ELS-DELHI

"Education Loan Scheme" provides financial assistance to the SC/ST/OBC/PwD students for pursuing professional and technical education in India and abroad, with loan limits of ₹7,50,000/- and ₹15,00,000/- respectively. Delhi residents with an annual family income below ₹5,00,000/- are eligible.

"Education Loan Scheme" by the Delhi SC/ST/OBC/Minorities and Handicapped Financial Development Corporation Ltd., Government of Delhi, aims to provide financial assistance to students belonging to Scheduled Castes (SC), Scheduled Tribes (ST), Other Backward Classes (OBC), Minorities, and Persons with Disabilities (PwD) for pursuing professional and technical courses in recognized institutions in India and abroad. The scheme offers need-based loans with a maximum limit of ₹7,50,000/- for studies in India and ₹15,00,000/- for studies abroad. To be eligible the applicant must be a permanent resident of Delhi, with an annual family income below ₹5,00,000/-.

• The applicant must be a permanent resident of Delhi.
• The applicant should be from one of the following target groups - Scheduled Caste, Scheduled Tribe, Other Backward Class, Minority, Persons with Disability.
• The annual income of parents/guardian should be below ₹5,00,000/-.
• The applicant must have secured admission in a recognized/Government/Technical Institution in India or abroad.
• The College/Institute should have been offering the course for the last three years.
• The College/Institute should be recognized by the Central/State Government or by appropriate authorities such as UGC (University Grants Commission), AICTE (All India Council for Technical Education), etc.
• The duration of the course should not exceed 5 years.

Post Sanction Eligibility for the Borrower

• The borrower must not participate in any unlawful activity that would debar them from pursuing studies and must follow all rules and regulations laid down by the educational institution.
• The borrower must not enter into any pecuniary obligation or financial liability during the currency of the loan.
• The borrower must strive to secure suitable employment after completing the course and furnish full particulars of such employment, including income details, to DSFDC.

• Need-based finance with a ceiling of ₹7,50,000/- for studies in India.
• Need-based finance with a ceiling of ₹15,00,000/- for studies abroad.

_*No promoter’s contribution required for loans up to ₹4,00,000/-._

_*For loans above ₹4,00,000/-, 5% contribution is required for studies in India and 15% for studies abroad._

_*Loan repayment period is up to 10 years after the commencement of repayment or until the date of employment, whichever is earlier._

_*The applicant has the option to repay the loan earlier if desired._