New Delhi: Delhi government has given its approval for providing educational loans for pursuing technical and professional education to all boy and girl students belonging to minority communities as well as all backward classes. Delhi government’s Development Authority Ltd. will provide educational loans to students belonging to minorities, scheduled castes, scheduled tribes and other backward clases and people in handicapped categories. Students coming to educational institutions in India for technical and professional education will be given such loans to the extent of Rs. 7 lakh and upto Rs. 15 lakh to students for acquiring such education in foreign countries.

Government has laid emphasis on providing more benefits to students of Delhi’s historical and minority Jamia Millia Islamia University. Delhi government’s approval to this effect has been communicated to Jamia Millia administration by (Delhi) Development Authority Ltd. It is said that Jamia administration has asked all its faculties and departments that in order to convey this information to all students studying in Jamia, this information should be displayed on their notice boards so that the maximum number of students of these categories could take advantage of this scheme so as to make their career and future bright. According to Jamia administration, information to this affect has already been obtained and Jamia is giving special emphasis to this scheme / plan.

Under this scheme of educational loans, only the students getting professional and technical education within and outside the country  and only in and from government educational institutions will get loans. The following conditions will have to be observed: Educational courses should meet the needs of modern times and employment-intensive. The institutions imparting such technical and professional education should be recognised by central or state governments and these courses must be in the process of being taught for at least the past three years. The duration of such courses should not be of more than five years. According to Delhi Development Authority Ltd. sources, for loans exceeding Rs. 50,000 interest at 6 percent and on loans above Rs. 5 lakh interest at 8 percent will be charged. Recovery of these educational loans will be made after exactly six months of completion of education or of getting a job.  (Shakeel Ahmad Rahmani )