Education loan launched for economically disadvantaged students

The Student Loan Scheme for tertiary education made possible under the Economic Stimulus Plan will provide students with the funds to continue their education.

According to the Prime Minister, pursuing higher education should not be a luxury for the privileged only, but for all the Bhutanese students.

The Student Loan Scheme for Tertiary Education online was launched by the Cabinet Secretary, Kinzang Wangdi, yesterday.

Lyonchhen Tshering Tobgay said that the government has instituted the student loan scheme for tertiary education to provide an opportunity to students from disadvantaged background to self-fund their tertiary education.

Further, Lyonchhen added that the online system is sensitive to the realities of such students living in the far flung corners of the country. Lyonchhen added, “It enables them to avail the opportunity without having to come to Thimphu as it is available from any access point with internet connection.”

The initial loan period for 2014-2017 is solely for pursuing a degree program by class XII passed students in Bhutan 90% and in India 10%.

Meanwhile, those students applying for the education loan should fulfill the certain criteria set by the Department of Adult and Higher Education (DAHE).

The government scholarship holders, either partial or full, are not eligible for the loan. Students should have secured a minimum of 50% aggregate in class XII, irrespective of the mode of study that they may have pursued.

Students that chose to study in Bhutan can get a full tuition fee cost and living allowance of Nu 1,500. The students that opt to study in India are entitled to Nu 300,000 per annum, which covers the admission fees, registration fees, examination fees, library fees and laboratory fees.

Students are expected to repay the student loan two years after they graduate, and they have the liberty of 15 years to liquidate the loan.

However, those students who may chose to discontinue their studies in between are required to disburse the amount in lump sum within two years from the day they discontinue their studies.

The online applications start from April 30 to May 20. DAHE will select 110 under the loan scheme.