Education
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Interest Subsidy Scheme on Education Loan
Education Department
Last updated:
Overview
The scheme "Interest Subsidy Scheme on Education Loan" by the Education Department, Gujarat, aims to provide financial support to students by offering 100% interest subsidy on education loans.
Details
Description
The scheme "Interest Subsidy Scheme on Education Loan" by the Education Department, Government of Gujarat, aims to provide complete financial relief to students through 100% interest subsidy on education loans for the entire moratorium period. This includes the study period and 1 additional year after course completion.
Exclusions
• <br>
Benefits
• Interest Subsidy Assistance: 100% interest subsidy on education loans up to ₹10,00,000/- for the moratorium period (course duration + 1 year).
Eligibility Criteria
1. The applicant must be a resident of Gujarat.
2. The applicant must be a student.
3. The applicant must have passed HSC (Higher Secondary Certificate) with at least 60 percentile.
4. The applicant must have taken an education loan from a recognized bank for pursuing higher education in India or abroad.
5. The applicant must have a family income not exceeding ₹6,00,000/- per year.
6. <br>
Application Process
Step 1: Step 1: Visit the Official Website and fill in all the details.
Online
Step 1: Visit the Official Website and fill in all the details.
Step 2: Step 2: Set an username and password.
Online
Step 2: Set an username and password.
Step 3: Step 3: Verify the details and click on "Register".
Online
Step 3: Verify the details and click on "Register".
Step 4: Step 1: Visit the Official Website and enter the username and password.
Online
Step 1: Visit the Official Website and enter the username and password.
Step 5: Step 2: Enter all relavant details and fill out the online form.
Online
Step 2: Enter all relavant details and fill out the online form.
Step 6: Step 3: Upload all required documents in the specified format if required.
Online
Step 3: Upload all required documents in the specified format if required.
Step 7: Step 4: Click on "Submit" to comlete the applicaion process.
Online
Step 4: Click on "Submit" to comlete the applicaion process.
Step 8: Step 5: After completing the full details of the application-submitting your application formprint the acknowledgment receipt.
Online
Step 5: After completing the full details of the application-submitting your application formprint the acknowledgment receipt.
Step 9: Step 6: The applicant will have to print the acknowledgment receipt and according to checklist
Online
all Documents send it to the KCG either directly or by courier (all the documents should be selfattested).
Kcg E-Mail Id: isel-kcg[at]gujgov[dot]edu[dot]in
Helpline No: 9909039380 (10:30 AM to 6:00 PM)
Required Documents
• Passport Size Photograph (Max 50 KB).
• Signature (Max 50 KB).
• Marksheet of Standard 12 / Diploma.
• Aadhaar Card.
• Ration Card.
• Income Certificate (Certified by Talati-cum-Mantri / Mamlatdar / TDO).
• Proof of Residence (Passport / Driving License / Bank Statement / Ration Card / Telephone Bill / Electricity Bill / Voter ID – any one).
• Copy of Education Loan Agreement (Signed and Stamped by Bank Manager).
• Copy of Education Loan Sanction Letter (As per KCG format, signed and stamped by Bank Manager).
• Copy of Education Loan Disbursement Letter (As per KCG format, signed and stamped by Bank Manager).
• Statement of Education Loan Account from first withdrawal date till current date (Signed and Stamped by Bank Manager).
• Bank Interest Certificate (Signed and Stamped by Bank Manager).
• Copy of First Page of Savings Account Passbook / Bank Statement / Cancelled Cheque (Any one).
• Admission Letter (On College/University Letterhead with Signature and Stamp).
• Fee Receipts of First Year / First Two Semesters.
• Self-Declaration Certificate stating “No benefit from other scheme” (As per KCG format available on website).
• Passport Copy (Only for Students Studying Abroad).
• Visa or Visa Letter Copy (Only for Students Studying Abroad).
• Power of Attorney (Only for Students Studying Abroad).
• Aadhaar Card.
• Ration Card.
• Income Certificate (Certified by Talati-cum-Mantri / Mamlatdar / TDO).
• Statement of Education Loan Account (From first withdrawal date till current date, signed and stamped by Bank Manager).
• Copy of Education Loan Disbursement Letter (As per KCG format, signed and stamped by Bank Manager).
• Bank Interest Certificate (Signed and Stamped by Bank Manager).
• Marksheet of All Passed Years / Semesters.
• Fee Receipts of All Years / Semesters.
Frequently Asked Questions
Q: What is the objective of the "Interest Subsidy Scheme on Education Loan"?
