One-Time Grant of ₹50,000 for Children of Teachers in Karnataka Studying Medicine or Engineering

The “Financial Assistance to the Teachers/Lecturers’ Children Who Have Taken Loans from Nationalized Banks for Studying Medical/Engineering Courses” is an initiative by the Karnataka State Teachers’ Welfare Fund. This scheme provides financial assistance to children of government and aided institution teachers/lecturers who have availed educational loans from nationalized banks for professional courses in medicine and engineering, including postgraduate programs.

Benefits

  • One-time financial assistance up to ₹50,000/- to cover the interest component of educational loans.
  • Direct transfer of the sanctioned amount to the borrower’s bank account.

Eligibility Criteria

To qualify for this scheme, applicants must:

  • Have a parent who is a teacher/lecturer working in a government or aided institution and holds life membership in the Karnataka State Teachers’ Welfare Fund.
  • Be a student who has passed each year or semester on the first attempt.
  • Have studied from 1st to 10th standard in a government or aided school in Karnataka.
  • Have availed an educational loan from a nationalized bank for pursuing professional education in medicine or engineering.
  • Have taken the educational loan for a course within India.
  • Be in the final year of a vocational medical, engineering, or postgraduate program.
  • Only one child per family can apply.

Exclusions

  • Retired teachers’ children are not eligible for this scheme.

Application Process

Offline Application Process

  1. Download the prescribed application form from the official website.
  2. Fill in the required details regarding the student and teacher.
  3. Attach the necessary documents, including mark sheets, loan details, teacher’s HRMS copy, and proof of schooling.
  4. Get the proposal recommended by:
    • The Controlling Officer.
    • The Head of the concerned institution.
  5. Submit the completed application along with all certified documents to the Karnataka State Teachers’ Welfare Fund office.
  6. Obtain an acknowledgment receipt containing:
    • Date and time of submission.
    • Unique reference number (if applicable).

Documents Required

  • Certified Mark Sheets of all years/semesters.
  • Proof of Educational Loan (issued by a nationalized bank).
  • Fee Payment Receipt.
  • Teacher’s Life Membership (LMS) Card, attested by the Head of the Institution.
  • Proof of school attendance (from 1st to 10th standard) certified by the Head of the School and the Taluk Constituent Education Officer.
  • HRMS Copy or recruitment approval (for teachers from aided institutions).
  • Bank Passbook (attested by a notary).
  • Loan Details (including loan account number and interest paid).

Frequently Asked Questions (FAQs)

Q: Who is eligible for this scheme?
Children of government or aided institution teachers/lecturers who are life members of the Karnataka State Teachers’ Welfare Fund and have taken educational loans from nationalized banks for medical/engineering courses.

Q: What is the maximum financial assistance provided?
A one-time grant of up to ₹50,000/- to cover the interest component of the loan.

Q: Which types of loans are covered under this scheme?
Only educational loans availed from nationalized banks for medical and engineering courses are covered.

Q: Does the scheme cover postgraduate courses?
Yes, postgraduate medical and engineering courses are included.

Q: Can retired teachers apply for their children?
No, retired teachers’ children are not eligible for this scheme.

Q: Are there any academic requirements for eligibility?
Yes, the student must pass each semester or year on the first attempt.

Q: Is there an income limit for applicants?
No, there is no income limit for eligibility under this scheme.

Q: How many students per family can avail of this benefit?
Only one child per family can apply.

Q: Is this scheme applicable to students studying outside Karnataka?
No, the loan must be taken for courses within India.

Q: Is this scheme available for courses other than medicine and engineering?
No, only medical and engineering courses are covered.

Q: Do I need to repay the financial assistance?
No, this is a grant and does not require repayment.

Q: What is the duration of eligibility?
Only final-year students are eligible to apply.

Q: Can both parents apply if they are teachers?
No, only one parent can apply, and only one child per family is eligible.

Q: What documents are needed to apply?
Applicants need to submit mark sheets, loan proof, fee receipts, teacher’s membership card, proof of schooling, HRMS copy, and bank passbook details.

Q: How is the assistance disbursed?
The sanctioned amount is directly transferred to the borrower’s bank account.

Q: What if the loan interest is already paid?
If the loan interest has been paid, the applicant is not eligible for the scheme.

Q: Can I apply if I haven’t attended a government school?
No, applicants must have studied from 1st to 10th standard in a government or aided school.

Q: Is there a deadline to apply for this grant?
Yes, the application deadline is mentioned in the annual notification released by the Karnataka State Teachers’ Welfare Fund.

Sources & References

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