Scholarship
Education Loan Scheme (NSFDC)(ELS-NSFDC)
Overview
About ELS-NSFDC
The Education Loan Scheme is run by the National Scheduled Castes Finance and Development Corporation (NSFDC), a non-profit company set up in 1989 under the Ministry of Social Justice and Empowerment. NSFDC exists to finance the economic advancement of Scheduled Caste families, and this scheme applies that role to education by lending against the cost of full-time professional and technical study.
The support is a loan, so it is repayable rather than a grant you keep. It covers admission to recognised institutions for professional or technical courses. A student takes it on knowing the amount has to be paid back on the terms NSFDC sets.
The scheme is meant for students from the Scheduled Caste community whose family income falls within the ceiling NSFDC applies. You do not approach NSFDC directly; applications go through the State Channelizing Agency in your state or union territory, which appraises the case and forwards it to NSFDC for sanction before funds are released. The exact income limit, loan ceiling and interest terms are listed in the scheme's official record, and you should confirm them there before applying.
Sources: myScheme – Education Loan Scheme (NSFDC) · Wikipedia – National Scheduled Castes Finance and Development Corporation · Buddy4Study – NSFDC Education Loan Scheme for SC Students
Who runs it
Provider
Ministry Of Social Justice and Empowerment
Central Government
Department of Social Justice & Empowerment · National Scheduled Castes Finance And Development Corporation
At a glance
Key details
| Level | Central |
| Scheme type | Centrally Sponsored Scheme |
| Category | Banking,Financial Services and Insurance, Education & Learning |
| Beneficiaries | Individual |
| Benefit type | Cash |
| Application mode | Offline |
Calendar
Important dates
Across all open application cycles.
| Cycle | Stage | Date |
|---|
Who can apply
Eligibility criteria
| The applicant should be a student pursuing regular full-time Professional or Technical courses in a recognized institution in India or abroad. | |
| The applicant should belong to a Scheduled Caste community. | |
| The applicant's annual family income should be less than ₹3,00,000/-, both in rural and urban areas. | |
| The education loan assistance will be provided as a one-time assistance. |
What you get
Award & benefits
- Maximum Loan Limit: Up to ₹30,00,000/- (for studies in India) and upto ₹40,00,000/- (for studies abroad) or 90% of course fee, whichever is less.
- Rate of Interest: For studies in India: NSFDC shall charge interest @ 2% per annum from the SCAs, which in turn, shall charge 6% per annum from the beneficiaries. In case of women beneficiaries, an interest rebate of 0.5% is provided. - For studies abroad: NSFDC shall charge interest @ 3% per annum from the SCAs, which in turn, shall charge 7% per annum from the beneficiaries. In case of women beneficiaries, an interest rebate of 0.5% is provided.
- Repayment Period: The maximum repayment period under the Educational Loan Scheme is as under:-
- For Loan up to ₹10,00,000/-: Within 10 years - For Loan above ₹10,00,000/-: Within 12 years
What to prepare
Documents required
Step by step
How to apply
- 1Apply offline
See the official links below for the application portal.
Source
Official links
Questions
ELS-NSFDC – FAQ
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 — always confirm on the official links above before applying. Expertie does not process applications or charge fees.