Centre launches interest subsidy on educational loans

August 19, 2014

According to an official release on August 7, the Centre has launched a scheme to provide interest subsidy on educational loans for overseas studies for students belonging to the minorities, including Muslims.
Minority Affairs minister Najma Heptulla also informed Lok Sabha that some scholarships provided to students of minority communities are not on par with scholarships given to SC and ST students and her ministry has approached the Finance Ministry to bring parity between the two.

Heptulla said under the ‘Padho Pardesh’ scheme, the ministry will provide interest subsidy on educational loans for overseas studies for students belonging to the notified minority communities like Muslims, Christians, Sikhs, Buddhists, Jain and Parsis.

“The objective of the scheme is to award interest subsidy to meritorious students belonging to economically weaker sections of notified minority communities so as to provide those better opportunities for higher education abroad and enhance their employability,” she said during the Question Hour.

Clarifying the government’s intention, Heptulla said that not only the students belonging to rich families but students from underprivileged background should also be able to go abroad for studies.

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