The Modi government has implemented several welfare schemes, including the Vocational Education and Training Loan scheme.
This scheme, a testament to the government’s commitment to the youth, provides financial assistance to unemployed individuals seeking vocational education.
It covers a wide range of expenses, including training course fees, tuition, examinations, library and lab fees, book and instrument purchases, and boarding and lodging.
Under this scheme, students can receive loans of up to four lakh rupees for two-year courses. However, the student must bear any additional course fees.
The scheme is offered by the National Safari Karmachari Finance and Development Corporation. It has a five percent fixed interest rate, though women students receive a 0.5% interest discount. The loan is to be repaid over seven years.
To qualify for the loan, the chosen course must be obtained from a Mission Society Organization of the Government Ministry Department or Corporation or the National Skill Development Corporation and last six months to two years.
Applicants must be at least 18 years old and provide documents, including an Aadhaar card, address proof, bank account details, caste certificate, and income certificate. Online applications are also available.
The scheme is designed to provide long-term benefits, helping lower-income individuals secure employment opportunities and career progress.
Interested individuals can apply online or visit the official website for more information at https://nskfdc.nic.in/en/content/home/home.
This scheme offers a promising future for those willing to invest in vocational education and training.