Lok Sabha Question No. 21 (UNSTARRED), answered on 2020-02-03
Subject: Subsidy on Education Loan
Ministry: HUMAN RESOURCE DEVELOPMENT
Asked by: Jyotirmay Singh Mahato

## GOVERNMENT OF INDIA MINISTRY OF HUMAN RESOURCE DEVELOPMENT DEPARTMENT OF HIGHER EDUCATION

## LOK SABHA

UNSTARRED QUESTION NO. 21 TO BE ANSWERED ON 03.02.2020

## Subsidy on Education Loan

## †21. SHRI JYOTIRMAY SINGH MAHATO:

## Will the Minister of HUMAN RESOURCE DEVELOPMENT

be pleased to state:

- (a) the aims and objectives including salient features of the Central Sector Interest Subsidy Scheme on educational loans;
- (b) the  total  number  of  such  students  who  have  availed  benefits  of  their  scheme during the last three years and the current year and the percentage of such students out  of  the  said  number,  who  have  availed  benefits  of  their  scheme  for  higher education in the country particularly in West Bengal and Jharkhand; and
- (c) whether  the  Government  has  been  achieving  the  aims  and  objectives  of  the scheme ever since its implementation, if so, the details thereof?

## A N S W E R MINISTER OF HUMAN RESOURCE DEVELOPMENT (SHRI RAMESH POKHRIYAL 'NISHANK')

- (a): Department  of  Higher  Education,  Ministry  of  Human  Resource  Development  is implementing the Central Sector Interest Subsidy (CSIS) Scheme. The Scheme was launched in the year 2009 and revised with effect from 01.04.2018.
- (i). The  aims  and  objectives  of  the  Scheme  are  that  no  student  desiring  to pursue higher education is denied of the opportunity if he/she is financially poor. The Scheme enables students from Economically Weaker Sections (EWS) to access higher education.
- (ii). Salient features of the Scheme are as follows:-
-  The Scheme is based on the Model Educational Loan Scheme of Indian Banks Association (IBA).
-  Scheme provides full interest subsidy during the period of moratorium (course period  plus  one  year)  on  Education  Loans  upto  Rs.  7.5  Lakhs  taken  by students belonging to Economically Weaker Sections (EWS) under the Model Educational Loan Scheme of the Indian Banks Association.
-  Students  enrolled in  professional/  technical  courses  only  from  National Assessment  and  Accreditation  Council  (NAAC)  accredited  Institutions  or professional/ technical programmes accredited by National Board of

(b)

| Year    | Total number of beneficiaries                                                                                          | Total number of beneficiaries in West Bengal                                                                           | Total number of beneficiaries in West Bengal                                                                           | Total number of beneficiaries in Jharkhand                                                                             | Total number of beneficiaries in Jharkhand                                                                             |
|---------|------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------|
|         |                                                                                                                        | Total                                                                                                                  | Percentage                                                                                                             | Total                                                                                                                  | Percentage                                                                                                             |
| 2016-17 | 146632                                                                                                                 | 2724                                                                                                                   | 1.86                                                                                                                   | 2614                                                                                                                   | 1.78                                                                                                                   |
| 2017-18 | 132825                                                                                                                 | 2707                                                                                                                   | 2.04                                                                                                                   | 2305                                                                                                                   | 1.74                                                                                                                   |
| 2018-19 | 88825                                                                                                                  | 2611                                                                                                                   | 2.94                                                                                                                   | 1872                                                                                                                   | 2.11                                                                                                                   |
| 2019-20 | The Web portal for claiming CSIS subsidy for the FY 2019-20 will be opened after completion of Financial Year 2019-20. | The Web portal for claiming CSIS subsidy for the FY 2019-20 will be opened after completion of Financial Year 2019-20. | The Web portal for claiming CSIS subsidy for the FY 2019-20 will be opened after completion of Financial Year 2019-20. | The Web portal for claiming CSIS subsidy for the FY 2019-20 will be opened after completion of Financial Year 2019-20. | The Web portal for claiming CSIS subsidy for the FY 2019-20 will be opened after completion of Financial Year 2019-20. |

(c) Yes, till  date  27,32,169  number  of  beneficiaries  have  been  benefitted  under  the  scheme with the total subsidy claim of Rs. 13593.86 crore,which is substantial.

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- Accreditation  (NBA)  or  Institutions  of  National  importance  or  Centrally Funded Technical Institutions (CFTls) are eligible.
-  Parental income ceiling is Rs.4.5 lakh per annum under the scheme.
-  Subsidy is admissible only once either for undergraduate or for post-graduate or for integrated course.