The scheme aims to provide financial support through bank loans to meritorious students for pursuing higher education or skill development courses. Students can avail of collateral-free loans up to ₹10 lakh, with the Delhi Government acting as a credit guarantor to banks in case of default. The scheme is open to students from Delhi pursuing recognized degree/diploma courses within Delhi and in Central/State Government universities/institutions across India.
Benefits
- Loan amount up to ₹10 lakh without collateral or margin money.
- Financial support for students pursuing diplomas, degrees, and skill development courses.
- No processing fee charged by banks under this scheme.
- Available to students enrolled in recognized Central/State Government institutions in Delhi and outside Delhi (within India).
Eligibility Criteria
- The applicant must be a resident of Delhi.
- Students must have passed Class X and XII from Delhi.
- If the course requires Class X qualification, the student should have passed Class X from Delhi.
- Children of employees of the Government of NCT of Delhi are also eligible.
- Admission must be secured in a recognized diploma, degree, or skill development course in a government institution through merit-based selection or entrance test.
- The guarantee will cover loans for recognized diploma/degree courses from:
- Government institutions/universities and colleges affiliated with the University of Delhi.
- Private/Self-financed institutions in Delhi with NAAC/NBA/SFRC grading.
- Technical and vocational skill development courses such as World Class Skill Centre programs or any other institution specified by the Delhi Government.
Eligible Courses
- Graduate, postgraduate, and diploma courses recognized by UGC/AICTE/AIBMS/ICMR.
- Professional courses like ICWA, CA, CFA.
- Courses conducted by IIT, NIFT, NLU, IIFT, etc.
- Degree/Diploma courses in aeronautics, pilot training, shipping, nursing, physiotherapy, or any other program recognized by regulatory bodies like DGCA, Indian Nursing Council, etc.
- Skill Development Courses specified by the Delhi Government.
Application Process
Online Mode:
- Visit the official website of the scheme.
- Click on “Apply Now” or go to the eDistrict Delhi portal.
- Register and create an account.
- Fill out the application form with personal and academic details.
- Upload the required documents.
- Submit the application.
- A hard copy of the filled application must be submitted to the concerned bank branch.
Required Documents
- Aadhaar Card (Student)
- PAN Card (Student)
- 10th Certificate (for courses requiring Class X qualification)
- 12th Certificate (for courses requiring Class XII qualification)
- Employer’s Certificate (for children of Delhi Government employees)
- Recent passport-size photograph
- Admission Certificate/Proof of Enrollment
- Declaration Form (with photo & signature)
- PAN is not mandatory at the time of loan application but must be furnished before the second installment.
Frequently Asked Questions (FAQs)
- Who is eligible to apply?
Students who are Delhi residents, have passed Class X and XII from Delhi, and have secured admission to a recognized diploma, degree, or skill development course. - Can students studying outside Delhi apply?
Yes, if they are enrolled in a recognized Central/State Government institution within India. - Are private institutions covered?
Yes, but only private/self-financed institutions in Delhi that have NAAC/NBA/SFRC grading. - What is the loan repayment period?
Repayment tenure and interest rates are determined by the banks. - Are there any processing fees?
No, banks will not charge processing fees under this scheme. - Is collateral required for the loan?
No, no collateral or margin money is required.