Organization : Panjab University, Dean of University Instruction
Scholarship Name : Merit–cum-Means Loan Subsidy Scheme
Application Last Date : 15th Sept. 2016
Website : http://dui.puchd.ac.in/
Notification : https://www.scholarships.net.in/uploads/10434-scholarships.pdf
Merit–cum-Means Loan Subsidy Scheme:
Grant of ‘Merit–cum-Means Loan Subsidy Scheme’ in self financing courses.
Related : NSP Vidya Lakshmi Loan Search : www.scholarships.net.in/4386.html
Accordingly, the benefit is to be extended to the students who fulfill the following conditions :-
Institution of a corpus for meritorious and needy students in the self financing courses :
The education loan subsidy may be given on the basis of merit-cum-mean basis out of the interest earned on the Corpus of Rs. one crore to the students who have taken education loan from any nationalized bank for undertaking Graduate/Post-Graduate self financing courses in the University as per following guidelines
1. The amount of education loan subsidy shall be Rs. 25,000/- per annum per student for once during the course. The maximum number of students shall be 50 in a year. This amount has been recommended on the basis of present return on the Corpus. It shall be reviewed on yearly basis.
2. The income limit to be eligible to qualify for receiving education loan subsidy under this scheme shall be Rs. 1.5 lacs family income per annum. In case of less number of candidates, the income limit may be increased to Rs. 4.80 lacs.
3. The education loan subsidy shall be disbursed at the end of the academic year after the declaration of result to those students who secured 60% marks.
4. This subsidy shall be disbursed on the basis of a certificate from the nationalized bank from where the student has taken education loan. The subsidy would be towards the principle amount of the loan and the amount of subsidy shall be paid to the bank directly.
5. The students claiming subsidy under this scheme should not have taken any other scholarship or assistance from an other agency for that course. In this regard an undertaking shall be obtained from the student.
Application Procedure:
The students who fulfill the conditions and desirous to avail the said loan subsidy may apply for the purpose on the prescribed Proforma. The said application should reach in the office of the Assistant Registrar Account-II, Panjab University, Chandigarh latest by 15th Sept. 2016. Incomplete applications will not be entertained/ the applications received after the due date will be rejected.