Financial Assistance to the Teachers/Lecturers Children who taken loan from Nationalised Banks for studying Medical/Engineering Courses

About This Scheme

The “Financial Assistance to the Teachers/Lecturers Children who taken loan from Nationalised Banks for studying Medical/Engineering Courses” aims to provide financial assistance to the children of teachers/lecturers working in government and aided primary, secondary, graduate, and post-graduate institutions. This assistance helps reduce the financial burden on families by covering interest charges on educational loans for vocational courses in medicine and engineering, including postgraduate courses.

Eligibility

1. The applicant parent should be a teacher/lecturer working in a government or aided institution with life membership of the Welfare Fund. 1. The student must have passed each year or semester of the course on the first attempt. 1. The student should have studied from 1st to 10th standard in government or aided schools in Karnataka.1. The applicant should have availed educational loan from a nationalized bank for professional education in medicine or engineering. 1. The educational loan should be taken for courses within India. 1. Only one child per family can avail of the financial assistance. 1. Assistance is only available for final-year students in vocational medical, engineering, or postgraduate programs.

Benefits

- One-time financial assistance up to ₹50,000/- covers the interest component of educational loans availed from nationalized banks. > Note: The sanctioned amount is directly transferred to the borrower's bank account.

How to Apply

Where This Comes From

This scheme was sourced from myScheme, the Government of India's official Central+State scheme discovery portal, and reviewed by an editor before publishing. Use the button above to read the full details and apply directly on the official source.