1. Objectives of the Scheme : The main objectives of the scheme are to promote pursuit
of higher education and technical education by younger population of Goa, to ensure
that economic conditions and financial difficulties do not come in the way of such
pursuit and, to assist eligible candidates by way of interest free loans to undertake
approved degree and diploma courses at undergraduate and post graduate levels, in
India or abroad.
2. Details of the Scheme: The scheme envisages grant of loans to younger population of
Goa to assist them in their pursuit of higher and technical education. It provides for
exemption from the payment of interest charges, as long as the loanees adhere to
repayment schedule strictly. For this purpose, maximum five years of study period
/course duration is covered in India and maximum of two years course duration is
covered for abroad courses. In the event that the situation faced by a particular candidate
requires minor modification in study period, the scheme provides for flexibility to make
adjustments. Failure to comply with the repayment schedule, however, will attract the
liability of payment of interest at a prescribed rate
3. The scheme enumerates the eligibility criteria to be followed for the selection of
candidates, criteria for economic/financial constraints and details of approved courses
that can be undertaken.
4. The Government will establish a “Higher Education Promotion Fund” (HEPF, from
which all loans that are sanctioned under this scheme will be disbursed and to which all
recoveries made under the scheme shall be credited. The Government will make
arrangements for management of HEPF and its audit.
5. Eligibility for grant of loans: Any person below the age of 30 years, who has been a
resident of Goa for a period of 15 years, shall be entitled to apply for, and receive, loans
under the Scheme provided he fulfills all the following conditions:
1 Has passed the qualifying examination i.e
a) Std Xth or XIIth for professional / non-professional courses at diploma /degree level
from any of the recognized institutions situated from Goa.
b) Graduation from recognized institutions in Goa for postgraduate courses.
c) Graduation from institutions outside Goa in case of those educational courses which
are not available in Goa.
d) Post Graduation for PhD courses.
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a) Studies in India: Has obtained 55% or more marks in the qualifying examination.
(For candidates belonging to SC/ST/OBC categories, the qualifying marks will be
relaxable by 10%).
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b) Studies abroad (outside India): Has obtained 60% or more marks in the qualifying
examination. (For candidates belonging to SC/ST/OBC categories, the qualifying
marks will be relaxable by 10%).
3. Meets the prescribed eligibility conditions relating to economic/financial constraints.
4. Undertakes any of the courses approved under this Scheme
6. Reservation of Candidates: Efforts will be made to accommodate all eligible applicants
for grant of loan. In the event that the number of candidates has to be restricted in any particular
year owing to the financial situation of the HEPF, it shall be ensured that not less than 2% of
the number of selected candidates belong to Scheduled Caste, 12% to Scheduled Tribe and
19.5% to Other Backward Classes. Further 30% of the selected candidates in each category
(General, SC, ST and OBC) shall be women. In case the number of otherwise eligible
candidates among reserved categories is less than the percentage prescribed above the slots
remaining vacant shall be offered to General category candidates.
7. Criteria for economic/financial constraint:- Applicants whose total family income,
including the income of both the parents not exceeding Rs.7,00,000 per annum shall be eligible
to apply for loans under this Scheme for undertaking approved courses within India. In the
event that a brother or sister of the applicant is also pursuing studies at Higher/Technical
education level (whether or not such sibling has applied for, or availed, loan under this
Scheme), the eligibility limit for family income will be raised to Rs. 8,00,000 per annum. In
case of entitled fees beyond Rs.1 lakh; relaxation of up to Rs.1.00 lakh in the income ceiling
may be granted by the Government on case to case basis.
8. For pursuing Higher or Technical education in an institution located outside India, the
family income limit for eligibility to apply for loans will be Rs. 12,00,000 p.a. In the event
that a brother or sister of the applicant is also pursuing studies at Higher/Technical education
level, within India or abroad, (whether or not such sibling has applied for, or availed loan under
this Scheme), the relevant eligibility limit for family income shall be raised to Rs.14,00,000
per annum. In case of entitled fees beyond Rs.6 lakh; relaxation of up to Rs.1.00 lakh in the
income ceiling may be granted by the Government on case to case basis.
9. Approved Courses: Loans under the scheme can be availed of for pursuing any
higher/technical education courses, at undergraduate or post graduate level in the fields of
Engineering (degree and diploma), Dentistry, Medicine, Pharmacy, Architecture, Finance
including Chartered Accountancy and Cost Accountancy, Law, Fine Arts, Home Science,
Management, Environment and Computer Science.
10. The following conditions must be fully met :
1. The course requires full time attendance.
1. The entitled Fees payable to the institution for undertaking the course should be at least
Rs.10,000/- p.a.
2. The course is recognized by any of the following institutions/authorities:
University Grants Commission (UGC)
All India Council of Technical Education (AICTE)
Medical Council of India (MCI)
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Dental Council of India (DCI)
Architectural Council of India (ACI)
Board of Technical Education, Goa
Any other recognizing authority approved by Govt. of India or Govt. of Goa.
11. In respect of educational courses offered by institutions located outside India. The list as
maintained and updated by www.arwu.org/www.usnews.com shall be considered. Only the top
500 Universities of the world or top 100 Universities in a particular Continent shall be
considered for the courses that are ordinarily not available in India.