A: The "Interest Subsidy Scheme on Education Loan" is a financial assistance initiative launched by the Education Department, Government of Gujarat, which provides 100% interest subsidy on education loans up to ₹10,00,000 during the moratorium period, covering the study period and one year after completion of the course.
<br>
Q: Who is eligible to apply under the "Interest Subsidy Scheme on Education Loan"?
A: The applicant must be a resident of Gujarat, must have passed Standard 12th with at least 60 percentile, must have taken an education loan from a scheduled bank for higher education in India or abroad, and must have a family income not exceeding ₹6,00,000 per year.
<br>
Q: What is considered as the moratorium period under the scheme?
A: The moratorium period under the "Interest Subsidy Scheme on Education Loan" includes the entire duration of the course for which the education loan is taken plus an additional 1 year after the completion of the course before repayment starts.
<br>
Q: What is the maximum education loan amount covered under the scheme?
A: Under the "Interest Subsidy Scheme on Education Loan," the Government of Gujarat provides 100% interest subsidy for a maximum loan amount of ₹10,00,000/-.
<br>
<br>
Q: Is the scheme applicable to students studying abroad?
A: Yes, the "Interest Subsidy Scheme on Education Loan" is equally applicable to students pursuing higher education abroad, provided they fulfill all eligibility criteria.
<br>
Q: Can a student who is already availing another scholarship apply for this scheme?
A: A student who is availing benefits from another scholarship scheme cannot apply for the "Interest Subsidy Scheme on Education Loan".
<br>
Q: Is there any requirement for income certificate validity?
A: Yes, the income certificate submitted under the "Interest Subsidy Scheme on Education Loan" must be valid for the financial year concerned and is considered valid for three years from the date of issue, after which a new income certificate must be obtained and submitted.
<br>
Q: Where can an applicant apply for the scheme?
A: The applicant can apply for the "Interest Subsidy Scheme on Education Loan" only through the official online portal [https://isel.guj.nic.in](https://isel.guj.nic.in/)
by completing registration, filling the online form, uploading documents, and submitting the application as per the given timeline.
<br>
Q: What should the applicant do after submitting the online form?
A: After submitting the online form under the "Interest Subsidy Scheme on Education Loan," the applicant must visit the designated district help center within 7 days, get all original documents verified, submit one set of copies, and collect the acknowledgement receipt.
<br>
Q: Whom can the applicant contact in case of queries?
A: In case of any query related to the "Interest Subsidy Scheme on Education Loan," the applicant can contact the nearest help center listed on the portal or call the helpline number 9909039380 during working hours, or visit Knowledge Consortium of Gujarat, Ahmedabad before the last date.
<br>
The scheme "Interest Subsidy Scheme on Education Loan" by the Education Department, Government of Gujarat, aims to provide complete financial relief to students through 100% interest subsidy on education loans for the entire moratorium period. This includes the study period and 1 additional year after course completion.
Exclusions
• <br>
Benefits
• Interest Subsidy Assistance: 100% interest subsidy on education loans up to ₹10,00,000/- for the moratorium period (course duration + 1 year).
Eligibility Criteria
1. The applicant must be a resident of Gujarat.
2. The applicant must be a student.
3. The applicant must have passed HSC (Higher Secondary Certificate) with at least 60 percentile.
4. The applicant must have taken an education loan from a recognized bank for pursuing higher education in India or abroad.
5. The applicant must have a family income not exceeding ₹6,00,000/- per year.
6. <br>
Application Process
Step 1: Step 1: Visit the Official Website and fill in all the details.
Online
Step 1: Visit the Official Website and fill in all the details.
Step 2: Step 2: Set an username and password.
Online
Step 2: Set an username and password.
Step 3: Step 3: Verify the details and click on "Register".
Online
Step 3: Verify the details and click on "Register".
Step 4: Step 1: Visit the Official Website and enter the username and password.
Online
Step 1: Visit the Official Website and enter the username and password.
Step 5: Step 2: Enter all relavant details and fill out the online form.
Online
Step 2: Enter all relavant details and fill out the online form.
Step 6: Step 3: Upload all required documents in the specified format if required.
Online
Step 3: Upload all required documents in the specified format if required.
Step 7: Step 4: Click on "Submit" to comlete the applicaion process.
Online
Step 4: Click on "Submit" to comlete the applicaion process.
Step 8: Step 5: After completing the full details of the application-submitting your application formprint the acknowledgment receipt.
Online
Step 5: After completing the full details of the application-submitting your application formprint the acknowledgment receipt.
Step 9: Step 6: The applicant will have to print the acknowledgment receipt and according to checklist
Online
all Documents send it to the KCG either directly or by courier (all the documents should be selfattested).
