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In this video we will discuss about National Institute of Fashion Technology NIFT , Education Loan and other financial assistance schemes for students .
The National Institute of Fashion Technology has its branches all over India for young aspirants who wish to take up fashion studies as their career. This college is established under the Ministry of Textiles, Government of India nineteen eighty six thus making it one of the most sought after college for the national and international fashion business. One of the mandatory requirements to obtain loan for NIFT is confirmed admission letter from the college. Some of the common points to keep in mind while taking an Education loan for NIFT .
The NIFT Education loan includes the tuition expenses as well as the cost of books, library fees and other necessary requirements.
While no upper limit is decided for the loan amount, banks generally grant loans that are in accordance with the Educational costs of the institute.
The processing fees for NIFT Education loan ranges from 0.5-2 % depending on the bank from which the loan is taken.
Moratorium period for the loan is one year after the completion of the course.
The repayment period extends to a maximum of 15 years from the start of the repayment period.
Some of the available lenders for providing loans to NIFT-
PNB, SBI, Axis Bank, and HDFC .
“SARTHAK” NIFT FINANCIAL ASSISTANCE SCHEME
This FINANCIAL ASSISTANCE SCHEME is to provide financial assistance to meritorious, needy and deserving students, belonging to the economically weaker sections of society.
Applicability of the Scheme “SARTHAK” NIFT Financial Assistance Scheme" will be applicable to all the regular students of NIFT fulfilling prescribed criteria.
The benefits of this Scheme shall not extend to NRI students.
Under this Scheme financial Assistance to undergraduate students shall be provided as follows:
Parental Income per annum Upto Rupees 1.5 Lakhs 100% of the Tuition Fee will be refunded.
Parental Income Above Rupees 1.5 Lakhs upto Rupees 2.5 Lakhs per annum 75% of the Tuition Fee will be refunded.
Parental Income Above Rupees 2.5 Lakhs upto Rupees 4.0 Lakhs per annum 50% of the Tuition Fee will be refunded.
Under this Scheme financial Assistance shall be provided to postgraduate students at the Campus as follows :
Parental Income Rupees 1.5 Lakhs per annum 75% of the Tuition Fee will be refunded.
Above Rupees 1.5 lakh upto Rupees 2.5 Lakhs per annum 50% of the Tuition Fee will be refunded.
Above Rupees 2.5 lakh upto Rs. 4 Lakhs per annum 25% of the Tuition Fee will be refunded.
Eligibility Criteria for application
Undergraduate and Postgraduate students of the regular programme of NIFT excluding those admitted under NRI category.
NIFT SCHOLARSHIP SCHEME FOR FOREIGN STUDIES
Eligibility Criteria for application
Undergraduate and Postgraduate students of the regular programme of NIFT excluding those admitted under NRI/ NRI sponsored category. Undergraduate students from semester 4 to semester 7 and postgraduate students reading in semester 2 and semester 3 would be eligible.
European Institutes 5000 US$ per semester
American Institutes 4000 US$ per semester
Oceanic & Australian Institutes 3750 US$ per semester
Asian Institutes 3000 US$ per semester
Middle Eastern Institutes (Israel) 3000 US$ per semester.
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