The Delhi government has launched the “Higher Education and Skill Development Guarantee Scheme” to encourage youth towards higher education and skill development. The main objective of this scheme is to provide financial assistance to such meritorious students who have a dream of studying further, but the financial situation does not allow it. Under this scheme, education loan will be made available to the students without any security or margin money from the banking system. The most important thing is that the government has created a special Credit Guarantee Fund for this, which will provide guarantee to the banks on behalf of the students.
Key features of the scheme
Under this scheme, students can get a maximum education loan up to Rs 10 lakh. This loan is available for recognized courses related to degree, diploma and skill development. Whether the student studies within Delhi or in any recognized central / state university and institute of the country, they will get the benefit of this scheme.
- Students will not be required to deposit any collateral or margin money.
- The loan guarantee will be provided through the Higher Education and Skill Development Credit Guarantee Fund created by the Delhi Government.
- This scheme is universal, that is, no matter what the social or economic background of the student, everyone will get equal opportunity.
Eligibility Criteria
Only those students can avail the benefits of this scheme who have done their 10th and 12th class studies from Delhi.
- In courses where 10th class is the eligibility for admission, it is necessary to have passed 10th from Delhi.
- Children of employees working in the Delhi Government or its subordinate departments/institutions are also eligible for this scheme.
- The student should be admitted to any recognized university or institute through merit or entrance examination.
Recognised institutes and courses
This scheme covers not only government but also many private/self-financed institutes, provided they have NAAC/NBA/SFRC accreditation.
Eligible courses include:
- Undergraduate and postgraduate degree and PG diploma courses.
- Professional courses like ICWA, CA, CFA etc.
- Courses conducted in reputed institutes like IIT, NIFT, NLU, IIFT.
- Technical and special training like pilot training, aeronautical, shipping, nursing, physiotherapy etc.
- Various skill development programmes approved by the Delhi government.
Application process
The application process to avail the benefits of this scheme is completely online.
- The student has to register on the e-district website of the Delhi government.
- Click on “Apply Now” and fill in the required details.
- After applying, the print copy of the online filled form and the required documents have to be submitted to the concerned bank branch.
- Only those banks will be included, which are in the approved list of Delhi Government.
Required Documents
While applying, students have to submit some mandatory documents, such as:
- Aadhar Card and PAN Card (of the student).
- 10th and 12th mark sheets/certificates (passed from Delhi).
- Employer’s Certificate (if parent is an employee in Delhi Government).
- Photograph, signature and declaration form of the student.
- Proof of admission in an institute recognized by the Central/State Government.
It is worth noting that PAN card is not necessary at the time of application, but it is mandatory to provide PAN number before the release of the second installment.
Benefits of the scheme
This scheme is a boon for thousands of meritorious students of Delhi. Its main benefits are as follows:
- The risk of interruption in studies due to financial reasons is eliminated.
- Students get the freedom to choose the course of their choice.
- There is no problem of difficulties in taking loans from banks and the problem of collateral.
- This increases the confidence of the students and they are able to complete their education without any burden.
Conclusion
Higher Education and Skill Development Guarantee Scheme is not just a means of financial assistance, but it gives the youth an opportunity to move towards a better future. When a student is confident that his education will not remain incomplete only due to money, then both his confidence and hard work increase manifold. This scheme can prove to be an inspirational model not only for Delhi but for the entire country.