Education Loan Scheme for students studying at CIIT

CIStems Education Trust (CET) offers low interest merit cum means educational loans to a limited number of students for studying at CIIT. The objective of the loans is to enable meritorious students, who have financial limitations, to pursue academic programs at CIIT.

The features of the loan scheme are as follows.

1. The loans are currently available for the IMPITA and MPITA courses only.
2. The students satisfying the following criteria will be eligible to apply for the educational loan.
   1. The student must get selected for admission, into the IMPITA or MPITA program at CIIT, through proper admission process.
   2. The per capita income of the family should be less than Rs. 4000 per month. (The per capita income of the family is the total income of the family divided by the total number of persons in the family.)
3. The CET Education Loan Committee would screen the loan applications received and would select the students based on both the academic and the financial background of the student.
4. The loan would range from 25% to 75% of the CIIT tuition fee for the course.
5. The loan will be disbursed on a monthly basis and will be paid directly to CIIT as part of tuition fee.
6. The loan would bear compound interest at the rate of 6% per annum on the outstanding balance.
7. The repayment of the loan will start from the day the student finds employment or 6 months after completing the course, whichever is earlier.
8. The repayment will be done in equal monthly installments spread over the same number of months, as is the standard duration of the course.
9. The parents or guardians of the student will provide personal guarantee against the loan.
10. A student will have to maintain good academic performance during the academic program to remain eligible for the loan. In case the Cumulative Grade Point Average (CGPA) of a student falls below 6.0 on a 10.0 scale, then the student will be issued a warning. If the CGPA continues to be below 6.0 for two consecutive semesters then the loan will be discontinued for the remaining semesters.
11. Philanthropic organizations and individuals may actually sponsor the loans provided by CET. These organizations and individuals may place additional conditions on the loans sponsored by them.
12. The loans are not only a means to finance the education but also an honor and a responsibility, as they are available to only a limited number of students.
13. The candidate has to submit application in the prescribed format.