Education Loan Scheme: Haryana Women Development Corporation(ELSHRWCD)

Overview

About ELSHRWCD

The name misleads almost every family that finds this scheme. The Haryana Women Development Corporation does not hand out an education loan, and no money reaches a student from it. A bank lends, on the bank's own terms, and the corporation buys down 5 percent of the annual interest on that loan for a Haryana girl. The debt stays the borrower's to repay in full.

The corporation has run this scheme since 01-04-2007, and its own scheme page states the design in two lines of eligibility: a loan is available as per the bank's education loan scheme for higher studies, and a subsidy of 5 percent simple interest comes out of the recurring bank rate. The same page has the bank disbursing the complete loan amount to the beneficiary and lodging the interest subsidy claim afterwards (Haryana Women Development Corporation). Nothing in that arrangement changes the amount borrowed. It changes the price of borrowing it.

The national scheme catalogue entry reproduced on this page puts the emphasis elsewhere, and that is where the idea of a state loan comes from: it says financial assistance and a 5 percent interest subsidy per annum are provided to female students, then specifies in its benefits that the corporation provides that interest subsidy of 5 percent per annum to the banks (myScheme, Government of India). Both descriptions fit the same arrangement read from different ends. The financial assistance a student receives is a bank's loan made cheaper; the corporation's money goes to the lender.

The Women and Child Development Department has been reporting the scheme's effect in those terms. In a statement issued on February 12, 2024, the state said 10930 women and girls had received interest subsidies worth Rs 2633.82 lakh under the scheme since 2008-09, and it described the arithmetic with a worked case: a bank charging 9.50 percent interest leaves the beneficiary carrying 4.50 percent once the state's 5 percent goes in (Directorate of Information, Public Relations and Languages, Government of Haryana).

The body paying that share is a state company registered under the Companies Act 1956, set up in 1982 as Haryana Economically Weaker Sections Kalyan Nigam Limited, given a women's wing in 1987 and converted into Haryana Women Development Corporation Limited on 1.4.1991 (Haryana Women Development Corporation). Its undated Right to Information disclosure on subsidy programmes records one line for this scheme, a 5 percent interest subsidy with the funds provision shown as State Government, and names no other body against it (RTI Annexure XII, HWDC).

Who runs it

Provider

At a glance

Key details

Calendar

Important dates

Nothing here runs on a session calendar. There is no opening or closing date, no last date tied to an academic year, and no annual notification: the only date that gates entry is the sanction date of the loan, which must fall on or after 1.4.2007 (Haryana Women Development Corporation). After that the rhythm is the bank's financial year, since the loan account statement reaches the corporation at the close of each year. For the state's part of the work, the SARAL listing sets the service delivery period at 29 days (Antyodaya SARAL, Government of Haryana).

Who can apply

Eligibility criteria

The corporation's eligibility text runs to a few lines and none of them mentions marks. All Haryana domicile and Haryana Government employees' girls are eligible, there is no constraint of income, caste or creed, and the levels it names are graduate, postgraduate, doctoral and post-doctoral, in the country and abroad (Haryana Women Development Corporation). Diplomas sit outside that page rather than on it: the scheme catalogue lists a professional or technical diploma as a qualifying level, and the state's own release names vocational and technical diplomas among the courses the scheme was meant to reach (myScheme, Government of India, Directorate of Information, Public Relations and Languages, Government of Haryana). That is unusually open for a state benefit, and it is still only half the test.

The other half sits with a bank. The subsidy attaches to a sanctioned education loan, so a student who satisfies every line above and cannot get a bank to sanction her loan has nothing to claim. The corporation's own rule confirms who does the lending: applicants may approach any bank offering education loans to girls, provided the girl is a Haryana domicile or the ward of a Haryana Government employee, and the state contributes 5 percent of the interest on the total loan (Haryana Women Development Corporation). Which course, how much and on what security are the bank's decisions, not the corporation's.

Who cannot apply

Exclusions

Nothing on the corporation's page is headed exclusions. Three of the rules it does print decide who falls outside the subsidy anyway. Only loans sanctioned on or after 1.4.2007 are eligible under the scheme (Haryana Women Development Corporation). The file cannot be completed without a certificate that no subsidy is being claimed from any other agency or institute, a document a student already drawing an interest subsidy elsewhere cannot honestly sign (Antyodaya SARAL, Government of Haryana). And where the parents are employees of the SBI Group and the bank is already lending to them below its public rate, the corporation pays only the difference in interest rather than the full 5 percent (Haryana Women Development Corporation).

Continuation

Renewal conditions

There is no annual re-application. The subsidy tracks the loan account for as long as the bank keeps claiming on it: the bank sends the corporation a copy of every subsequent disbursement with its date and amount, and at the close of each financial year it sends a statement of the loan account showing how interest was levied (Haryana Women Development Corporation). The claim cycle, in other words, belongs to the branch that holds the account. Every one of those filings is put on the bank, with no step named for the student in between (Haryana Women Development Corporation), so the branch is where to confirm that the year-end statement has actually gone in.

What you get

Award & benefits

The benefit is a rate cut on money that still has to be repaid.

How much that is worth depends on the size of the loan and how long it runs, and the corporation does not cap either. What it does publish is the money it has actually released, year by year, split between students studying in India and abroad.

Two things in that table are worth reading slowly. The number of women studying abroad has risen in each of the last three years, from 123 to 167, while the number studying in India has moved within a narrow band (Haryana Women Development Corporation). And the money released has grown faster than the count of beneficiaries, so the average subsidy standing behind each case is rising; the table does not say whether that is larger loans, accounts running longer, or a higher bank rate to buy down.

