Interest-Free Educational Loan Scheme Launched in Goa

June 27, 2017 | By Jagjit Singh | Filed in: Goa, Government Schemes, State Government, Yojana.

Interest-Free Educational Loan Scheme (IFEL) a scheme launched by the government of Goa for the students studying in Goa. The scheme was launched under the supervision of (Goa Education Development Corporation). Under the plan, the administration will be giving an intrigue free advance to degree and confirmation courses at undergrad and postgraduate levels in India or abroad. The students would only need to pay back a principal amount of the total loan taken by the candidate and the government will bear the interest on it.


Advantages of Interest-Free Education Loan Scheme

  • Advantages of the advanced education in India or abroad
  • Understudy simply need to pay back important sum
  • Credit for advanced education in India or abroad

Execution of the IFELS

The government will provide a maximum loan of INR. 10 lakhs for the courses conducted in India for over 5 years and a maximum loan of INR. 16 lakhs for the courses directed abroad for more than 2 years.

Qualification criteria for Interest-Free Education Loan Scheme

  1. Candidate ought to be occupant of Goa
  2. The candidate ought to be under 30 years of age
  3. Candidate Should have cleared Class X and XII exams for admission to courses at recognition or degree level in any perceived foundation in Goa
  4. Candidate Should have gotten a graduation testament from any perceived establishment
  5. Candidate ought to have a base total of 60% in Std. X and/or XII in case of general category and percentage of up to 50% in case of SC/ST/OBC
  6. Annual family income of student should not be more than INR.200000/-

Documents required for Interest-Free Education Loan Scheme

  1. Identity proof such as Aadhaar card
  2. Residence Certificate
  3. Birth Certificate
  4. Family income certificate
  5. 10th or 12th mark sheets
  6. Diploma passing certificate in case of diploma
  7. Passport size photos
  8. True copy of Proof of admission
  9. Power of Attorney in the name of a working parent (in case of studies outside Goa)
  • Bank account details
  • Caste certificate if required

How to Apply for Interest-Free Education Loan Scheme?

  1. Candidate may apply for Interest-Free Education credit on the web
  2. If you are new candidate at that point tap on enrol and fill basic subtle elements
  3. Once after creating a profile, applicant will get a USERNAME and PASSWORD
  4. Now, click on login portal and fill in your USERNAME and PASSWORD
  5. Once login, fill up essential details such as personal details, educational details, course for which loan is applied, background details and list of documents required to upload with fresh form only
  6. Fill the form and submit it
  7. Submit the filled in form, an enrollment number will be produced
  8. The applicant should download and print this for references
  • Applicant also renew their form online by just log in on the portal

References and details

  1. For more details about Interest-Free, Education Loan Scheme visit the link 
  2. Goa Education Development Corporation


The world is ending up noticeably progressively specific and complex and instruction is advancing to address those issues, understudies today can browse an extensive variety of courses and projects at all levels like graduate, post graduate degree, confirmation, professional preparing in India and abroad.

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