Goa Chief Minister Pramod Sawant announced the expansion of education loans at a 4% interest rate for students from OBC, EWS, minority communities, and persons with disabilities, aiming to enhance social mobility and educational access.
Goa Chief Minister Pramod Sawant has announced that education loans for students from Other Backward Communities, economically weaker sections, minority communities and persons with disabilities will carry an interest rate of 4% from August 11, subject to the prescribed family income cap. He also said students from Goa who are studying outside the state should contact the relevant commissions to access the scheme.
The announcement came at a public event linked to the Mukhyamantri Bahujan Utkarsha Yojana, a welfare programme aimed at supporting Scheduled Castes and Other Backward Classes. Sawant said the initiative is part of a wider push for education, financial independence and social mobility, with Social Welfare Minister Subhash Phaldesai, Water Resource Minister Subhash Shirodkar and Dayanand Mandrekar, chairman of the Goa State SC and OBC Finance and Development Corporation, in attendance.
Under the scheme, eligible beneficiaries can borrow up to Rs 25 lakh for higher education. That ceiling sits above the loan limits set out in the corporation’s earlier educational loan framework for SC and OBC students, which offered up to Rs 20 lakh for studies in India and Rs 30 lakh for courses abroad at 4% annual interest, with a lower rate for women borrowers.
Sawant also handed over Gruha Sudhar assistance orders and loan closure and no-dues certificates to beneficiaries. He said small borrowings should not become a permanent burden and added that the latest distribution meant 492 beneficiaries have now received closure or no-dues certificates under the scheme, freeing many families from old liabilities.
The chief minister framed the move as part of the state’s broader Antyodaya approach, which seeks to direct welfare to the most disadvantaged households. Goa has also recently moved to waive accumulated interest on long-pending loans for SC and OBC beneficiaries, underscoring a renewed focus on clearing legacy debt while expanding access to education finance.
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