Odisha Govt Raises Educational Loan Amount under Kalinga Sikhya Sathi Yojana

Bhubaneswar: The Higher Education department of the Odisha government has decided to increase the limit of loan amount under Kalinga Sikhya Sathi Yojana from Rs 10 lakh to Rs 20 lakh from the 2023-24 academic session.

Added to it, the income ceiling of parents under this education loan (interest subvention) scheme, launched in 2016-17, will be increased to Rs 8 lakh from Rs 6 lakh. This loan scheme will cover students studying in the state as well as those studying abroad.

The existing students, who have availed the interest subvention under the scheme, will be excluded from it.

According to sources, this change in the criteria of the loan scheme will cost the government Rs 25 crore more for five years.