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Education & Learning

Financial Assistance to the Teachers/Lecturers Children who taken loan from Nationalised Banks for studying Medical/Engineering Courses

The “Financial Assistance to the Teachers/Lecturers Children who taken loan from Nationalised Banks for studying Medical/Engineering Courses” aims to provide financial assistance to the children of teachers/lecturers working in govt. & aided primary, secondary, graduate, & post-graduate institution.

Authority

State/ UT

Region

Karnataka

Status

Verified 2026

Updated

March 2026

What you get

- One-time financial assistance up to ₹50,000/- covers the interest component of educational loans availed from nationalized banks. | Note: The sanctioned amount is directly transferred to the borrower's bank account.

Who can apply

The applicant parent should be a teacher/lecturer working in a government or aided institution with life membership of the Welfare Fund.; The student must have passed each year or semester of the course on the first attempt.; The student should have studied from 1st to 10th standard in government or aided schools in Karnataka.1. The applicant should have availed educational loan from a nationalized bank for professional education in medicine or engineering.; The educational loan should be taken for courses within India.; Only one child per family can avail of the financial assistance.; Assistance is only available for final-year students in vocational medical, engineering, or postgraduate programs.

Required Paperwork

  • Aadhaar Card
  • PAN Card
  • Income Certificate
  • Residence Proof (Domicile)

Common Questions

Who is eligible for this scheme?

Children of teachers/lecturers working in government or aided institutions with life membership of the Welfare Fund.

What is the maximum financial assistance provided?

Up to [?]50,000 for loan interest repayment.

Which types of loans are covered under this scheme?

Educational loans taken from nationalized banks for vocational courses in medicine and engineering.

Does the scheme cover postgraduate courses?

Yes, the scheme covers both undergraduate and postgraduate courses.

Can retired teachers apply for their children?

No, this scheme is only for currently serving teachers.

Are there any academic requirements for eligibility?

Yes, the student must pass all years/semesters on the first attempt.

Is there an income limit for applicants?

No, the scheme does not specify any income limit.

How many students per family can avail this benefit?

Only one student per family is eligible for assistance.

Is this scheme applicable to students studying outside Karnataka?

Yes, but the loan must be taken from a nationalized bank in India.

Is this scheme available for courses other than medicine and engineering?

No, it is exclusively for vocational courses in medicine and engineering.

Do I need to repay the financial assistance?

No, this is a grant provided to cover interest costs on educational loans.

What is the duration of eligibility?

Only final-year students can apply for the grant.

Can both parents apply if they are teachers?

No, only one family member can apply.

What documents are needed to apply?

Certified mark sheets, loan details, proof of schooling, and LMS card.

How is the assistance disbursed?

The assistance is transferred directly to the borrower's bank account.

What if the loan interest is already paid?

The application will not be accepted if the interest has been paid.

Can I apply if I haven’t attended a government school?

No, students must have studied from 1st to 10th standard in government or aided schools.

Is there a deadline to apply for this grant?

Applications should be submitted within the same year after completing the final year.