Student will be eligible, (as the interest subsidy) under the Scheme for pursuing Post Graduate Diploma, Post Graduate degree course/Masters, M.Phil & Ph.D. Further, those students, who have completed M.Tech in India but is now pursuing MBA abroad and these students have got subsidy under CSIS/ state subsidy scheme for the M.Tech course, are also be eligible in this Scheme.

No, interest subsidy is not guaranteed for all eligible applicants. However, it would be Ministry’s endeavor to provide interest subsidy to all eligible applicants to the extent possible. As per provision of scheme, total number of students to be selected in a year is 400.

Presently, subsidy is restricted to the limits specified under IBA model scheme i.e. Rs 20.00 lakh only

Income Certificate issued by Competent Authority obtained at the time of availing loan, will be sufficient

1. Application form. 2. Admission letter. 3. Passport. 4. Income certificate. 5. Education loan application. 6. Aadhaar card.

Those who have secured admission abroad and are eligible as per Scheme Guidelines will be considered as meritorious under the Scheme.

Such students will be eligible for interest subsidy, if the Degree is awarded by Foreign University.

Total income from all sources of the employed candidate or his/ her parents/guardians in case of unemployed candidate shall not exceed Rs. 6.00 lakh per annum. Income certificate issued by the competent authority in the State/ Union Territory should be submitted in support of income shown by a candidate.

Students must apply for the scheme's benefits during their first year of study. Applications received in the second year or later will not be accepted.