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Kalinga Sikhya Sathi Yojana

"Kalinga Sikhya Sathi Yojana (KSSY)" is an Educational Loan Scheme by the Department of Higher Education, Government of Odisha with the aim to bring down the financial burden on the parents of students who want to move forward with higher education.

Ministry / Department
Higher Education Department
Level
State
Benefit type
cash
Last verified: Recently

What is Kalinga Sikhya Sathi Yojana?

"Kalinga Sikhya Sathi Yojana (KSSY)" is an Educational Loan Scheme by the Department of Higher Education, Government of Odisha with the aim to bring down the financial burden on the parents of students who want to move forward with higher education.

Benefit
1. **Maximum Loan:** According to the rules of the scheme, a student can get a maximum of ₹ 10,00,000 as an educational loan under this scheme. 1. **Minimum Loan:** There is no minimum loan amount mentioned in the scheme. One can get any amount of loan up to ₹ 10,00,000. 1. **Period of Loan:** The period of repayment will be up to 10 years and 15 years in respect of loans sanctioned up to ₹ 7,50,000 and ₹ 10,00,000 respectively. 1. **Rate of Interest:** The applicants will have to pay only 1% interest on the loan amount. The balance amount of the interest will be borne by the Government of Odisha, Higher Education Department. The **Moratorium Period** of education loans is a course period plus one year depending on the banks. But under KSSY, financial assistance in the form of interest subvention shall be provided for the period of repayments including the moratorium period after the completion of the course. This will prove to be very beneficial to students. **NOTE:** The terms are conditions of the loan will be as per the norms of individual scheduled banks. The loan applications will be processed by the rules of the banks.
Level
State — Odisha
Ministry / Dept.
Higher Education Department
Benefit type
cash
Key eligibility
1. The student must be a resident/domicile of Odisha. 1. The annual income of the applicant's family should be less than or equal to ₹ 8,00,000 per annum. 1. Poor students willing to continue higher studies can apply for a loan under this scheme. 1. The student shouldn’t avail of similar benefit
Last verified
Recently

Benefits

1. **Maximum Loan:** According to the rules of the scheme, a student can get a maximum of ₹ 10,00,000 as an educational loan under this scheme. 1. **Minimum Loan:** There is no minimum loan amount mentioned in the scheme. One can get any amount of loan up to ₹ 10,00,000. 1. **Period of Loan:** The period of repayment will be up to 10 years and 15 years in respect of loans sanctioned up to ₹ 7,50,000 and ₹ 10,00,000 respectively. 1. **Rate of Interest:** The applicants will have to pay only 1% interest on the loan amount. The balance amount of the interest will be borne by the Government of Odisha, Higher Education Department. The **Moratorium Period** of education loans is a course period plus one year depending on the banks. But under KSSY, financial assistance in the form of interest subvention shall be provided for the period of repayments including the moratorium period after the completion of the course. This will prove to be very beneficial to students. **NOTE:** The terms are conditions of the loan will be as per the norms of individual scheduled banks. The loan applications will be processed by the rules of the banks.

Eligibility

1. The student must be a resident/domicile of Odisha. 1. The annual income of the applicant's family should be less than or equal to ₹ 8,00,000 per annum. 1. Poor students willing to continue higher studies can apply for a loan under this scheme. 1. The student shouldn’t avail of similar benefitArea: OdishaBenefit: cash

Documents Required

    How to Apply

    1. Step 1: Online application — step 1

      Registration: Step 1: Visit the Official Website of Vidya Lakshmi: https://www.vidyalakshmi.co.in/ Step 2: On the top right of the webpage, click " Register ". Step 3: Read the Instructions/Declaration carefully. Select the Checkbox and Click " I Agree ". Step 4: On the next page, fill in all the mandatory fields: First name, Middle name, Last name, Mobile number, Email ID, Password, and Captcha Code. Click " Submit ". You will be successfully registered on the portal. Your login details will be displayed on the confirmation page. Your login credentials will also be sent to the registered Mobile Number and Email ID. Application: Step 1: Visit the Official Website of Vidya Lakshmi: https://www.vidyalakshmi.co.in/. Step 2: On the top right of the webpage, click " Student Login ". Login using the credentials received on your Email ID / Mobile Number. Step 3: On the next page, click " Apply for Scholarship ". You will be directed to the Online Application Form. Fill in all the mandatory fields and upload the required documents in the said file type and file size. Step 4: Click " Submit ". On the next page, you will be displayed the Application Reference ID, confirming the successful submission of the application. Save this ID for future reference and for tracking the status of your application.

    2. Step 2: Offline application — step 1

      Step 1: Visit the nearest bank. At the inquiry window, ask for the " Kalinga Sikhya Sathi Yojana " application form. Step 2: Now duly fill out the application form by entering all the mandatory required details. Step 3: After that attach all the required (self-attested) documents to this application form. Step 4: Now submit this application form to the bank, and take a receipt of the same.

    Sources & References

    Ready to apply?

    Applications are accepted only on the official government portal.

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