Haryana Education Loan Scheme 2022 Online Registration Link

Haryana Govt Education Loan Scheme 2022: Haryana government has announced to start of a new Education Loan Scheme 2022 for students. In this Haryana Govt. Education Loan Scheme, the state govt. will provide credit guarantees against education loans for students. CM Manohar Lal Khattar made this announcement while replying to State Budget 2020-2021 in the Assembly earlier on 4 March 2020. Previously, students had to face difficulties in getting loans for higher education due to the lack of collateral guarantees required by the banks. To implement Haryana Govt. Education Loan Scheme 2022, govt. will set up a credit guarantee fund for students under various categories of medical, engineering, and other professional courses. Upon completion of the course and becoming an earning hand, students will have to refund the loan amounts to banks. A provision for Haryana Govt. Education Loan Scheme 2022 has been made in the state budget.

Haryana Govt Education Loan Scheme 2022 – Online Form

If you want to fulfill your study desire then you can fulfill your unfinished study dream by taking an interest-free loan under the 2022 education loan program started by the Yogi government. UP government will provide an interest-free loan of up to 2 million to the students. As time changes, so do the period of inflation. Yes, inflation is creating problems in the country not only for the farmers but also for the students and students. Due to rising inflation and financial constraints at home, the desire of many young students remains unfulfilled. In such a situation, there is good news for the youth studying from the Yogi government of UP. We are telling you that the government has already started the study loan education program. Under this, the students will be able to study easily. It allows us to know what the young students need to do to avail the education loan scheme. Let us inform you that in order to educate young students, the Yogi government has taken the initiative to give a loan scheme up to Rs 0.30.

Education Loan Scheme 2022 Details

हरियाणा सरकार उच्च शिक्षा ऋण योजना 2022

Haryana Govt. Education Loan Scheme 2022

• The main objective of the scheme is to enable the students belonging to the State of Haryana intending to pursue Higher education having passed 12th class from institutions recognized by the Government of Haryana but unable to pursue higher education due to lack of collateral security. Such students would be provided an opportunity to study under the umbrella of this Scheme. Under the scheme, the State Government guarantee will be provided against a Higher Education Credit Guarantee Fund which will be created for loans under various categories for education so that students of Haryana State need not provide any collateral. The main aim of the scheme is to ensure that the students are not denied the opportunity of higher studies in professional and other institutes due to a lack of collateral security. Under the scheme, a Bank or Member Lending Institution can avail of the benefit by paying nominal fees in case of default/NPA.

Salient features of the Higher Education Credit Guarantee Fund

• For availing the benefit of the Fund, the Member Lending Institution (MLIY/Banks shall pay the annual guarantee fee at the rate of 0.3% of the total outstanding loan amount against their respective borrowers. Such fees is to be provided on annual basis and the same shall be non-refundable. The amount of the annual guarantee fee shall be recoverable from the students.
• The Interest charged by the Member Lending Institutions for education loans shall not exceed a maximum of up to 2% over and above the repo rate declared by RBI from time to time. However, this may be revised by the competent authority keeping in view the circumstances later on.
• This fund will be utilized in case of default by the beneficiary in repayment of loan up to 100% of the principal amount along with interest for the Govt. medical colleges of the state of Haryana irrespective of accreditation status, 90% of the Principal amount along with interest for the admission to an institution which has at least ‘A’ grading or higher in NAAC ranking and 75% of the Principal amount of loan along with interest in case of the admission to an institution with ‘B’ and ‘C’ grading and 50% of the principal amount of loan with interest for admission to an institution with D category. For the balance amount, the Banks/Member lending Institution shall recover the same from the borrower.
• The Government will provide a guarantee for education loans provided by the Member Lending Institutions (MLI) to meet expenses on account of tuition fees, hostel charges, bond amount, examination/library/laboratory fees, and deposits to the educational institution of any kind. However, in the case of Medical Institutions, the maximum amount that can be financed by Banks/MLI is up to Rs.50.00 lakh (for Government Medical Colleges of the State of Haryana only) and up to Rs.10.00 lakh for other courses in both Government and Private Institutions. The State Government reserves the right to add or remove any item of expense keeping in view requirements Inter.
• The accrued interest during the moratorium period and course period shall be added to the principal and repayment would be fixed in Equated Monthly Installments (EMI) with a repayment period of at least 15 years after commencement of the repayment period with the option to repay at any point of time without a prepayment penalty.
• The provisions mentioned in the scheme shall be mandatorily applicable to such Member Lending Institutions. The Government will pay the subsequent loan on account of the bond amount of the student once he/she joins Government service after completion of the courses provided he/she appears and gets selected through the due procedure.
•  The guarantee would be available for loans for students who are residents of Haryana provided by the MLI for courses other than MBBS in institutions located anywhere within territorial jurisdictions of the Union of India.

