The SHREYAS scheme, Scholarships for Higher Education for Young Achievers Scheme, is slated for implementation from 2021-22 to 2025-26. This initiative involves the integration of two existing Central Sector schemes designed for OBC and other communities: (i) National Fellowship for OBC and (ii) Dr. Ambedkar Central Sector Scheme of Interest Subsidy on Educational Loans for Overseas Studies for Other Backward Classes (OBCs) and Economically Backward Classes (EBCs).
Component 1. National Fellowship for OBC students
The primary aim of these schemes is to empower OBC & EBC students through educational means, providing fellowship (financial assistance) for pursuing quality higher education and interest subsidy on educational loans for overseas studies.
- Funding for Quality Higher Education: The scheme is dedicated to providing financial assistance to OBC students pursuing advanced degrees such as M.Phil and Ph.D. in universities, research institutions, and scientific establishments.
- Junior Research Fellowships (JRF): With an annual target of 1000 Junior Research Fellowships, the initiative aims to support individuals engaged in advanced studies and research leading to M.Phil./Ph.D. degrees.
- Qualification Criteria: The scheme targets candidates who have qualified in either the National Eligibility Test – Junior Research Fellowship (NET-JRF) of UGC (for Humanities/Social Sciences) or the UGC-Council of Scientific and Industrial Research (UGC-CSIR) NET-JRF Joint Test (for Sciences).
- Inclusive Coverage: Encompassing all universities and institutions recognized by the University Grants Commission (UGC), the scheme follows the established pattern of UGC Fellowships awarded to research students pursuing M.Phil. and Ph.D.
- Implementation by UGC: The scheme is implemented by the University Grants Commission (UGC), ensuring standardized and effective execution across various educational institutions.
Salient features of the Scheme:
The scheme is currently executed by the Ministry through the assigned Central Nodal Agency, namely the National Backward Classes Finance and Development Corporation, a Government of India Undertaking under the administrative control of the Ministry of Social Justice & Empowerment. It encompasses all universities and institutions duly recognized by the University Grants Commission (UGC).
Eligibility conditions are as per notification for UGC-NET and CSIR-UGC-NET examinations. The rate of fellowship for JRF level is Rs.31000 per month and for SRF level it is Rs.35000 per month, besides contingencies amount. Out of 1000 slots available under this scheme, 750 will be allocated for the subjects under National Eligibility Test – Junior Research Fellowship (NET-JRF) of UGC and remaining 250 UGC-Council of Scientific and Industrial Research (UGC-CSIR) NETJRF joint test (for Science streams). These 1000 slots will be over and above the OBC Students selected under the normal reservation policy of the Government. At least 5% of the total seats should be reserved for students with disabilities while making selection of candidates for award of fellowships by the UGC.
Achievements: Rs.40.11 crore has been released during 2023-24 (pto 3rd Quarter)
Component 2: Dr. Ambedkar Scheme of Interest Subsidy on Educational Loans for Overseas Studies for Other Backward Classes (OBCs) & Economically Backward Classes (EBCs)
This initiative is a Central Sector Scheme designed to offer interest subsidy to students from the OBCs and EBCs. The subsidy applies to the interest payable during the moratorium period for education loans intended for overseas studies. The support is extended to individuals pursuing approved courses at the Masters, M.Phil., and Ph.D. levels abroad.
Salient features of the Scheme:
- The scheme is implemented through the Canara Bank (the Nodal bank for the scheme). The Scheme is applicable for higher studies abroad. The interest Subsidy shall be linked with the existing Educational Loan Scheme of Indian Banks Association (IBA) and restricted to students enrolled for course at Masters, M.Phil and Ph.D level.
- The students should have secured admission in the approved courses at Masters, M.Phil or Ph.D levels abroad for the courses listed in the guidelines. For OBC candidates, total income from all sources of the employed candidate or his/her parents/guardians in case of unemployed candidate shall not exceed present Creamy Layer criteria.
- For EBC candidates, total income from all sources of the employed candidate or his/her parents/guardians in case of unemployed candidate shall not exceed Rs.5.00 lakh per annum , 50% of the total financial assistance is reserved for women candidates.
- Under the scheme, 100% interest payable by the students availing the education loans of the IBA for the period of moratorium (i.e. course period, plus one year or six months after getting job, whichever is earlier) as prescribed under the Education Loan Scheme of the IBA, shall be borne by the Government of India.
After the period of moratorium is over, the interest on the outstanding loan amount shall be paid by the student, in accordance with the existing Educational Loan Scheme as may be amended from time to time. The candidate will bear the Principal installments and interest beyond moratorium period. Maximum limit of loan is Rs 20 Lakhs.
