GANGTOK, 09 June: There
is more good news for students pursuing higher studies with the State
government revising the amount on offer as Student Loan and also increasing the
annual income slab in the eligibility criteria. This concerns the Chief
Minister's Comprehensive Education Loan Scheme wherein the upper limits of
loans that can be availed for higher education have been doubled from the
amount currently permissible; there are some restrictive criteria too amended
in to the earlier notification restricting the kind of education courses for
which such loans can be sought.
For pursuing higher
studies within India, the maximum loan amount has been enhanced from the
existing Rs. 7.5 lakh to Rs. 12 lakh; also doubled is the loan that can be taken
for studies within Sikkim – this has been enhanced from the existing Rs. 5 lakh
to Rs. 10 lakh.
The eligibility criteria
has also been relaxed with now these loans permissible to students of persons
whose annual income from all sources does not exceed Rs. 7.5 lakh from the
earlier Rs. 2.5 lakh. This is for studying within India.
For foreign studies, the
income from all sources of the parents of students should not exceed Rs. 10
lakh which is a relaxation from the earlier Rs. 5 lakh per annum slab. For
children availing the loan for studies within Sikkim the annual income limit of
parents is at Rs. 5 lakh.
A revised criteria has
also been introduced regarding the kind of courses and studies than can be
pursued by students aspiring for the Chief Minister’s Comprehensive Educational
Loan Scheme. According to this, loans will be available only for technical,
professional and post graduate courses. Those wanting to pursue MBBS will also
be able to avail of such loans but these will made available for MBBS courses
recognized by the Medical Council of India only.
As for loans for studies
abroad the criteria revision states that these will be permissible only for
medical, post graduate and research studies in foreign universities. According
to the notification issued by the Human Resource Development Department today
the applications for this loan will be received from June through August.
Under the existing
Comprehensive Education Loan scheme, large numbers of Sikkim students are
availing this loan which is interest-free for the duration of the course, after
which it begins attracting interest @ 6% per annum. Loans under this scheme are
released directly in favour of the Institute after executing mortgage deed and
other necessary loan documents.
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