Kalinga Sikha Sathi Yojana: All You Need To Know
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Kalinga Siksha Sathi Yojana: Everything You Need To Know

Bhubaneswar: The Kalinga Siksha Sathi Yojana will benefit the students, who have availed educational loan from April 2015, said a resolution issued by Odisha Govt. on Thursday.

The state government has issued a resolution for implementation of the educational scheme to provide a loan at 1% interest to the students pursuing higher education. This resolution shall come into effect from the financial year 2015-16.

“That means students, who have availed fresh bank loan on or after April 1, 2015, under Government of India scheme, are only eligible for such benefit. Loans paid by banks prior to 2015-16 shall not be covered under the scheme,” said the resolution.

The scheme applies to the students availing education loan from scheduled banks up to 10.00 lakh. The course of study should be in Management or Integrated Law or Course of Engineering or Medicine in any educational institution in India.

The repayment period shall not be more than ten years including the moratorium period if the loan amount is up to Rs 7.50 lakh. Similarly, the repayment period shall not exceed fifteen years including the moratorium period for loans up to 10.00 lakh.

The selection of beneficiaries and the documentation including security against the loan will be as per the terms of the respective bank, said the resolution.


In order to avail the benefit, the applicant student must be a resident of Odisha.

The annual income ceiling of parents must be below 6.00 lakh from all sources. The annual income includes income of father/mother and spouse (in the case of married students) from all sources for the purpose of availing this benefit.

Students should not have availed similar benefit from any other government/ institution for the same purpose.

Note 1: The residential certificate shall be issued by the Revenue Officer not below the rank of Additional Tahasildar for the above purpose.

Note 2: The income certificate can either be self-certified based on the copy of the validly submitted Income Tax return or it can be a certificate issued by Revenue Officer, not below the rank of Additional Tahasildar.

Under the revised scheme, financial assistance shall be provided in the form of interest subvention at such a rate that the net interest payable by the student after the moratorium period becomes 1% per annum with a stipulation that the interest subsidy will be provided only if the loan repayment is 100% regular.

“That means in the case of any default or irregular repayment, the benefit of subsidy shall not be extended further. The interest subsidy shall be paid to the bank directly from which the student has availed the loan,” the resolution said.

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