Organization : Department of Collegiate Education
Scholarship Name : Rajiv Gandhi Loan Scholarship Scheme
Applicable States : Karnataka
Website : https://dce.kar.nic.in/LoanScholarship.html
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DCE Rajiv Gandhi Loan Scholarship Scheme
The Rajiv Gandhi loan scholarship scheme is introduced by the Government of Karnataka to ensure that poverty and financial constraints will not deny Higher education to the meritorious poor students.
Related : Department of Collegiate Education Sanchi Honnamma & Sir C.V. Raman Student Scholarship : www.scholarships.net.in/1939.html
** To increase admissions of students belonging to economically weaker section.
** To provide financial assistance to meritorious students, subject to terms and conditions.
** To extend the scheme to students belonging to economically weaker section whose annual family income less than Rs 250000/-.
** To link Adhaar numbers of the student beneficiaries with their Bank accounts to keep track of the progress of the students and to assist in recovery.
** Beneficiary should be an Indian National
** Any student belonging to other State and studying in Karnataka is also eligible, subject to fulfilling of the other eligibility criteria.
** Should have scored not less than 50% marks in PUC or equivalent course and should have secured admission in any Government First Grade Colleges/Aided Degree Colleges (for aided courses only) affiliated to Karnataka State Universities.
The benefit of the scheme would be applicable to those students belonging to economically weaker sections with an annual gross parental/family income less than Rs.2.50 lacs per annum (from all sources).
The student shall produce Income Certificate issued by the jurisdictional Tahasildar as a proof of income to be eligible under the scheme.
Submission Of Application
Step 1 : Go to the official website of Department of Collegiate Education Karnataka through the URL provided above.
Step 2 : Download the Application form from the official website or you can directly download it from below mentioned link.
Download Application Form :
Step 3 : However, a student need to submit his application (as per format vide Annexure – 1) to the Principal of the college where is pursuing his studies.
Step 4 : The Principal, after certifying the correctness thereof and also issuing the certificate for expenditure (as per Annexure – 2) should submit the applications received at the college to the concerned Lead District Manager, who should send the applications to the concerned branch.
Step 5 : The Lead District Manager should segregate the applications Bank-branchwise and arrange to send to the respective branches under his area.
Step 6 : The concerned bank branch, which receives the application should arrange to comply with KYC norms and take a view on sanctioning of the loan strictly as per the terms and conditions of the scheme.
** All Scheduled commercial banks can sanction loans under this scheme.
** The bank branch for sanctioning the loan to a particular student is the one located in the Place of Domicile or current working place of his/her parents.
1. Two Photos each of Applicant, Co-applicant
2. Proof of Identification (Student Identity card /Pan Card/Passport/Adhaar Number /Voter Identification card / Driving License etc.)
3. Proof of Residence viz. tax receipt/ telephone bill/ electricity Bill/ Adhaar Number etc.
4. Copy of Admission letter along with college Certificate to be issued by the Principal of the college (As per Format)
5. Copy of Marks sheet/ pass certificate from 10th std. onwards.
6. Assets and Liability Statement of applicant and co-applicant
7. Income certificate from Tashidar
8. Salary Certificate of parents/guardian (If any)
9. Statement of account of the applicant/co-applicant from their present Bankers.(if any)
10. Pan Card /Adhaar Card of applicant and co- applicant (if available)
Expenses Considered For Loan
Whatever definite and quantifiable educational expenses incidental to study like tuition fee, books, equipment, laptop, hostel fees, study tour, uniforms etc., could be covered under the loan as it is.
As far as maintenance expenses like food and stay expenses are concerned, it is clarified that expenses not exceeding 50% of total annual loan amount i.e., an amount of Rs.2,500/- per month with a maximum cap of Rs.30,000/- per annum may be sanctioned as living expenses.
Quantum of Loan
Maximum quantum of loan eligible for coverage under the scheme shall be as below
** Period of Course Amount per year
** Less than 6 months Rs.20,000/-
** 6 months but Less than 1 year Rs.40,000/-
** More than one year but less than two years Rs. 100000/-
** Above one year Rs. 60000 per year
Security : No security or third party guarantee is required. However Parent(s)/Guardian to be taken as Co-borrower.
Margin : Nil
Rate of Interest : As applicable to IBA model Education Loan scheme of the respective banks. Interest concession of 0.50% to be extended for girl students
The repayment of loan shall commence 6 months after securing the job or one year after completion of the course whichever is earlier.
Maximum repayment period after moratorium shall be as below
** Loan amount Maximum repayment period
** Upto Rs 50000/- 2 years
** More than Rs 50000/- upto Rs 1,00,000/- 2 to 5 years
** Above Rs 1,00,000/- 3 to 7 years
Nodal Bank :
Vijaya Bank is the Nodal Bank for claiming the subsidy from Karnataka government on behalf of Schedule Commercial Banks/Regional Rural Bank’s.
Disposal of interest subsidy claims :
The interest subsidy claims received from the Banks will be submitted to the Government of Karnataka on yearly basis or as decided by Government of Karnataka.