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Higher education and skill development guarantee scheme

Posted on : Apr 7th 2017 16:06

Introduction

Government of NCT of Delhi, as a part of its 70 Action Points, has envisaged a Higher Education and Skill Development Guarantee Scheme for students who wish to pursue diploma or degree level courses or specified skill development courses in Delhi and have done their class X and class XII from Delhi. For courses for which the qualifying examination is class X, students who have done class X from Delhi will be eligible under the scheme. Under the scheme, bank loans upto Rs.10 lakhs taken by the students will be provided guarantee through a Higher Education and Skill Development Credit Guarantee Fund to be created by the Government for providing guarantee to the banks in case of default. Students will not be required to furnish any collateral or margin money and the scheme will be universal in nature regardless of the student’s background.

Objective of the Scheme

The Higher Education and Skill Development Guarantee Scheme outlined below aims at providing financial support from the banking system to meritorious students for pursuing higher education in Delhi. The main emphasis is that a meritorious student is provided with an opportunity to pursue higher education with the financial support from the banking system with reasonable and affordable terms and conditions.