We have a good news for the students of Chattisgarh. The State Government has announced a loan scheme exclusively for the students. The students can avail education loans with just 4 percent interest. The scheme is named as Chief Minister's Higher Education Loan-cum-Grant Scheme. Students who want to study engineering and other professional courses in Chattisgarh will be provided these loans.
The Chattisgarh Government has already issued a notification in this regard. Technical Education Department has recently signed a memorandum of understanding with nodal banker Canara Bank. As per the latest scheme, a student belonging to a family with an annual income up to Rs 2 lakh will be eligible to avail the interest subsidy scheme.
The maximum limit of the loan under the scheme is up to Rs 4 lakh. The students will pay the 4 percent of the interest levied by the Bank. The remaining interest will be paid by the Government directly to the Bank.