Kalinga Sikhya Sathi Yojana is an initiative launched by the Government of Odisha to provide educational loans to students. This scheme, introduced by the Hon’ble Chief Minister of Odisha, Shri Naveen Patnaik, on 27th June 2016, aims to reduce the financial burden on parents and promote higher education among students in Odisha. The scheme offers educational loans up to ₹10,00,000 at a very low-interest rate of 1%, with the balance interest amount being borne by the Government of Odisha. The scheme covers all courses, including medicine, engineering, law, and management, provided by recognized educational institutions in India.
The primary objective of this scheme is to ensure that financial constraints do not hinder students from pursuing higher education. By offering affordable loans, the Government of Odisha hopes to increase the enrollment rates in professional and technical courses, thus empowering the youth of the state with better career opportunities.
| Feature | Description |
|---|---|
| Name of the Yojana | Kalinga Sikhya Sathi Yojana |
| State | Odisha |
| Initiated By | Hon’ble Chief Minister of Odisha, Shri Naveen Patnaik |
| Yojana Overview | An educational loan scheme providing loans up to ₹10,00,000 with only 1% interest for students pursuing higher education in professional or technical courses. The scheme aims to reduce the financial burden on students’ parents. |
| Beneficiaries | Students who are residents/domiciles of Odisha, with family income ≤ ₹6,00,000 per annum, pursuing courses in management, integrated law, engineering, medicine, or other professional courses recognized by statutory bodies. |
| Registration Process | Online/Offline |
| Official Website | Vidya Lakshmi Portal |
Table of Contents
Objectives of Kalinga Sikhya Sathi Yojana
- Affordable Educational Loans: The primary goal of the scheme is to provide affordable educational loans to students in Odisha. This ensures that financial barriers do not prevent students from accessing higher education.
- Support for Professional and Technical Courses: The scheme specifically targets students pursuing professional and technical courses such as engineering, medicine, law, and management. This focus helps in creating a skilled workforce in the state.
- Reducing Financial Burden: By offering loans with just 1% interest, the scheme significantly reduces the financial burden on the parents of the students. The Government of Odisha covers the remaining interest, making higher education more accessible.
- Increasing Higher Education Enrollment: The scheme aims to increase the enrollment rates in higher education by providing necessary financial support. This, in turn, helps in the overall development of the state’s educational infrastructure.
- Ensuring Equal Opportunities: The scheme ensures that students from all economic backgrounds have equal opportunities to pursue higher education, thus promoting social equity and inclusion.
Registration Process
Online Registration
The registration process for the Kalinga Sikhya Sathi Yojana is straightforward and is primarily conducted online through the Vidya Lakshmi Portal. Here’s a step-by-step guide to the registration process:
- Online Registration:
- Visit the Official Website of Vidya Lakshmi: Vidya Lakshmi Portal
- Click on “Register” on the top right of the webpage.
- Read the instructions and declaration carefully, select the checkbox, and click “I Agree”.
- Fill in all the mandatory fields including first name, middle name, last name, mobile number, email ID, password, and captcha code. Click “Submit”.
- After successful registration, your login details will be displayed on the confirmation page and sent to your registered mobile number and email ID.
- Application:
- Log in to the Vidya Lakshmi Portal using your credentials.
- Click on “Apply for Scholarship” and you will be directed to the online application form.
- Fill in all the mandatory fields and upload the required documents as per the specified file type and size.
- Click “Submit”. An Application Reference ID will be displayed confirming the successful submission of your application. Save this ID for future reference and tracking the status of your application.
Offline Registration
For those who prefer offline methods, the Kalinga Sikhya Sathi Yojana also allows for offline registration. Here’s a step-by-step guide to the offline registration process:
- Visit the Bank:
- Go to the nearest bank. At the inquiry window, ask for the “Kalinga Sikhya Sathi Yojana” application form.
- Fill Out the Application Form:
- Duly fill out the application form by entering all the mandatory required details.
- Attach Required Documents:
- Attach all the required (self-attested) documents to the application form.
- Submit the Application Form:
- Submit the completed application form to the bank and take a receipt of the same.
Benefits of this Yojana
The Kalinga Sikhya Sathi Yojana offers numerous benefits to students:
- High Loan Amount: Students can avail of educational loans up to ₹10,00,000, which can cover a significant portion of their higher education expenses.
- Low-Interest Rate: The scheme offers loans at an interest rate of just 1%. The remaining interest amount is borne by the Government of Odisha, making it highly affordable for students and their families.
- Flexible Repayment Period: The repayment period for loans is up to 10 years for loans sanctioned up to ₹7,50,000 and 15 years for loans up to ₹10,00,000. This extended repayment period provides ample time for students to repay their loans after completing their education and securing employment.
- Moratorium Period: The scheme includes a moratorium period which is the course duration plus one year. This period is crucial as it allows students to focus on their studies without worrying about loan repayments.
- Comprehensive Coverage: The scheme covers a wide range of courses including medicine, engineering, law, and management, ensuring that students from various fields can benefit from it.
Eligibility Criteria
To be eligible for the Kalinga Sikhya Sathi Yojana, students must meet the following criteria:
- Residency: The student must be a resident or domicile of Odisha.
- Family Income: The annual income of the family should be less than or equal to ₹6,00,000 per annum.
- Course of Study: The student must be pursuing a course in management, integrated law, engineering, medicine, or any other professional course recognized by the statutory bodies in India.
- Non-Availed Benefits: The student should not be availing of similar benefits from any other government scheme or institution for the same purpose.
Required Documents
Applicants need to submit the following documents for the Kalinga Sikhya Sathi Yojana:
- Aadhar Card: A unique identification number is mandatory for all applicants.
- Passport Size Photograph: Recent passport size photograph of the applicant.
- PAN Card: Permanent Account Number for identification and financial records.
- Educational Certificates: All relevant educational certificates, including mark sheets of the previous qualification and the document indicating admission into a technical/professional course.
- Residential Certificate: Proof of residence issued by the Tahasildar or Additional Tahasildar.
- Income Certificate: Proof of family income issued by the Tahasildar or Additional Tahasildar or a self-certified copy of the IT return.
- Bank Passbook: Copy of the bank passbook showing the account details of the student.
Features of this Yojana (If Present)
The primary features of the Kalinga Sikhya Sathi Yojana include:
- Government Backed Loan: The interest on the educational loan is subsidized by the Government of Odisha.
- Wide Course Coverage: Includes a range of courses such as engineering, medicine, law, and management.
- High Loan Limit: Students can borrow up to ₹10,00,000, covering substantial educational expenses.
- Easy Application Process: The application process is straightforward and can be done online through the Vidya Lakshmi Portal.
By understanding and utilizing the benefits and features of the Kalinga Sikhya Sathi Yojana, students in Odisha can greatly reduce their financial burden and pursue higher education with ease. This scheme plays a crucial role in promoting educational equity and supporting the academic ambitions of students across the state.
