The Government of Karnataka has introduced a dedicated support scheme titled “Financial Assistance to the Teachers’/Lecturers’ Children Who Have Taken Loans from Nationalised Banks for Studying Medical/Engineering Courses.” This initiative aims to alleviate the financial burden on families of government and aided school/college teachers by providing one-time aid for interest repayment on education loans for professional courses in medicine and engineering, including postgraduate programs.
Highlights of Karnataka Education Loan for Teachers’ Children
• Scheme Name: Financial Assistance for Teachers’ Children with Education Loans
• State: Karnataka
• Target Group: Children of teachers/lecturers in government or aided institutions
• Eligible Courses: Medical, Engineering (UG & PG)
• Assistance Type: One-time interest reimbursement
• Max Assistance: ₹50,000
• Mode of Application: Offline submission only
• Applicable Loans: From nationalized banks, for courses within India
Key Benefits
• One-time financial support up to ₹50,000/-
• Amount covers only the interest portion of an education loan
• Funds are transferred directly to the borrower’s bank account
Eligibility Criteria
• Parent must be a serving teacher/lecturer in a government or aided school/college
• Must be a life member of the Karnataka State Teachers’ Welfare Fund
• Student must have studied from 1st to 10th standard in a government or aided school in Karnataka
• Educational loan must be taken from a nationalized bank for medicine/engineering courses
• Loan must be for professional education within India only
• The student should clear every academic year or semester in the first attempt
• Only final-year students are eligible (UG/PG in medical/engineering)
• Only one child per family can avail of the scheme
Exclusions
• Retired teachers’ children are not eligible
• Students who have not studied in government/aided schools (1st–10th std.) are excluded
• Courses other than medicine or engineering are not covered
Application Process
Mode: Offline
Steps to Apply:
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Download the application form from the official Karnataka Teachers’ Welfare Fund portal
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Fill out the details of both the student and the teacher correctly
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Attach the required documents, including mark sheets, bank loan details, and proof of schooling
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Get the proposal recommended by both the controlling officer and the head of the institution
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Submit the completed application to the Karnataka State Teachers’ Welfare Fund office
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Collect a receipt or acknowledgment with submission date and tracking details
Essential Documents
• Mark sheets (certified copies of all semesters/years)
• Loan sanction letter and account number (from a nationalized bank)
• Fee payment receipts
• Life Membership (LMS) card attested by the head of the institution
• Proof of school attendance (1st–10th std.) certified by school and Taluk Education Officer
• HRMS copy or approval order (for aided school teachers)
• Attested copy of student’s bank passbook
• Loan interest payment details
FAQs
Q: Who can apply under this scheme?
Only serving teachers/lecturers from government/aided institutions with life membership in the Welfare Fund.
Q: What is the maximum assistance offered?
₹50,000 is provided as a one-time financial aid toward interest repayment.
Q: Does it cover postgraduate studies?
Yes, for medical and engineering postgraduate programs.
Q: Are retired teachers’ children eligible?
No, only serving teachers’ children are eligible.
Q: How many students from one family can apply?
Only one child per family is eligible for assistance.
Q: Is the assistance repayable?
No, this is a non-repayable one-time grant.
Q: Can students studying outside Karnataka apply?
Yes, as long as the course is within India and other conditions are met.
Q: What type of loan is accepted under this scheme?
Only loans from nationalized banks are eligible.
Q: Is there an income limit?
No specific income limit is mentioned, but academic and institutional criteria apply.
Q: Can I apply if the loan interest is already paid?
If the loan interest was paid recently and documentation is available, assistance may still be applicable.
Q: What if both parents are teachers?
Even if both are teachers, only one child can receive the benefit.
Sources and References
Official Guidelines – Karnataka Teachers’ Welfare Fund
Contact – Karnataka State Teachers’ Welfare Fund Office
