The objective of the scheme is to award interest subsidy to meritorious students belonging to the Other Backward Classes and Economically Backward Classes so as to provide them better opportunities for higher education abroad and enhance their employability.
Similarly, is there any subsidy in SBI education Loan?
Eligibility Criteria:
The Scheme is available to students whose parents or family’s gross income is a maximum of Rs. 4.50 lakhs annually. The Scheme is available to students who take education loan for studying a professional or technical course in India. … The interest subsidy is available to students only once.
Similarly one may ask, what is economic subsidy?
Definition: Subsidy is a transfer of money from the government to an entity. It leads to a fall in the price of the subsidised product. Description: The objective of subsidy is to bolster the welfare of the society. … Subvention refers to a grant of money in aid or support, mostly by the government.
What is educational subsidy?
The primary goal of the education subsidy is to contribute to increasing the level of school participation and the retention rate in secondary education among disadvantaged youth.
What is interest subsidy scheme for educational loan?
Central Scheme to provide Interest Subsidy (CSIS) for the period of moratorium of educational loans taken by students from economically weaker sections (EWS) under educational loan scheme of Indian Banks Association (IBA), to pursue Technical/ Professional education studies in India.
What is subsidy scheme?
The term subsidy refers to the financial assistance in the form of discount or monetary grants by the Central government to public entities or private institutions. The objective is to make the products offered by these institutions affordable for public consumption.