NHFDC Loan Scheme For Vocational Education & Training For Pwds : National Handicapped Finance & Development Corporation
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Organisation : National Handicapped Finance and Development Corporation
Scholarship Name : Nhfdc Loan Scheme For Vocational Education And Training For Pwds
Applicable For : 18 years Disabled Students
Website : http://www.nhfdc.nic.in/schemes
Guidelines : https://www.scholarships.net.in/uploads/19298-VOCATIONALEDU.pdf
NHFDC Loan Scheme For Vocational Education :
Objective :
** The scheme aims at providing financial support to those eligible PwDs who, have the minimum educational qualification, as required by the institution / organization running the vocational education or Training course eligible under the scheme .
Related : National Scholarship Trust Fund FAQ 2500 Differently Abled Students : www.scholarships.net.in/16928.html
Implementation of the scheme :
** The scheme will be implemented through State Channelizing Agencies of NHFDC and the Banks, RRBs and other institution with whom NHFDC has signed an agreement.
Eligibility Criteria Of PwD :
** As per the criteria of Education Loan scheme of NHFDC Courses Eligible Vocational / Skill development courses of duration from 2 months to 3 years run or supported by a Ministry/Dept./Organisation of the Govt. or a company/ society/organization supported by National Skill Development Corporation or State Skill Missions / State Skill Corporations, preferably leading to a certificate/ diploma/degree, etc. issued by a Govt. organization or an organization recognized /authorized by the Govt. to do so. State Level Bankers Committee (SLBC)/State Level Coordination Committee (SLCC) may add other skill development courses/ programmes, having good employability.
** Minimum Age 18 years as on the date of application
Quantum Of Finance :
** Need based finance to meet expenses of upto Rs 2.00 lakhs.
Expenses Considered For Loan :
** Tuition / course fee .
** Examination / Library / Laboratory fee
** Caution deposit
** Purchase of books, equipments and instruments
** Any other reasonable expenditure found necessary for completion of the course.
** Boarding Lodging
** Necessary aids and appliances required for completion of course, on need basis.
Margin : Nil
Rate Of Interest : As per education loan scheme of NHFDC.
Processing Charges : Nil
Security :
** No collateral or third party guarantee will be taken. However, the parent will execute loan document alongwith the student borrower as joint borrower.
Moratorium Period :
Upon completion of the course, repayment will start after a moratorium period as indicated below :
** For courses of duration upto 1 year – 6 months from the completion of the course
** For courses of duration above 1 yearn – 12 months from the completion of the course.
Repayment : upto 7 years after commencement of the repayment
Insurance : Optional at the requirement of the borrower.
Prepayment :
** The borrower can repay the loan any time after commencement of repayment without having to pay any prepayment charges.
Other Terms & Conditions :
** Other terms and conditions as applicable to the NHFDC Educational Loan Scheme for pursuing higher education in India & Abroad” will be applicable to this scheme also.