Odisha Kalinga Sikhya Sathi Yojana

Introduction

• Odisha Kalinga Sikhya Sathi Yojana is the students welfare scheme of Odisha Government.
• It was started on 27-06-2016.
• Odisha's Department of Higher Education is the nodal department of this scheme.
• The main objective behind launching this scheme is to provide financial assistance in term of loan to students to support their higher education.
• Under Odisha Kalinga Sikhya Sathi Yojana, the following financial assistance as loan will be provided to students :-
  • Maximum Loan up to Rs. 10,00,000/-.
• Students has to pay a nominal interest rate of 1% and the remaining interest balance will be borne by the Government.
• The repayment time period of loan are :-
  • 10 Years for Loan up to Rs. 7,50,000/-.
  • 15 Years for Loan up to Rs. 10,00,000/-.
• Loan under Kalinga Sikhya Sathi Yojana will only be provided for below mentioned courses :-
  • Management.
  • Integrated Law.
  • Engineering.
  • Medicine.
• All students are eligible to apply who secure their admission in any professional or technical course or in IIM or IIT.
• There is no limit to take minimum amount of loan, any student can take a loan up to Rs. 10,00,000/-.
• The moratorium period to repay the loan is 1 year after the course completion.
• Timely repayment of loan amount is is required under this scheme.
• Student can apply for loan under Kalinga Sikhya Sathi Yojana through Vidya Lakssmi Portal.

Eligibility

• Permanent Resident of Odisha.
• The Annual Family Income should be below Rs. 6 Lakhs.
• Student must secure admission in any of the following courses for higher education :-
  • Management.
  • Integrated Law.
  • Engineering.
  • Medicine.

Benefits

• Higher Education Loan up to Rs. 10,00,000/-.
• Period of Repayment of Loan is :-
  • 10 Years for Loan up to Rs. 7,50,000/-.
  • 15 Years for Loan up to Rs. 10,00,000/-.
• 1% of Rate of Interest will be payable.

Document Required

• Domicile of Odisha.
• Aadhar Card of Student.
• PAN Card.
• Any Other Student Identity Card.
• Bank Account Details.
• Marksheet of Last Exam.
• Income Certificate.
• Proof of Selection in Higher Education.

How to Apply

• Eligible Students can apply for the loan through Vidya Lakshmi Portal.
• They have to Register themselves first.
• Login ID and Password will be sent by the portal to students mobile and email id.
• Student have to Login in the same portal with the given Login ID and Password.
• Fill all the necessary details and upload all the required documents.
• Then click on submit and portal will generate the application reference ID for student future use.
• The Application Form and Documents will be sent to nodal Bank for scrutinization.
• Once verified the loan amount will be transferred in the bank account of student to pay his/her student fees.

Important Links

• Vidya Lakhsmi Portal.
• Odisha Higher Education Department Portal.
• Odisha Kalinga Sikhya Sathi Yojana Guidelines.
• Odisha Kalinga Sikhya Sathi Yojana FAQs.

Contact Details

• Odisha Department of Education Helpline Number :- 09437211691.