Organization : National Handicapped Finance and Development Corporation NHFDC)
Service Name : NHFDC Loan Scheme For Vocational Education & Training For PwDs
Website :http://www.nhfdc.nic.in/schemes
Scheme Details : https://www.statusin.in/uploads/20185-Edu.pdf
Loan Scheme For Vocational Education:
Objective:
The scheme aims at providing financial support to those eligible PwDs who, have the minimum educational qualification, as required by the institution / organization running the vocational education or Training course eligible under the scheme . Implementation of the scheme
Related : NHFDC Scheme For Disabled Young Professional : www.statusin.in/20171.html
The scheme will be implemented through State Channelizing Agencies of NHFDC and the Banks, RRBs and other institution with whom NHFDC has signed an agreement.
Eligibility Criteria of PwD:
As per the criteria of Education Loan scheme of NHFDC
Courses Eligible:
Vocational / Skill development courses of duration from 2 months to 3 years run or supported by a Ministry/Dept./Organisation of the Govt. or a company/ society/organization supported by National Skill Development Corporation or State Skill Missions / State Skill Corporations, preferably leading to a certificate/ diploma/degree, etc. issued by a Govt. organization or an organization recognized /authorized by the Govt. to do so. State Level Bankers Committee (SLBC)/State LevelCoordination Committee (SLCC) may add other skill development courses/ programmes, having good employability.
Minimum Age:
18 years as on the date of application
Quantum Of Finance:
Need based finance to meet expenses of upto Rs 2.00 lakhs.
Expenses Considered For Loan:
** Tuition / course fee .
** Examination / Library / Laboratory fee
** Caution deposit
** Purchase of books, equipments and instruments
** Any other reasonable expenditure found necessary for completion of the course.
** Boarding Lodging
** Necessary aids and appliances required for completion of course, on need basis.
Margin : Nil
Rate Of Interest : As per education loan scheme of NHFDC.
Processing Charges : Nil
Security:
No collateral or third party guarantee will be taken. However, the parent will execute loan document alongwith the student borrower as joint borrower.
Moratorium Period :
Upon completion of the course, repayment will start after a moratorium period as indicated below :
** For courses of duration upto 1 year ** 6 months from the completion of the course
** For courses of duration above 1 yearn ** 12 months from the completion of the course.
Repayment : upto 7 years after commencement of the repayment
Insurance : Optional at the requirement of the borrower.
Prepayment :
The borrower can repay the loan any time after commencement of repayment without having to pay any prepayment charges.
Other Terms & Conditions :
Other terms and conditions as applicable to the NHFDC Educational Loan Scheme for pursuing higher education in India & Abroad” will be applicable to this scheme also.
About Us :
The National Handicapped Finance and Development Corporation (NHFDC) has been set up by the Ministry of Social Justice & Empowerment, Government of India on 24th January 1997.
The company is registered under Section 25 of the Companies Act, 1956 as a Company not for profit. It is wholly owned by Government of India and has an authorised share capital of Rs. 400 crores (Rupees Four Hundred Crore only). The company is managed by Board of Directors nominated by Government of India.