This is a "unique" programME which will benefit the tribal population with annual family income upto double the poverty line in pursuing higher education and technical education at a very low rate of interest, Tribal Affairs Minister V Kishore Chandra Deo said here. "It is a scheme which has been started for the ST students for the first time. This will enable them not only to actually gain seats in institutions and universities but also to sustain their courses which will last for four or five years," he told reporters here.

The six per cent rate of interest which is payable only after completion of the course or after getting a job will encourage the students from ST community to reach upto the levels where they can enroll for courses in higher and technical education, he said. The present limit on annual family income for the candidates willing to avail the scheme is Rs 39,500 for rural areas and Rs 54,500 for urban areas. To ensure smooth repayment of loan, the moratorium period in the scheme includes the course period plus one year or six months after getting job. "The beneficiary students will have to start paying back the loan only after they finish the course and six months after getting a job. This also can span over a period of five to ten years, which I think is very very reasonable," the Minister said.

Source: IBNlive