Education Loans to Handicapped Students by NHFD

National Handicapped Finance & Development Corporation (NHFDC) provides education loan at concessional interest rates to handicapped students (fulfilling eligilibility critera to avail loan) to pursue higher studies in India upto Rs. 7.50 lakh and abroad upto Rs. 15 lakh.

The interest rates are:

(i) Upto Rs. 50,000/- -5% p.a.
(ii) Above Rs. 50,000/- -6% p.a. and upto Rs. 5 lakh
(iii) Above Rs. 5 lakh -8% p.a.

Also, a rebate of 1% on interest is given to women beneficiaries.

14 Handicapped students have availed education loans from NHFDC from 2007-2008 to 2009-10. NHFDC functions as an apex corporation and channelises its funds through State Channelising Agecies (SCAs) for the welfare of Persons with Disabilities (PWDs).  The proposal for education loans above Rs. 1.50 lakh received from SCAs are sanctioned at NHFDC level and the proposals upto Rs. 1.50 lakh are sanctioned by the SCA under delegated authority.  This information was given by Shri. D. Napoleon, the Minister of State for Social Justice & Empowerment, in a written reply to a question in the Lok Sabha today.

Source: Press Information Bureau