Guarantee Amount

• 100% of the Principal amount of the loan along with interest would be guaranteed in case of the students who obtain admission in MBBS in Government Medical Colleges. Additionally with respect to admission to other Educational Institutions.
• 90% of the Principal amount of the loan along with interest would be guaranteed in case of the students who obtain admission to an institution that has at least ‘A’ grading in NAAC accreditation or higher than that.
• 75% of the Principal amount of loans along with interest would be guaranteed in case of the students who obtain admission to an institution that has B++, B+, B & C grading in NAAC accreditation.
• 50% of the loan would be guaranteed in case of the student obtain admission to an institution that has a D grading in NAAC accreditation.
• The margin money in respect of medical courses shall be 2% of the approved loan and 10% of the approved loan in respect of other courses.

Haryana Education Loan Scheme Online Application Form

• Any student who has passed the 12th class and has obtained admission in a higher educational institution located in Haryana can apply online through the online portal (atmanirbhar.haryana.gov.in) or mobile app or through Saral Kendras on a common application devised by State Level Banker Committee (SLBC). Below is the complete procedure to fillup Haryana Education Loan Scheme online application form:-
• Firstly visit the official website at https://atmanirbhar.haryana.gov.in/frontend/web/
• On the homepage, click on “Application for Bank Loan”
• Upon clicking this link, the Haryana Education Loan Scheme online application form will appear.
• Here applicants can select loan type, bank, district / UT, or branch and click on the “Proceed” button to fill up Haryana Education Loan Scheme online registration/application form.

Eligibility Criteria for Haryana Govt Education Loan Scheme

• Students who have passed 12th class is a resident of Haryana State with the I-card / PPP (Parivar Pehchan Patra) and whose family income does not exceed six lakh per annum, counted from all the sources will be entitled to avail above stated benefit under the scheme for the courses other than MBBS. However, for the MBBS course, there will be no income criteria. Anyone who has qualified NEET examination and has secured a seat through open counseling will be eligible for such a loan facility under the said scheme.
• Additional Criteria:-
• The benefit under the scheme will not be available if the student discontinues his studies before the completion of the course.
• The benefit under the scheme will not be provided if the student is not able to complete the course within the scheduled period. However, where such event is on account of resources that are beyond the control of students as determined by the Medical Education and Research Department or Higher Education Department as the case may be and where the student makes effort to complete the courses in a reasonable time in the loan will be fund by State Government.

Documents Required for Haryana Government Higher Education Loan Scheme

• It is very important for the applicant to have aadhar card.
• It is very important for the applicant to have his bank passbook.
• It is very important for the applicant to have a 10th mark sheet and a 12th mark sheet.
• It is mandatory to have a photocopy of the enrollment certificate of the college in which the applicant has taken admission for higher education, in which the duration of his course is mentioned.
• The applicant should have complete details of the course fee received from his educational institution and two passport size photographs of the applicant’s parents.
• It is very important for the applicant to have a Haryana Kas Mulniwas certificate so that it can be known that he is a native of Haryana.

Download Education Loan Scheme Link