Higher Education And Skill Development Guarantee Scheme: Eligibility, Details, Steps to Apply & Full Details

The Higher Education and Skill Development Guarantee Scheme offers bank loan guarantees up to INR 10 lakh to talented students. This financial support is applicable for higher education in Delhi or recognized degree/ diploma/ skill courses within India but outside Delhi. The goal is to ensure meritorious students can pursue higher education without facing the financial burdens. The government provides the guarantee and students don't require collateral or margin money, and the scheme is open to all students. The maximum amount of education loan guaranteed under this scheme is up to INR 10 lakhs only.

Key Features of Higher Education and Skill Development Guarantee Scheme

The Higher Education and Skill Development Guarantee Scheme covers in the following parameters: 

1. Financial Support: Offers bank loans up to ₹10 Lakhs for higher education.
2. Collateral-Free: No collateral or margin money is required from students.
3. Credit Guarantee: The Delhi Government creates a fund to guarantee these loans to banks, protecting them from default.
4. Eligibility: For students completing Class 10 from Delhi for courses starting at that level, or Class 12 for higher studies.
5. Covered Courses: Includes recognized degrees/diplomas and skill development courses in Delhi Govt. Institutions, and some private ones with good NAAC/NBA grading.
6. Affordable Terms: Simple interest during study, reasonable interest rates, and no processing charges.

Eligibility for Higher Education and Skill Development Guarantee Scheme

Candidates applying must satisfy the following basic eligibility criteria:

• Must be pursuing a diploma, degree, or specified skill development course in Delhi.
• Must have completed Class 10 and Class 12 from Delhi.
• Children of Govt. of NCT of Delhi employees or officials/government servants posted with the Govt. of NCT of Delhi.

Candidates must also satisfy the admission requirements mentioned:

• Must have secured admission to a higher education or specified Skill development course in a recognized Delhi institution.
• Admission must be via an entrance exam or merit based admissions process after the required qualifying examination.

The following category of institutions are covered for loan guarantee:

• Government Institutions/ Universities and colleges of the University of Delhi (DU) for all recognized diploma or degree courses.
• Private/ Self-financed Institutions in Delhi which carry NAAC/NBA/SFRC grading.
• Institutions of Technical/ Training Skill Development, such as courses by the World Class Skill Centre or others specified by the Government of NCT of Delhi.

The following courses are eligible for studies in Delhi:

• Approved courses leading to graduate/ post-graduate degrees and PG diplomas conducted by recognized colleges/ universities recognized by UGC/ Government/ AICTE/ AIBMS/ ICMR etc.
• Courses like Institute of Cost and Works Accountants (now CMA), Chartered Accountant (CA), and Chartered Financial Analyst (CFA) etc.
• Courses conducted by Indian Institute of Technology (IITs), National Institute of Fashion Technology (NIFT), National Law University (NLU), and Indian Institute of Foreign Trade (IIFT) etc.
• Regular Degree/Diploma course approved by the concerned regulatory body.
• Skill Development Courses as specified by government of NCT of Delhi.

How to Apply for Higher Education and Skill Development Guarantee Scheme?

Interested candidates will need to follow the mentioned steps to apply online for Higher Education and Skill Development Guarantee Scheme:  

1. Visit the official website
2. Click on ‘Apply Now’ 
3. Students must register themelf and create an account
4. Provide your details
5. Upload required documents 
6. Review and submit the form 

DIRECT LINK TO APPLY - Higher Education and Skill Development Guarantee Scheme

Applicants must possess a hard copy of the application to submit to the concerned Bank/ Branch.