www.nhfdc.nic.in National Handicapped Finance and Development Corporation : Student Education Loan

[muthukalee]

National Handicapped Finance and Development Corporation

You may also apply on-line for education loan for Disabled Student.
LOAN FOR PROFESSIONAL/EDUCATIONAL/TRAINING COURSES TO DISABLED PERSONS

Purpose - A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.

Eligibility – Any Indian Citizen with 40% or more disability.

http://www.nhfdc.nic.in/site/ednscheme.aspx

Type of Loan - Term Loan

Eligible Courses
All courses having employment prospects are eligible.
Graduation courses/ Post graduation courses/ Professional courses
Other courses approved by UGC/Government/AICTE etc.

Expenses considered for loan
Fees payable to college/school/hostel
Examination/Library/Laboratory fees
Purchase of Books/Equipment/Instruments/Uniforms
Caution Deposit/Building Fund/Refundable Deposit (maximum 10% tution fees for the entire course)
Travel Expenses/Passage money for studies abroad
Purchase of computers considered necessary for completion of course
Cost of a Two-wheeler upto Rs. 50,000/-

Any other expenses required to complete the course like study tours, project work, Assistive devices etc.

Amount of Loan
Need based finance subject to the repaying capacity of the parents/students with the following ceilings –
i) Studies in India - Maximum Rs. 10.00 lacs
ii) Studies Abroad - Maximum Rs. 20.00 lacs

Repayment of Loan -
i) The loan to be repaid within 7 years after commencement of repayment.
ii) The repayment as per repayment schedule would commence one year after completion of course or 6 months after securing a job, whichever is earlier.
iii) Interest on term loan would be charged from the date of disbursement of loan from NHFDC (grace period as per lending policy is permissible).
iv) In the case of loan extended/to be extended by the Corporation under the scheme, simple interest shall be charged on the loan amount at the prescribed/applicable rate during the moratorium period and that the unpaid interests, if any, shall be compounded and charged at the commencement of repayment of loan at par with term loan.
The manner of charging interest as specified above shall also be made applicable to loans already sanctioned/released under the scheme notwithstanding anything to the contrary contained in the sanction letter or the scheme as the case may be.
v) The beneficiary will submit the copy of marks-sheet after every term/semester to the SCA for further submission to NHFDC.

Suggested Processing Fees
No processing fee/ upfront charges
Deposit of Rs. 5000/- for education loan for studies abroad which will be adjusted in the margin money

[Guest]

I am a student in your scholarship for the last year 2011-2012. Do I have to apply again or just renew?