UNION KISAN SHIKSHA SUVIDHA (UKSS) – STUDENTS BELONGING TO AGRARIAN FAMILY

PURPOSE

• To the meritorious students to pursue Medical / Engineering / Management courses leading to graduate / post graduate education.

STUDENT ELIGIBILITY

• Should be an Indian national.
• Belong to farming community with Primary source of income (above 50% of total income) should be from agriculture allied activity.
• Secured at least 60% marks at higher secondary level.
• No restriction with regard to the minimum and maximum age
• The parent(s) of the student has to compulsorily join in as co-applicant. In case of a married person, co-applicant can be spouse/parent(s)/parent(s)-in-law.

ELIGIBLE COURSES**

• Medical / Engineering / Management courses leading to graduate / post graduate education only from NAAC accredited institutions or accredited by NBA or Institutions of National Importance or Central Funded Technical Institutions. Medical courses should have been approved by Medical Council of India (MCI).

LOAN IN SUBSEQUENT YEARS OF COURSE

• Educational loans can also be considered for eligible students in case the student approach the bank in the subsequent years of the course provided the student has not availed loan for initial years from any other bank / FI.

QUANTUM

• Need based finance to meet the expenses worked out will be considered taking into account margins norms.
• The minimum quantum of loan under the Scheme should be above ₹7.50 lakh.
• The maximum quantum of loan under the Scheme will be Rs.15.00 lakh for inland studies & Rs.30.00 lakh for abroad studies.

MARGIN

• Study in India – 5%
• Study Abroad – 15%

EXPENSES CONSIDERED

• Tuition fee payable to college/ school/ university
• Hostel / mess charges
• Examination/ Library/ Laboratory fee
• Insurance premium for the student borrower
• Purchase of books/ equipment’s/ instruments/ uniforms
• Purchase of computer/laptop at reasonable cost, if required for completion of the course
• Travel expenses/ passage money for studies abroad
• Any other expense required to complete the course - like study tours, project work, thesis, etc.

REPAYMENT TENURE

• The maximum repayment tenure will be 15 years (after course & moratorium period).
• The accrued interest during the moratorium period (if not serviced) will be added to the principal amount while calculating Equated Monthly Installments (EMI) for repayment.

RATE OF INTEREST

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• If interest is regularly serviced during the course and moratorium period, i.e. prior to the commencement of repayment, then the student is eligible for interest rebate**.

SECURITY

• Mortgage of Agricultural land as collateral security subject to following conditions:
  • Agricultural properties will be accepted as Collateral Security for Education loans, only in States where it is permitted to mortgage Agricultural Land for purpose other than Agricultural Activities.
  • Agricultural Land accepted as collateral security should be properly demarcated with boundaries and easily accessible/marketable.

INSURANCE

• Life insurance of the student is mandatory to the tune of the loan amount.