The “Scheme for Soft Loan to the Grant-in-aid/ Non-grant in Aid Institutions for Maintenance and Upgradation of Infrastructure Facilities” is a loan scheme launched by the Directorate of Higher Education, Government of Goa. The objective is to support the management of non-government aided institutions in upgrading and maintaining infrastructural facilities, thereby fostering a conducive learning environment. Through this scheme, beneficiaries can obtain soft loans from the Economic Development Corporation, which are disbursed in tranches based on the utilization of funds for infrastructure improvement.
Benefits
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Immediate Disbursement (50% of the Loan Amount):
Released immediately upon issuance of the sanction order by the Directorate of Higher Education. -
Second Installment (40% of the Loan Amount):
Released upon submission of a certificate from a Government Registered Engineer, duly countersigned by a Chartered Accountant and the College Principal/Head of Institution, confirming that the initial 50% has been fully utilized for the intended purpose. -
Final Installment (10% of the Loan Amount):
Released subject to:- Submission of a certificate from a Government Registered Engineer (with signatures from a Chartered Accountant and College Principal/Head) confirming that the additional 40% has been fully utilized.
- Production of a project completion certificate by the management.
- Issuance of an occupancy certificate by a competent authority satisfactory to the Directorate of Higher Education.
Eligibility
All aided and non-aided higher learning institutions (including those offering professional courses) situated in Goa are eligible, subject to the following conditions:
- The institution must be located in Goa.
- The managing society must be registered under the Societies Registration Act.
- The institution must have been operational for at least 10 years preceding the loan application date.
- There should be a minimum on-campus student strength of 300.
- The institution’s average passing percentage over the last three years (out of the five years immediately preceding the application) should be no less than 60%.
- The institution must meet at least one of the following:
- Be affiliated with Goa University, or
- Be recognized by AICTE/MCI/ACI/DCI or any other statutory body of the Government of India or Government of Goa.
Preference/Priority:
- Special preference is given to institutions from less developed talukas such as Canacona, Pernem, Sattari, Sanquelim, Quepem, Bicholim, and Sanguem.
- Older institutions are given priority over newer ones due to limited financial facilities under the scheme.
Application Process
Offline
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Prepare Application:
Fill out the prescribed application form with all mandatory fields and attach the required documents. -
Authorization:
The application must be duly signed by the Chairman of the managing Society. -
Submission:
Send the completed application to:
The Directorate of Higher Education, SCERT Building, Porvorim, Penha de França, Goa – 403 521. -
Acknowledgement:
Obtain a receipt/acknowledgment of successful submission from the Directorate.
Documents Required
- An approved plan of construction.
- A cost estimate for the project, certified by a Registered Engineer and a Chartered Accountant.
- The institution’s latest audited statements of accounts.
- Documents (such as sale deed/long lease deed) indicating ownership of the land on which the building is situated.
Frequently Asked Questions
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Are Non-Profit Organizations Other Than Societies Registered Under The Societies Registration Act Eligible?
Eligibility is limited to institutions managed by societies registered under the Societies Registration Act. -
Can Institutions Located Outside Goa Apply For The Scheme?
No, the institution must be situated in Goa. -
Is There Any Provision For Extending The Loan Repayment Period If An Institution Faces Financial Difficulties?
Specific provisions regarding repayment extensions are determined by the Directorate based on institutional circumstances. -
Are Institutions Offering Technical Or Vocational Courses Eligible To Apply For The Soft Loan?
Yes, institutions offering technical or vocational courses are eligible provided they meet all other criteria. -
Can Newly Established Institutions Apply For The Soft Loan?
No, only institutions operational for at least 10 years are eligible. -
Are There Any Penalties For Late Repayment Of The Soft Loan?
Penalties for late repayment are applicable as per the terms set by the Directorate. -
Is There Any Interest Charged On The Soft Loan Provided To The Institutions?
The scheme is designed as a soft loan with subsidized interest terms. -
Can The Soft Loan Be Used For Any Purpose Other Than Infrastructural Maintenance And Upgradation?
No, the funds must strictly be used for the maintenance and upgradation of infrastructure. -
What Is The Maximum Loan Amount That Eligible Institutions Can Apply For?
The maximum loan amount is determined by the Directorate based on the institution’s needs and capacity. -
Can Institutions Providing Non-Professional Courses Apply For The Scheme?
Yes, provided they meet the overall eligibility criteria. -
What Are The Eligibility Criteria For The Passing Percentage Of The Institution?
The average passing percentage over the last three years should be at least 60%. -
Is There Any Restriction On The Utilization Of The Soft Loan Funds?
The funds must be exclusively used for infrastructural maintenance and upgradation. -
Can Non-Grant-In-Aid Institutions Apply For The Scheme?
Yes, both grant-in-aid and non-grant-in-aid institutions are eligible. -
What Are The Essential Documents Required For Applying For The Soft Loan?
Refer to the list under “Documents Required” above. -
Where Should Eligible Institutions Apply For The Soft Loan?
Applications must be submitted to the Directorate of Higher Education at the specified address in Porvorim, Goa. -
How Are Preferences Given To Institutions Applying For The Soft Loan?
Priority is given to institutions from less developed talukas and older institutions over newer ones. -
What Is The Main Objective Of The Scheme?
The primary goal is to facilitate the maintenance and upgradation of infrastructural facilities to promote a conducive learning environment.