Interest-Free Education Loan Scheme (IFEL) – The state government of goa has launched a new scheme for the student of the state. Under this scheme, the government will provide Interest Free Education Loan for the students who want to get their higher education. This loan will be provided on the basis of approved degree and diploma courses at the undergraduate and postgraduate levels in India or abroad. According to the scheme, the student will have to pay back the loan amount to the principal. The good thing of this scheme is that all the interest of loan amount will be beared by the government.
Under this scheme, the interest free loan is being provided by the Goa Education Development Corporation. According to the scheme, the state government will provide a maximum loan up to Rs. 10 lakh for the courses conducted in India and this loan will be provide for 5 year. Besides, a maximum loan of Rs. 16 lakh for the courses in abroad and this loan will be provided for 2 years.
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Benefits of Interest-Free Education Loan Scheme
- With the help of this scheme students can get their higher education.
- The loan amount will be pay back to the principle.
- Under this scheme, the interest free laon will be provide for higher education in India or abroad.
- The student must be a resident of Goa.
- The age of the applicant must be less than 30 years old.
- The student must be completed X and XII class exams and admitted for courses at deploma or degree level in any government recognized institution in Goa.
- The must have a graduation certificate from any recognized institution.
- The must be obtained 60% in X and/or XII standered for general gategory while 50% for SC/ST/OBC category.
- The annual income of the student family should not be more than Rs.200000/-.
- Aadhaar card as Identity proof
- Residence Certificate
- Birth Certificate
- Family income certificate
- 10th or 12th mark sheets
- Diploma passing certificate in case of diploma
- Passport size photos
- True copy of Proof of admission
- Power of Attorney in the name of a working parent (in case of studies outside Goa)
- Bank account details
- Caste certificate if required
The interested students can apply for this scheme by following some easy steps which are given below –
- The applicant can apply for this scheme through the online mode.
- To fill online application form the applicant will have to visit its official site http://ifel.in/
- If you are a new applicant than you will have to make registration by filling some required details.
- Af the registration you will receive your usename and password.
- Use your username and password for login.
- After login you will see application form fill it very carefully and complete all the details and upload required documents.
- After filling online application form click on submit button.
- Afrer the registration you will receive your registration number.
- The applicant need to take print out of receiving for references.
- The applican can also renew his/her form by just login on the portal.
Official Website of Interest-Free Education Loan Scheme (IFEL) || Official Website of Goa Education Development Corporation