NSFDC Education Loan Scheme for SC Students

The NSFDC Education Loan Scheme gives Scheduled Caste (SC) students an education loan of up to Rs 30,00,000 for studies in India and up to Rs 40,00,000 for studies abroad. Annual family income must not exceed Rs 3 lakh.

The NSFDC Education Loan Scheme for SC Students is run by the National Scheduled Castes Finance and Development Corporation (NSFDC). It helps SC students pay for professional or technical courses in India or abroad. The loan covers tuition, hostel, books and other study costs. Interest rates are lower than commercial banks, and repayment options are flexible.

Quick Facts

Detail	Information
Scheme name	NSFDC Education Loan Scheme for SC Students
Offered by	National Scheduled Castes Finance and Development Corporation (NSFDC)
Who can apply	Scheduled Caste (SC) students
Loan limit for study in India	Up to 90% of the course fee or Rs 30,00,000, whichever is less
Loan limit for study abroad	Up to 90% of the course fee or Rs 40,00,000, whichever is less
Interest rate	6% for study in India, 7% for study abroad
Extra benefit for women	0.5% rebate on the interest rate
Repayment period	10 years for loans up to Rs 10,00,000, 12 years for loans above Rs 10,00,000
Family income limit	Up to Rs 3 lakh per year, for both urban and rural areas
Loan given through	State Channelizing Agencies (SCAs)
Last date	Not specified

Key Highlights

• Loan of up to Rs 30,00,000 for study in India and up to Rs 40,00,000 for study abroad
• Low interest: 6% for India and 7% for abroad
• 0.5% interest rebate for female applicants
• Repayment over 10 or 12 years
• Covers fees, hostel, books, travel, visa costs and more
• Open to a wide range of professional and technical courses

Program Objectives

• Support SC students who want to study professional or technical courses
• Cover education costs such as tuition, hostel and books
• Offer education loans at lower interest than commercial banks
• Give flexible repayment options

About the Sponsor and Partner

The National Scheduled Castes Finance and Development Corporation (NSFDC) is the sponsor of this scheme. Loans are given through State Channelizing Agencies (SCAs), which are the partner agencies that give the loan to eligible students.

Academic Criteria

• You must be enrolled in a regular professional or technical course, in India or abroad, approved by the government.
• You must have cleared your previous qualifying examination, whether at school, undergraduate or postgraduate level.

Eligible Courses

• Engineering (Diploma, B.Tech, B.E, M.Tech, M.E.)
• Architecture (B.Arch, M.Arch)
• Medical (MBBS, MD, MS)
• Biotechnology, Microbiology and Clinical Technology (Diploma or Degree)
• Pharmacy (B.Pharma, M.Pharma)
• Dental (BDS, MDS)
• Physiotherapy (B.Sc., M.Sc.)
• Pathology (B.Sc., M.Sc.)
• Nursing (B.Sc., M.Sc.)
• Information Technology (BCA, MCA)
• Management (BBA, MBA)
• Hotel Management and Catering Technology (Diploma, Graduation, Post Graduation)
• Law (LLB, LLM)
• Education (CT, NTT, B.Ed, M.Ed)
• Physical Education (C.PEd, B.PEd, M.PEd)
• Journalism and Mass Communication (Graduation, Post Graduation)
• Geriatric Care (Diploma, Post Graduate Diploma)
• Midwifery (Diploma)
• Laboratory Technician (Diploma)
• Chartered Accountancy (CA)
• Cost Accountancy (ICWA)
• Company Secretaryship (CS)
• Actuarial Sciences (Graduation, Post Graduation, FIA)
• Associate Member of Institute of Engineers (AMIE) and Institute of Electronics and Telecommunication
• Higher education (M.Phil, PhD from recognized institutions)

Financial and Social Criteria

• You must belong to the Scheduled Castes (SC) category.
• Your annual family income must not exceed Rs 3 lakh, for both urban and rural areas.

Geographic Criteria

• You must be an Indian citizen.
• You can study in India or abroad.

Restrictions

• The course must be a regular professional or technical course approved by the government.
• Only the courses listed above are eligible.

Loan Limit and Interest Rate

Place of study	Loan limit	Interest rate
Study in India	Up to 90% of the course fee or Rs 30,00,000, whichever is less	6%
Study abroad	Up to 90% of the course fee or Rs 40,00,000, whichever is less	7%

Additional Benefits

• Female applicants get a 0.5% rebate on the interest rate.
• The repayment period is 10 years for loans up to Rs 10,00,000.
• The repayment period is 12 years for loans above Rs 10,00,000.

Expenses Covered by the Loan

• Admission fees
• Tuition fees
• Books, stationery and equipment
• Examination fees
• Hostel and mess expenses
• Insurance premium for loan cover in case of the borrower's death or permanent disability
• Travel and passage expenses, including visa costs for studying abroad
• Caution money
• Development fund
• Clothing allowance, including protective clothing for extreme climates when studying abroad
• 1% of the total course cost for unforeseen expenses
• Thesis printing charges
• Thesis submission charges
• Campus conveyance costs, such as bus and railway fare

Steps to Apply

1. Check that you meet all the eligibility criteria, including SC category, course and the Rs 3 lakh family income limit.
2. Click the Apply Now button on this page.
3. Enter your email or mobile number and verify it with the OTP sent to you.
4. Loans under this scheme are given through State Channelizing Agencies (SCAs), so complete your loan application with your State Channelizing Agency.

Frequently Asked Questions

Who can apply for the NSFDC Education Loan Scheme?

Indian citizens who belong to the Scheduled Castes (SC) category and are enrolled in an approved regular professional or technical course, in India or abroad. Annual family income must not exceed Rs 3 lakh.

How much loan can I get under this scheme?

You can get up to 90% of the course fee or Rs 30,00,000 (whichever is less) for study in India. For study abroad, it is up to 90% of the course fee or Rs 40,00,000 (whichever is less).

What is the interest rate on the NSFDC education loan?

The interest rate is 6% for study in India and 7% for study abroad.

Do women get any interest benefit?

Yes. Female applicants get a 0.5% rebate on the interest rate.

What is the family income limit?

Annual family income must not exceed Rs 3 lakh, for both urban and rural areas.

What is the repayment period?

The repayment period is 10 years for loans up to Rs 10,00,000 and 12 years for loans above Rs 10,00,000.

Which courses are covered?

Engineering, architecture, medical, pharmacy, dental, nursing, management, law, education, journalism, chartered accountancy, company secretaryship, actuarial sciences, M.Phil and PhD, and other approved professional and technical courses. See the full list in the Eligibility section.

What expenses does the loan cover?

It covers admission, tuition and examination fees, books and equipment, hostel and mess, travel and visa costs for study abroad, insurance premium, caution money, thesis charges and campus conveyance.

Where is the loan given from?

Loans are given through State Channelizing Agencies (SCAs).

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