The Delhi government has sanctioned a total of Rs 12.13 crore as student loan from 2015 to 2021 under its Higher Education and Skill Development Guarantee Scheme, according to official data.
As part of the scheme, students can avail collateral-free loans of up to Rs 10 lakh for higher education with the Delhi government acting as the guarantor for paying back the loan amount in case the applicant defaults.
A corpus of Rs 30 crore, known as the Delhi Higher Education and Skill Development Credit Guarantee Fund, has been created to provide an appropriate guarantee. According to official data, till July 27, a total of Rs 12,13,04,299 has been sanctioned. The Delhi government had received 1,061 applications from 2015 to 2021 and out of these 348 have been sanctioned. For the year 2021-22, it received 11 applications but none of them has been sanctioned. In fiscal 2015-16, a total of 58 applications were received and all of them were sanctioned with the total amount being Rs 2,01,12,000. As many as 424 applications were received between 2016-17 for which a total of Rs 5,56,21,567 was sanctioned. The following year, 50 applications out of 177 were sanctioned with the loan amount being Rs 1,85,90,982. In 2018-19, only 42 applications were accepted out of 139 with the total loan amount adding up to Rs 1,78,39,600. Eighteen out of 146 applications were sanctioned in 2019-20 while only four applications out of 106 were accepted in 2020-21. The loan amount sanctioned for 2019-20 and 2020-21 were Rs 73,38,950 and Rs 18,01,200 respectively.
