Mukhya Mantri Gyandeep Yojna

Description
The scheme “ Mukhya Mantri Gyandeep Yojna ” was launched by the Higher Education Department, Government of Himachal Pradesh for all those students of the State for availing of educational loans from any Bank for pursuing professional/technical courses and higher education courses from recognized Institutions in India. The scheme shall be applicable for educational loans disbursed from the academic year 2016-17 starting from 1st April 2016 irrespective of the date of sanction of the education loan. Objective: The objective of the scheme is to provide financial support in the form of interest subsidy on Educational Loans availed from Banks by Himachali Students for pursuing Higher Education in India and Abroad.

Exclusions
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Benefits
• Under this Scheme, Interest subsidy is admissible from any bank on an education loan availed up to the maximum of ₹10 lakhs.
• Interest subsidy to the extent of 4% per annum on education loans will be allowed.
• **Note:** Interest subsidy will be provided on interest charged on eligible education loan accounts during the repayment/ holiday/ moratorium period i.e. course period plus moratorium period of a maximum of one year.

Eligibility Criteria
1. The student should be a Bonafide Himachali.
2. The students of the State who avail of educational loans from any Bank for pursuing professional/technical courses and higher education courses from recognized Institutions in India are eligible to apply under this scheme.
3. The interest subsidy shall be available to eligible students only if no other interest subsidy on education Loans is availed under any other scheme of the State Government/Government of India.

Required Documents
• Passport Size Photographs
• Copy of Aadhaar Card
• Copy of PAN Card
• Copy of Himachali Bonafide Certificate (Domicile of Himachal Pradesh)
• Bank Account details
• Proof of pursuing course/higher education
• Proof of Address
• Any other document, as required

Frequently Asked Questions
Q: What is the “Mukhya Mantri Gyandeep Yojna”?
A: Under the scheme, financial support in the form of interest subsidy on Educational Loans shall be provided to all those students of the State who avail of educational loans from any Bank for pursuing professional/ technical courses and higher education courses from recognized Institutions in India.

Q: What is the objective of the scheme?
A: The objective of the scheme is to provide financial support in the form of interest subsidy on Educational Loans availed from Banks by Himachali Students for pursuing Higher Education in India and Abroad.

Q: Which is the implementing department of this scheme?
A: Department of Higher Education, Government of Himachal Pradesh

Q: Who is eligible to apply under the scheme?
A: The students of the State who avail of educational loans from any Bank for pursuing professional/ technical courses and higher education courses from recognized Institutions in India are eligible to apply under this scheme.

Q: Is this scholarship scheme only for the students of Himachal Pradesh?
A: Yes, the student should be a Bonafide Himachali.

Q: What is the benefit of the scheme?
A: 1. Under this Scheme, Interest subsidy is admissible from any bank on an education loan availed up to the maximum of [?]10 lakhs.
2. Interest subsidy to the extent of 4% per annum on education loans will be allowed.

Q: Who is not eligible to apply under the scheme?
A: The student who has availed of an interest subsidy scheme on an Education Loan under any other scheme of the State Government/ Government of India is not eligible to apply under this scheme.

Q: How to apply for the scheme?
A: The eligible student can apply through any bank directly.