Kcg E-Mail Id: isel-kcg[at]gujgov[dot]edu[dot]in
Helpline No: 9909039380 (10:30 AM to 6:00 PM)
Required Documents
• Passport Size Photograph (Max 50 KB).
• Signature (Max 50 KB).
• Marksheet of Standard 12 / Diploma.
• Aadhaar Card.
• Ration Card.
• Income Certificate (Certified by Talati-cum-Mantri / Mamlatdar / TDO).
• Proof of Residence (Passport / Driving License / Bank Statement / Ration Card / Telephone Bill / Electricity Bill / Voter ID – any one).
• Copy of Education Loan Agreement (Signed and Stamped by Bank Manager).
• Copy of Education Loan Sanction Letter (As per KCG format, signed and stamped by Bank Manager).
• Copy of Education Loan Disbursement Letter (As per KCG format, signed and stamped by Bank Manager).
• Statement of Education Loan Account from first withdrawal date till current date (Signed and Stamped by Bank Manager).
• Bank Interest Certificate (Signed and Stamped by Bank Manager).
• Copy of First Page of Savings Account Passbook / Bank Statement / Cancelled Cheque (Any one).
• Admission Letter (On College/University Letterhead with Signature and Stamp).
• Fee Receipts of First Year / First Two Semesters.
• Self-Declaration Certificate stating “No benefit from other scheme” (As per KCG format available on website).
• Passport Copy (Only for Students Studying Abroad).
• Visa or Visa Letter Copy (Only for Students Studying Abroad).
• Power of Attorney (Only for Students Studying Abroad).
• Aadhaar Card.
• Ration Card.
• Income Certificate (Certified by Talati-cum-Mantri / Mamlatdar / TDO).
• Statement of Education Loan Account (From first withdrawal date till current date, signed and stamped by Bank Manager).
• Copy of Education Loan Disbursement Letter (As per KCG format, signed and stamped by Bank Manager).
• Bank Interest Certificate (Signed and Stamped by Bank Manager).
• Marksheet of All Passed Years / Semesters.
• Fee Receipts of All Years / Semesters.
Frequently Asked Questions
Q: What is the objective of the "Interest Subsidy Scheme on Education Loan"?
A: The "Interest Subsidy Scheme on Education Loan" is a financial assistance initiative launched by the Education Department, Government of Gujarat, which provides 100% interest subsidy on education loans up to ₹10,00,000 during the moratorium period, covering the study period and one year after completion of the course.
<br>
Q: Who is eligible to apply under the "Interest Subsidy Scheme on Education Loan"?
A: The applicant must be a resident of Gujarat, must have passed Standard 12th with at least 60 percentile, must have taken an education loan from a scheduled bank for higher education in India or abroad, and must have a family income not exceeding ₹6,00,000 per year.
<br>
Q: What is considered as the moratorium period under the scheme?
A: The moratorium period under the "Interest Subsidy Scheme on Education Loan" includes the entire duration of the course for which the education loan is taken plus an additional 1 year after the completion of the course before repayment starts.
<br>
Q: What is the maximum education loan amount covered under the scheme?
A: Under the "Interest Subsidy Scheme on Education Loan," the Government of Gujarat provides 100% interest subsidy for a maximum loan amount of ₹10,00,000/-.
<br>
<br>
Q: Is the scheme applicable to students studying abroad?
A: Yes, the "Interest Subsidy Scheme on Education Loan" is equally applicable to students pursuing higher education abroad, provided they fulfill all eligibility criteria.
<br>
Q: Can a student who is already availing another scholarship apply for this scheme?
A: A student who is availing benefits from another scholarship scheme cannot apply for the "Interest Subsidy Scheme on Education Loan".
<br>
Q: Is there any requirement for income certificate validity?
A: Yes, the income certificate submitted under the "Interest Subsidy Scheme on Education Loan" must be valid for the financial year concerned and is considered valid for three years from the date of issue, after which a new income certificate must be obtained and submitted.
<br>
Q: Where can an applicant apply for the scheme?
A: The applicant can apply for the "Interest Subsidy Scheme on Education Loan" only through the official online portal [https://isel.guj.nic.in](https://isel.guj.nic.in/)
by completing registration, filling the online form, uploading documents, and submitting the application as per the given timeline.
<br>
Q: What should the applicant do after submitting the online form?
A: After submitting the online form under the "Interest Subsidy Scheme on Education Loan," the applicant must visit the designated district help center within 7 days, get all original documents verified, submit one set of copies, and collect the acknowledgement receipt.
<br>
Q: Whom can the applicant contact in case of queries?
