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COMPREHENSIVE EDUCATIONAL LOAN ( CEL ) |
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The Govt. of Sikkim has introduced
Comprehensive Educational Loan for granting
loan to students of Sikkim desiring to
pursue their higher studies within India and
abroad w.e.f July 2007. SIDICO is the Nodal
Agency for implementation of this scheme.
Loan processing fee @ 0.5% shall be charged
on the sanctioned amount.
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The quantum of
loan for study is as under : |
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a)
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Study within Sikkim ( maximum ) Rs.10.00 lakhs |
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b)
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Study in other states - do - Rs.12.00 lakhs |
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c)
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Study abroad - do - Rs.15.00 lakhs |
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Rate of interest |
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The
loan under this scheme is interest free
during the course period and thereafter it
shall bear interest @ 6% p.a.
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Eligibility
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i) |
Study loan within Sikkim is restricted to
members of BPL families for full time professional courses only. |
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ii) |
Benifit shall be restricted to children of person whose gross income from all sources does not exceed Rs. 10.00 lakhs annually for study
within Sikkim, Rs 12.00 lakhs annually for study outside Sikkim in India and Rs. 15.00 lakhs annually for study in foreign countries.
The income Certificate shall be certified by the District Collector concerned, subject to revision from time to time. The District
Collectors shall, however, ensure that income certificate given by their officers are accurate.
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iii) |
Study loan benefit is restricted to
only one member of the family except
in case of BPL families. |
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iv) |
The institution of study must be
recognized by the competent
authority. |
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| v) |
Children of Government / Public Sector
Undertaking employees are also be eligible
subject to clause No. ( i ), ( ii ) and
(iii) above. |
| vi) |
The Comprehensive Education Loan shall be available only for pursuing : -
a) Technical, professional and post graduate course;
b) MBBS courses recognized by the Medical Council of India (MCI) whether in India or abroad;
c) Medical, Post Graduate or Research work in a foreign university.
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PROCEDURES |
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| i) |
The Applications for load shall be received from the month of June to August of each year. |
| ii) |
Within each category of the people as indicated under I (2) (i) above, selection of the loanee shall be on merit, based on the marks
obtained by the candidate at the Board/University examination. |
| iii) |
In selecting the loaness, preference shall be given to candidate who have secured admission to leading professional institutions namely
Indian institute of Technology (IIT), Indian Institute of Management (IIM), National Institute of Information Technology (NIIT),
Natioal Institute of Fashion Technology (NIFT) ect. |
| iv) |
Sikkim Industrial Development and investment Corporation Ltd. shall be the prescribed agency to accept all applications and
disburse the loan amount at their end duly ensuring that the eligibility criteria have been met and that all necessary obligations
and formalities that are required to be fulfiled have been fulfilled. |
| v) |
Loans shall be disbursed by Sikkim Industrial Development and Investment Corporation Ltd. after final approval of the Government
based on the recommendation of the Committee comprising of Secretary, Human Resource Development Department as the Chairman Director,
Directorate of Capacity Building as Member and Managing Director, Sikkim Industrial Development & Investment Corporation as
Member Secretary. |
| vi) |
A list of the loanees with relevent details shall also be submitted for information of the State Government by Sikkim Industrial
Development and investment Corporation Ltd. through directorate of Capacity Building of Personnel every year. |
| vii) |
The Directorate of Capacity Building shall ensure wide publicity through Sikkim Herald regarding the Scheme and the last date of
submission of application so that all eligible Sikkimese student have a fair chance to avail the facility. |
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Documents required |
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The applicant is required to submit attested
copy of following documents: |
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a) |
Sikkim Subject / Certificate of
Identification |
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b) |
Occupation of parent / guardian |
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c) |
Income certificate of parents |
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d) |
Education qualification certificates |
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e) |
Letter of admission issued by the
College / University / Institute |
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g) |
Tuition fees and cost of study
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If study is proposed abroad,
following additional documents are
required: |
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b) |
Admission letter of Institute |
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Disbursement |
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The
loan under this scheme is released
directly in favour of the Institute
after executing mortgage deed and
other necessary loan documents. |
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Repayment of loan |
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The loan is payable in five to seven
year in Equated Monthly Installment
( EMI ) basis after the moratorium
period.
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Committee
members for the above scheme |
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Secretary,HRDD,
Govt. of Sikkim
:Chairman |
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Director,Capacity
Building,Govt. ofSikkim
:Member |
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Managing
Director, SIDICO
:MemberSecretary |
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