Government Schemes Odisha Yojana

Kalinga Siksha Sathi Yojana in Odisha

Mukesh Jindal
Written by Mukesh Jindal

The government of Odisha has come up with a new loan scheme for to aspire the students who are willing to proceed ahead with their further studies. The CM Mr. Naveen Patnaik introduced the scheme on the 27th of June 2016 named as the Kalinga Sikshya Sathi Yojana for the students at only 1% of interest. The scheme was launched to bring down the financial burden on the parents of the students who want to move forward with higher education.

This is the first time when a loan will be granted at such a low rate of interest. The scheme was dedicated to Biju Babu who was one of the youngest achievers in the field of science from Kalinga UNESCO.


Features of the scheme

  • The KSSY is an educational loan for the poor students who want to pursue higher studies. The loan would be available on the basis of their merit and family income.
  • The interest rates for the loan will be at 1%, this would be the minimum interest for any educational loan till date.
  • The budget allotted for the scheme is around INR.500 Crore. As per the state government, the scheme has been launched to encourage more students to pursue their higher studies make them a successful.
  • The applicants will have to deposit a collateral or security with the bank to receive the loan.

Educational loan under the scheme

  • The KSSY would give the students up to 10 lakh rupees to proceed for the higher courses
  • The maximum loan amount that can be availed is up to 10 lakh rupees
  • The minimum loan amount that can be availed could be anywhere till INR. 10,000,00
  • The prepaid loan amount should be repaid by the student or the applicant by the next 4-5 years of time, the date of repayment would be calculated from the date the loan has been sanctioned.
  • The rate of interest is as low as 1% the students or the applicants will have to pay only 1% interest on the loan amount

The KSSY eligibility criteria

  • The annual income of the family of the applicant must be a maximum of 4.5 lakhs per annum.
  • There is a need for security or collateral to be deposited to the bank from where the loan is being taken
  • The poor students who are willing to continue with their studies can apply for the loan under the scheme before they apply one must show the family income details to the banks
  • The beneficiaries will be the students who are economically weaker and can’t afford the higher education, especially the costly ones such as medicine, law, and engineering etcetera.

Documents required to apply for the scheme

  • Age and ID proof of the student
  • Mark sheet copy of the previous board exams
  • Pay slip of the earning members of the family
  • Documents regarding the security
  • For the business holders bank account statements

For the application form, you would be required to fill in your

  • Contact details
  • Course names
  • Marks in boards
  • Amount of the loan
  • Security details etcetera

Course list under the KSSY loan

  • Medical course (MBBS/MD)
  • Law courses (LLB/LLM)
  • Management courses (BBA/MBA/MBM)
  • Engineering courses (Mechanical/Electrical/Civil/Computer) and
  • Other Vocational courses

Benefits of the scheme

  • The scheme is in complete favor for the poor students of Odisha.
  • The loan can be availed easily by the poor students
  • The interest rate is very low and this also allows a lower financial burden on the parents of the students.
  • The maximum loan amount in 10 lakhs.


About the author

Mukesh Jindal

Mukesh Jindal

My name is Mukesh Jindal, and I am from New Delhi, India. I am an engineer by profession. I am employed by an IT company in which I work. My topics of interest include technology, mobile, and apps.

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