A: In case of any query related to the "Interest Subsidy Scheme on Education Loan," the applicant can contact the nearest help center listed on the portal or call the helpline number 9909039380 during working hours, or visit Knowledge Consortium of Gujarat, Ahmedabad before the last date.
<br>
Eligibility Criteria
1
The applicant must be a resident of Gujarat.
2
The applicant must be a student.
3
The applicant must have passed HSC (Higher Secondary Certificate) with at least 60 percentile.
4
The applicant must have taken an education loan from a recognized bank for pursuing higher education in India or abroad.
5
The applicant must have a family income not exceeding ₹6,00,000/- per year.
6
<br>
Benefits
Interest Subsidy Assistance: 100% interest subsidy on education loans up to ₹10,00,000/- for the moratorium period (course duration + 1 year).
Required Documents
| # | Document |
|---|---|
| 1 | Passport Size Photograph (Max 50 KB). |
| 2 | Signature (Max 50 KB). |
| 3 | Marksheet of Standard 12 / Diploma. |
| 4 | Aadhaar Card. |
| 5 | Ration Card. |
| 6 | Income Certificate (Certified by Talati-cum-Mantri / Mamlatdar / TDO). |
| 7 | Proof of Residence (Passport / Driving License / Bank Statement / Ration Card / Telephone Bill / Electricity Bill / Voter ID – any one). |
| 8 | Copy of Education Loan Agreement (Signed and Stamped by Bank Manager). |
| 9 | Copy of Education Loan Sanction Letter (As per KCG format, signed and stamped by Bank Manager). |
| 10 | Copy of Education Loan Disbursement Letter (As per KCG format, signed and stamped by Bank Manager). |
| 11 | Statement of Education Loan Account from first withdrawal date till current date (Signed and Stamped by Bank Manager). |
| 12 | Bank Interest Certificate (Signed and Stamped by Bank Manager). |
| 13 | Copy of First Page of Savings Account Passbook / Bank Statement / Cancelled Cheque (Any one). |
| 14 | Admission Letter (On College/University Letterhead with Signature and Stamp). |
| 15 | Fee Receipts of First Year / First Two Semesters. |
| 16 | Self-Declaration Certificate stating “No benefit from other scheme” (As per KCG format available on website). |
| 17 | Passport Copy (Only for Students Studying Abroad). |
| 18 | Visa or Visa Letter Copy (Only for Students Studying Abroad). |
| 19 | Power of Attorney (Only for Students Studying Abroad). |
| 20 | Aadhaar Card. |
| 21 | Ration Card. |
| 22 | Income Certificate (Certified by Talati-cum-Mantri / Mamlatdar / TDO). |
| 23 | Statement of Education Loan Account (From first withdrawal date till current date, signed and stamped by Bank Manager). |
| 24 | Copy of Education Loan Disbursement Letter (As per KCG format, signed and stamped by Bank Manager). |
| 25 | Bank Interest Certificate (Signed and Stamped by Bank Manager). |
| 26 | Marksheet of All Passed Years / Semesters. |
| 27 | Fee Receipts of All Years / Semesters. |
How to Apply
1
Step 1: Visit the Official Website and fill in all the details.
Online Step 1: Visit the Official Website and fill in all the details.
2
Step 2: Set an username and password.
Online Step 2: Set an username and password.
3
Step 3: Verify the details and click on "Register".
Online Step 3: Verify the details and click on "Register".
4
Step 1: Visit the Official Website and enter the username and password.
Online Step 1: Visit the Official Website and enter the username and password.
5
Step 2: Enter all relavant details and fill out the online form.
Online Step 2: Enter all relavant details and fill out the online form.
6
Step 3: Upload all required documents in the specified format if required.
Online Step 3: Upload all required documents in the specified format if required.
7
Step 4: Click on "Submit" to comlete the applicaion process.
Online Step 4: Click on "Submit" to comlete the applicaion process.
8
Step 5: After completing the full details of the application-submitting your application formprint the acknowledgment receipt.
Online Step 5: After completing the full details of the application-submitting your application formprint the acknowledgment receipt.
9
Step 6: The applicant will have to print the acknowledgment receipt and according to checklist
Online all Documents send it to the KCG either directly or by courier (all the documents should be selfattested). Kcg E-Mail Id: isel-kcg[at]gujgov[dot]edu[dot]in Helpline No: 9909039380 (10:30 AM to 6:00 PM)
Frequently Asked Questions
The "Interest Subsidy Scheme on Education Loan" is a financial assistance initiative launched by the Education Department, Government of Gujarat, which provides 100% interest subsidy on education loans up to ₹10,00,000 during the moratorium period, covering the study period and one year after completion of the course. <br>
Sources and references
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