The pursuit of higher education remains one of the biggest challenges for students from less privileged backgrounds. Lack of funds often becomes a deterrent for aspiring and able students. In a country like India, where the reach of education needs to be widened, incentives and financial aid can go a long way in promoting education.
Shrimad Rajchandra Vidya Vikas Yojana is an initiative through which interest-free loans and scholarships are provided to less privileged and deserving students who are applying for higher/technical education programmes. It is customised separately for rural and urban students.
- Rural Scheme
Presently, the scheme largely focusses on financial assistance to those in rural areas of the Valsad and Navsari districts of South Gujarat, with priority given to students from the interior villages in Dharampur and Kaprada who are unable to pursue higher education due to financial constraints:
- Rural Scholarship is a merit-cum-means scholarship in the form of a financial reward. It supports incidental expenses of students enrolled in various courses post Grade 12. The amount of the scholarship varies depending on the course and student need.
- Rural Interest-Free Loan is an educational loan program whereby financial assistance is extended to students in need for the purpose of education. Interest-free Loans are provided to students who have completed Grade 12 to encourage them to pursue graduate and post graduate degrees.
How can I apply?
- Urban Scheme
The main scheme offered for urban students is of Interest-Free Loans for in-need students for University education. The scheme requires an undertaking by the borrower as well as a guarantor, and is designed such that the loan recovery is done on a predetermined schedule and zero-interest basis.
How can I apply?