New Delhi: The National Handicapped Finance and Development Corporation (NHFDC) is now providing education loans to handicapped students at concessional rates for pursuing higher studies in both India and abroad, provided that they fulfill the eligibility criteria.

The maximum loan amount provided for education in India is Rs.7.50 lakhs and for abroad, Rs.15 lakhs.

The interest rates for loans upto Rs. 50,000 is 5%, from Rs. 50,000 to Rs. 5 lakh is 6% and above Rs. 5 lakh is 8%. A rebate of 1% is also being given to women beneficiaries.

14 Handicapped students have already availed education loans from NHFDC from 2007-2008 to 2009-10. NHFDC functions as an apex corporation and channelizes its funds through State Channelizing Agencies (SCAs) for the welfare of Persons with Disabilities (PWDs).

The proposal for education loans above Rs.1.50 lakhs received from SCAs are sanctioned at NHFDC level and the proposals upto Rs.1.50 lakhs are sanctioned by the SCA under delegated authority.

This information was given by D. Napoleon, the Minister of State for Social Justice & Empowerment, in a written reply to a question in the Lok Sabha today.