who is eligible to apply for the loan?
Eligible applicants are Scheduled Caste students who are permanent residents of Haryana, aged between 18 and 45, with an annual family income not exceeding ₹3,00,000, pursuing recognized full-time professional/technical courses in India or abroad. -
Can students pursuing integrated courses apply for the loan?
Yes, students in integrated courses covering both Diploma/Graduation and Post Graduation are eligible. -
Is there a marker on the student’s degree indicating loan repayment liabilities?
Yes, a tag will be placed on the diploma/degree as an indicator of the repayment obligation. -
Can students apply for loans for short-term courses?
No, the loan is meant for full-time professional/technical courses as per the scheme guidelines. -
How can one apply for the loan?
Applications can be submitted online through the official HSFDC website or via the Antyodaya-SARAL Portal.