• Financial Assistance: Provided to female students under a Bank tie-up Education Scheme.1. Interest Subsidy: The Corporation will provide an interest subsidy of 5% per annum to the banks.1. Reduced Interest Burden: The scheme aims to reduce the interest burden on the student/guardian.1. Specific Interest Subsidy Condition: The Haryana Women Development Corporation (HWDC) will pay up to 5% interest subsidy on Education Loans to those female students who have availed the Education Loan from SBI Group and whose parents are employees of these banks and are being provided Education Loan at a lesser interest rate than the rate of interest for the general public. Hence, only the difference in interest of the subsidy will be paid by HWDC.

What to prepare

Documents required

The paperwork tells you when to apply. A bank sanction letter, a bank loan interest statement and a bank performa are on the list, so the file is assembled after the bank has said yes, never before. The SARAL service listing records all nine enclosures as originals with no attestation required (Antyodaya SARAL, Government of Haryana). Families sending a daughter overseas carry one extra item, an affidavit from the parent, and the state has separately named the Parivar Pehchan Patra among the identity documents it expects with the form (Directorate of Information, Public Relations and Languages, Government of Haryana).

Step by step

How to apply

The route runs through two offices at once. The loan application, with the testimonials and certified copies the bank's form asks for, goes to the bank, and a photocopy of the same goes to the District Manager of the corporation in that district; after appraisal and sanction the bank forwards a copy of the sanction letter to the same District Manager, who processes it and raises the demand on the head office so that funds are available when the claim falls due (Haryana Women Development Corporation). The bank then lodges the interest subsidy claim, attaching the loan application copy and the sanction letter.

The corporation's published service norms put a clock on each stage: verification by the District Manager within 15 days of the application reaching that office, bank formalities within 15 days, a sanction or rejection letter from the bank to the District Manager within 5 days, release of the subsidy by the District Manager within 10 days of the sanction, and disbursal of the loan by the bank within 15 days (RTI Annexure IV, HWDC). That annexure is undated, states the norms for the corporation's loan work as a whole without naming this scheme, and starts from a beneficiary applying to the District Manager, where the education loan page starts from the bank with a copy going to that office. It is the corporation's general service clock, not a rule written for this file. On the Antyodaya SARAL platform the same service is listed for submission by hand, online or through a kiosk, with a stated delivery period of 29 days (Antyodaya SARAL, Government of Haryana).

Tracking a file here means asking the two people who hold it. The District Manager's office in your district is the one that verifies the case and releases the subsidy, and the corporation publishes an address, a phone number and an email for each of them (RTI Annexure IX, HWDC). The other half of the answer sits with your branch manager, because a subsidy that is never claimed by the bank never becomes a file at all. Where the case does go in through Antyodaya SARAL, tracking is mechanical: the portal issues an Application Reference ID on submission that can be entered on its homepage to check status, sends an SMS at each step, and files an appeal to the First Grievance Redressal Authority by itself once a notified timeline is breached, and its helpline runs on 0172-3968400 from 7:00 AM to 8:00 PM, Monday to Saturday, excluding government holidays (Antyodaya SARAL, Government of Haryana).

How winners are picked

Selection process

There is no merit list and no ranking. Eligibility is a status test, and the credit decision that follows it is the bank's alone: the state has said plainly that the education loan will be provided by the bank only as per the education loan scheme of the bank (Directorate of Information, Public Relations and Languages, Government of Haryana). What the corporation decides is narrower, and it decides it after the bank: whether the sanctioned loan and the claimant fall inside the scheme, and when to release the subsidy against the bank's claim. Applications from female students are to be processed on priority by the banks (Haryana Women Development Corporation).

Fine print

Terms & conditions

The subsidy is paid to the bank, not into a student's account, and the state funds it directly (RTI Annexure XII, HWDC). Everything the bank charges above the subsidised 5 percent stays with the borrower, along with the whole of the principal.

The corporation's silence on the loan's terms reads differently once you look at its other schemes. Banks do the lending in those too, and it still publishes the terms it has settled with them.

Those ceilings and that moratorium belong to the schemes named beside them and nothing carries them across to an education loan; what the comparison shows is only which terms are written down. So the questions a borrowing family cares about most, the margin it has to put in, the security or third-party guarantee the branch will ask for, how long repayment is deferred and over how many years it then runs, are answered in the bank's sanction letter and nowhere on this scheme's pages. Read that letter before signing, because the corporation's 5 percent does not soften a term you agreed to.

Get help

Contact

The District Manager for your district is the working contact, and the corporation's Right to Information directory lists 20 such offices, each with an address, a phone number and a Gmail address (RTI Annexure IX, HWDC). Not every district has its own: Faridabad and Palwal are served by one office, at the ADC office in Sector 12, Faridabad.

The head office sits at SCO-212, Second Floor, Sector 14, Panchkula, on 0172-2564720, at hwdc1982@gmail.com and hwdc@hry.nic.in (Haryana Women Development Corporation). The Managing Director's office is at the same address on 0172-2584212 (RTI Annexure IX, HWDC).

Source

Official links

Frequently asked questions

From the official scheme FAQ (myScheme)

Read this

Disclaimer

Disclaimer

Scheme details are compiled from myScheme, the Government of India’s official scheme-discovery platform, and are reproduced without alteration. Amounts, deadlines and eligibility change between cycles, so always confirm on the official links above before applying. Expertie does not process applications or charge fees.

Explore more

Related scholarships

References

Sources