Kalinga Sikhya Sathi Yojana
Scholarship Amount
About This Scholarship
The Kalinga Sikhya Sathi Yojana is a beneficial scheme designed to support students pursuing higher education by providing financial assistance on education loans. It applies to students availing education loans of up to ₹10,00,000 from scheduled banks. The scheme primarily focuses on reducing the financial burden of interest payments.
Under this Yojana, eligible students can receive financial assistance in the form of interest subvention. This subvention aims to bring down the net interest payable by the student to just 1% per annum after the moratorium period. The scheme covers a wide range of courses offered at educational institutions that are eligible for the Government of India's interest subvention under the CSIS scheme. For loans up to ₹10,00,000, the overall repayment period, including the moratorium, is capped at 15 years.
Key Features and Conditions:
• Interest Subvention: Interest subsidy is provided throughout the entire repayment period, including the moratorium period after course completion. This is contingent on regular loan repayments.
• Default Policy: A temporary default in loan repayment for up to 90 days is permitted without affecting interest subsidy eligibility. However, the government will not cover any penal interest charged by the bank during this specific default period. If a default exceeding 90 days is later rectified, the interest subsidy will resume from the date of reinstatement, but penal interest by the bank will not be covered by the government, and the overall repayment period will not be extended.
• Loan Sanction Date: The interest subsidy applies to fresh education loans that were sanctioned on or after April 1st, 2016. The subsidy amount is paid directly to the lending bank.
• Specific Moratorium Subsidy: For students whose annual parental income falls between ₹4,50,000 and ₹6,00,000 and who do not qualify for the Government of India scheme, the Government of Odisha will provide interest subsidy specifically during the moratorium period.
• Bank List: A list of participating banks can be found on the official website.
Eligibility Criteria
To be eligible for the Kalinga Sikhya Sathi Yojana, applicants must meet the following criteria:
• The applicant must be a resident/domicile of the state of Odisha.
• The family's annual income from all sources should not exceed ₹6,00,000.
• The student must not be currently receiving similar financial benefits or scholarships from another government program or institution.
• The applicant must be pursuing a course of study in one of the following fields:
• Management
• Integrated Law
• Engineering
• Medicine
• The educational institution offering the course must be established by an Act of Parliament, State Legislature, or recognized by relevant statutory bodies.
Important Note: The KSSY scheme is applicable to all courses offered at educational institutions that are eligible for the Government of India's interest subvention under the Central Scheme for Interest Subsidy (CSIS) scheme.
Required Documents
Applicants are required to submit a comprehensive set of documents to support their application for the Kalinga Sikhya Sathi Yojana. Please ensure all documents are valid and clearly legible.
General Documents:
• Two passport-sized photographs of the applicant(s).
Proof of Identity/Age (for Student, Co-applicant, and Guarantor):
Applicants must provide any two of the following documents, with at least one from options 1-5 being mandatory:
• Ration card
• Voter's identity card
• PAN card
• Passport
• Driving license
• Office identity card
• Birth certificate
• School leaving certificate
For Co-applicant & Guarantor:
• Bank passbook/statement of accounts for the last six months. Submission of this document is COMPULSORY.
For the Student:
• Marksheet/degree certificate of the last qualifying examination.
• Letter of Selection/Letter confirming secured admission to the educational institution.
• Proof of admission, scholarship, and studentship/Identity card from the educational institution.
• Schedule of expenses for the specified course, issued by the educational institution.
• Information Brochure of the Institution, which should detail:
• Course duration
• Tuition fees, other fees/charges
• Hostel charges, boarding costs
• Costs for books/journals/equipment/instruments, stationery
• Examination fees
• Other miscellaneous fees
• Costs for study tours, project work, thesis
• Airfreight, if applicable
Proof of Employment/Income (for Co-applicant & Guarantor):
• Employment Verification Certificate (specific format may be enclosed or available).
• Salary Slip for the last three months.
• Form 16 issued by the employer.
• Income Tax Return/Assessment Order.
• Statement of means (submission is COMPULSORY for both Co-applicant & Guarantor).
Other Essential Documents:
• Proof of domicile for the co-applicant/parent.
• A letter from the Institution regarding the non-availability of hostel facilities, if applicable.
How to Apply
Eligible applicants can follow these steps to apply for the Kalinga Sikhya Sathi Yojana:
1. Visit the official website: Start by navigating to the official scholarship portal for the Kalinga Sikhya Sathi Yojana.
2. Register: Look for the 'Register' button or link, usually located on the right-hand side of the dashboard. Fill in all the required details to create an account. If you are already registered, simply log in using your registered email ID and password.
3. Access Application Section: After logging in, locate and click on the 'Click here to apply' option, typically found under the 'Moratorium period of the periods' section.
4. Initiate Application: Proceed to the 'Apply Now' button, usually situated on the right-hand side of the dashboard, and click on it to begin your application.
5. Account Creation (if prompted): Fill in any further required details and tick the checkbox to finalize account creation, if this step is separate from the initial registration.
6. Complete and Submit: Once your account is successfully created and you've accessed the application form, fill in all the necessary information accurately. Upload all the required documents as specified in the guidelines. Finally, review your application thoroughly and submit it.
The application can be accessed via the official government portal: https://dhe.odisha.gov.in/schemes-and-scholarship/online-application-module-for-scholarship-and-loan/kalinga-sikhya-sathi-yojna.