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Delhi Government to Give Credit Facility Scheme for Delhi Students – Loans for Higher Education & Skill Development

Delhi government has launched a new scheme for providing oppority to students of higher secondary level so that they can get higher education after schooling. Delhi government to provide credit facility to students under higher education and skill development, avail loans upto Rs.10 lakh for studies.

Chief Minister Arvind Kejriwal along with Deputy CM and Education Minister Mr. Manish Sisidia net a high-level delegation of 13 participating banks to review the progress of the flagship Higher Education and Skill Development Guarantee Scheme at the Delhi Secretariat.

In the financial year 2019-20, the Delhi government is aimimg to cover Delhi students through this first of its kind credit facility for deserving students. The focus of the discussions was to highlight the government`s vision to maximise the reach the flagship Education Loan Scheme to every eligible students

Delhi Students Credit Facility Scheme

Students can now avail a collateral-Free (no guarantee) loan of up to Rs. 10 lakh for higher education. In case the loan applicant is declared defaulter, the Delhi government will act as guaranteer. Every beneficiary under this scheme gets a time period of 15 years to repay the loan amount.

In order to smoothly implement this scheme, Government has created an Rs.30 Crore corpus. Delhi governments targeting deserving poor students who want to avail higher Studies through this scheme. The scheme will be seen in action from Financial Year 2019-20.

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