Goa Education Department Launches Interest-Free Educational Loans for Students
Team Herald : 24 Nov 2023 | 04:44pm IST
In a bid to foster the pursuit of higher education among Goa's youth and alleviate financial barriers, a new initiative has been unveiled by the state. Aimed at supporting candidates in pursuing approved undergraduate and postgraduate courses, both within India and abroad, the program intends to provide interest-free loans.
Scheduled to open to the public on November 27, the initiative encourages eligible candidates to apply for these interest-free loans by uploading necessary documents on the designated website. The assistance is aimed to ensuring that economic constraints do not hinder the educational aspirations of the younger population in Goa.
For students pursuing courses within India, the loan offers up to 2 lakhs per year for a duration of 5 years. Meanwhile, for those aspiring to study abroad, the loan provision extends to 8 lakhs per year for a two-year period.
An official from the Education Department emphasized that repayment of the loan will commence precisely a year after admission, with no interest charged during this period. However, students referred by others will be subject to an interest rate on their loans.
SOURCE & INFORMATION CREDITS: https://www.heraldgoa.in/News-Today/Goa-Education-Dept-Launches-InterestFree-Educational-Loans-for-Students/214123#google_vignette
