Aadhaar must for EWS students to avail education loan interest subsidy by March 31

The economically weaker section (EWS) students enrolled to technical and professional programmes, will have to apply for Aadhaar by March 31 to avail benefits of a central sector scheme which provides full interest subsidy during moratorium period on education loans granted without any collateral security and third-party guarantee for a maximum amount of Rs 7.5 lakh.

The deadline for Aadhaar enrollment has been set by the Human Resource Development (HRD) ministry in pursuance of the provisions of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016.

“A beneficiary eligible for receiving the benefits under the scheme shall be required to furnish proof of possession of Aadhaar number or undergo Aadhaar authentication,” the ministry, which is the nodal agency for implementation of the central sector interest subsidy scheme, stated in a recent gazette notification.

To provide convenient and hassle-free benefits to the beneficiaries under the Scheme, the Ministry is in process of making "all the required arrangements" to ensure that the eligible students get enrolled to Aadhaar in case of those who have still not done so.

“In case, the beneficiaries under the scheme are not able to enrol for Aadhaar due to non-availability of enrollment centres in the vicinity such as the block or taluka or tehsil, the Ministry through its implementing agencies shall provide Aadhaar enrollment facilities at convenient locations,” the ministry stated in its gazette notification.

In case, the beneficiaries under the scheme have enrolled for Aadhaar, but are not able to produce Aadhaar number for any reason whatsoever, the Ministry through its implementing agencies will provide “Search My Aadhaar” facility through UIDAI’s enrollment and update client by facilitating Aadhaar enrollment facilities at convenient locations.

Till the time Aadhaar is assigned to a beneficiary, benefits under the scheme will be accorded to him/her subject to the production of some documents which include Aadhaar Enrollment ID slip or a copy of his/her request made for Aadhaar enrollment, as well as the bank/post office passbook with photo, or Voter ID Card, or Permanent Account Number (PAN).

Production of Passport/a valid driving license/ ration card/certificate of identity having photo of the person issued by a gazetted officer, or a tehsildar on an official letterhead along with the Aadhaar Enrollment ID slip or a copy of the request made for Aadhaar enrollment will also be accepted for according benefits under the interest subsidy scheme.

Students whose annual gross parental or family income is up to Rs 4.5 lakh are eligible to avail the benefits of the scheme. Interest subsidy under the scheme is admissible only once either for undergraduate or post graduate or integrated course.