Maulana Azad Education Finance Foundation Scheme

The scheme “Maulana Azad Education Finance Foundation Scheme” was launched by the Minority Welfare Department, Government of Uttarakhand. The scheme aims to provide interest-free loans to students from minority communities for pursuing higher education in India and abroad.

Under this scheme, students from minority communities are provided interest-free loans of up to ₹5 lakh for pursuing higher education in India and abroad.

1. The applicant must be a permanent resident of Uttarakhand.
2. The applicant must belong to a minority community (Muslim, Sikh, Christian, Parsi, Buddhist, or Jain).
3. The age of the applicant should be between 18 and 35 years.
4. The applicant must have passed Class 12.
5. The applicant must be studying in or have taken admission to a university/college/institute recognized by the Central Government, State Government, or any other competent authority.
6. The annual family income of the applicant from all sources should not exceed ₹2,50,000/-.
7. The beneficiary availing the loan must repay it within 3 years after the completion of education or upon gaining employment, whichever is earlier.

Offline

• The application form is obtained from the district office and must be submitted to the same office by August 31. The application process is currently offline.
• Along with the application form, the applicant is required to submit a recent passport-size color photograph, Aadhaar card, permanent residence certificate, minority certificate, birth certificate, previous year’s mark sheet, admission certificate from the college or institute, fee structure, college identity card, passbook of a nationalized bank, and an affidavit declaring that the loan scheme is being availed for the first time. In addition, the guarantor’s documents, such as salary or income certificate, PAN card, recent photograph, Aadhaar card, ration card, and status certificate report, must also be attached.
• After submission, the district office forwards the applications to the corporation headquarters by September 15. These applications are then presented before the selection committee constituted by the Government of Uttarakhand. Once approved by the loan selection committee, the sanctioned loan amount is transferred to the account of the concerned district in accordance with the applicant’s requirement. The district office then disburses the amount directly into the applicant’s bank account.
• Proposals are approved only within the budget limit available for the financial year, and any applications that exceed this limit are treated as automatically cancelled.