Government launched the scheme Shiksha ka Haq under which every child was entitled to quality education. Now it is subsidy on educational loans. It is really a great move by the government, with the increase in cost of living it is really difficult for the family with limited means to educate their child. Now with the launch of this subsidy a lot of avenues are open for students willing to study technical and professional courses. The government is allowing rebate of Rs 1 lakh on tution fee for any educational college in India, tax rebates for tution fees, rebate on interest paid on education loans. Interest subsidy scheme is not available for institutions outside India.
The benefit is available for family whose annual income does not exceeds Rs 4.5 Lakhs. The benefit is available for loans taken in the year 2009 – 2010 and the subsequent years.
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