What you get
- Interest Subsidy Assistance: 100% interest subsidy on education loans up to ₹10,00,000/- for the moratorium period (course duration + 1 year).
Who can apply
Required Paperwork
- Aadhaar Card
- PAN Card
- Income Certificate
- Residence Proof (Domicile)
Common Questions
What is the objective of the "Interest Subsidy Scheme on Education Loan"?
The "Interest Subsidy Scheme on Education Loan" is a financial assistance initiative launched by the Education Department, Government of Gujarat, which provides 100% interest subsidy on education loans up to ₹10,00,000 during the moratorium period, covering the study period and one year after completion of the course.
Who is eligible to apply under the "Interest Subsidy Scheme on Education Loan"?
The applicant must be a resident of Gujarat, must have passed Standard 12th with at least 60 percentile, must have taken an education loan from a scheduled bank for higher education in India or abroad, and must have a family income not exceeding ₹6,00,000 per year.
What is considered as the moratorium period under the scheme?
The moratorium period under the "Interest Subsidy Scheme on Education Loan" includes the entire duration of the course for which the education loan is taken plus an additional 1 year after the completion of the course before repayment starts.
What is the maximum education loan amount covered under the scheme?
Under the "Interest Subsidy Scheme on Education Loan," the Government of Gujarat provides 100% interest subsidy for a maximum loan amount of ₹10,00,000/-.
Is the scheme applicable to students studying abroad?
Yes, the "Interest Subsidy Scheme on Education Loan" is equally applicable to students pursuing higher education abroad, provided they fulfill all eligibility criteria.
Can a student who is already availing another scholarship apply for this scheme?
A student who is availing benefits from another scholarship scheme cannot apply for the "Interest Subsidy Scheme on Education Loan".
Is there any requirement for income certificate validity?
Yes, the income certificate submitted under the "Interest Subsidy Scheme on Education Loan" must be valid for the financial year concerned and is considered valid for three years from the date of issue, after which a new income certificate must be obtained and submitted.
Where can an applicant apply for the scheme?
The applicant can apply for the "Interest Subsidy Scheme on Education Loan" only through the official online portal https://isel.guj.nic.in | by completing registration, filling the online form, uploading documents, and submitting the application as per the given timeline.
What should the applicant do after submitting the online form?
After submitting the online form under the "Interest Subsidy Scheme on Education Loan," the applicant must visit the designated district help center within 7 days, get all original documents verified, submit one set of copies, and collect the acknowledgement receipt.
Whom can the applicant contact in case of queries?
In case of any query related to the "Interest Subsidy Scheme on Education Loan," the applicant can contact the nearest help center listed on the portal or call the helpline number 9909039380 during working hours, or visit Knowledge Consortium of Gujarat, Ahmedabad before the last date.