With an aim to empower Banaras Hindu University’s (BHU) students, especially those who face financial hardships, the BHU has come up with a new initiative called, ‘Financial Assistance Loan Scheme.’
Under the scheme, the university will extend financial help to the tune of Rs 12,000 per year to its students to continue and complete their education at BHU. Students, who belong to families with income or those below the poverty line (holders of BPL card) or students who have lost earning parent(s) due to COVID 19 or any other cause, will be covered under the scheme, claim the university. To avail of the scheme, the applicants must have the recommendation of two faculty members of the university.
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Vice-chancellor, Prof. Sudhir K Jain has reiterated that BHU belongs to its students, and the university administration will take all possible measures to support and facilitate needy students in continuing their education. The Financial Assistance Loan Scheme is a step in line with this commitment.
The financial assistance under the Scheme will be extended in the form of interest-free loan, which will have to be repaid by the respective beneficiary students in installments once they start earning after completing their studies in BHU, added the university.
In the first instance, around 1000 eligible students will be provided financial assistance, for which over 200 applications have been received. The university informed that 103 applications have already been approved under the scheme. Prof. K. K. Singh, Dean of Students, BHU, said that the university will soon start a fresh round to enable more students to send in their applications.
Applications of those students, who are availing financial assistance from any other agency, may be considered only up to the extent that the total does not exceed Rs. 12,000.
Applicants must note that the financial assistance will not be linked with the payment of any kind of fee to beneficiary students. Additionally, the repayment of the loan will start when the students start earning after completion of their study in BHU.
“Once the beneficiary students start earning, they shall be asked to repay the loan in installments over a period of two year. Neither the parents nor the faculty members, who have recommended the students for the said scheme, will be liable for the repayment of loan,” infirmed the university.
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