Odisha Kalinga Sikshya Sathi Yojana (KSSY)
ओडिशा कलिंग शिक्षा साथी योजना (केएसएसवाई)
Odisha state interest subsidy scheme bringing the effective interest on higher education loans up to ₹10 Lakh down to just 1% per annum.
Max Loan Amount
Up to ₹10 Lakh at 1.00% Effective Interest Rate
Interest Rate
1.00% p.a. effective interest (Remaining interest subvention paid by Govt of Odisha)
Moratorium Period
Course duration + 1 year
Repayment Tenure
Up to 15 years
✦ What the Loan Covers (Eligible Expenses)
Tuition, hostel, books, laptop, uniform, examination, and living expenses for professional courses (Engineering, Medical, Law, Management).
What is Missing: Honest MITC Policy Gaps, Hidden Clauses & Costs
Eligo disclosure: Bank loan brochures and DSA agents rarely highlight these conditions. Verify before signing your loan agreement.
Parental income ceiling is ₹6.00 Lakh; applies only to professional courses (medical, engineering, law, management); student must first secure a sanctioned education loan from a commercial bank before applying for the KSSY subvention on the Odisha State Scholarship portal.
✦ Collateral & Margin Money Terms
Collateral & Guarantee Requirement:
Nil up to ₹7.5 Lakh under IBA model scheme; Collateral as per bank policy above ₹7.5 Lakh.
Margin Money (Borrower Contribution):
Nil up to ₹4 Lakh; 5% above ₹4 Lakh.
✦ Eligibility Requirements
Permanent resident of Odisha with parental annual income from all sources not exceeding ₹6.00 Lakh, admitted to higher professional/technical education.
✦ Government Subsidies & Rate Concessions
Government of Odisha pays the entire interest burden above 1% per annum directly to scheduled commercial banks.
✦ Required Documents Checklist
Resident certificate of Odisha, income certificate (<₹6L), loan sanction letter and bank loan account passbook, admission proof, marksheets.
✦ How to Apply Step-by-Step
1. Obtain education loan from any scheduled commercial bank in Odisha.
2. Register on Odisha State Scholarship Portal (scholarship.odisha.gov.in).
3. Submit KSSY interest subvention application with loan account number.
4. Higher Education Department verifies and transfers monthly/quarterly interest subsidy directly to loan account.Official Portal
Official Portal / Lender Domain
Apply or verify directly on the official banking portal
✦ Frequently Asked Questions
How does KSSY reduce my education loan interest?▼
The commercial bank charges its standard lending rate (say 9.5%), but the student is only required to pay 1.00%. The remaining 8.50% interest is directly deposited by the Government of Odisha into the loan account.
What is the family income limit for Odisha KSSY?▼
Gross annual family income from all sources must not exceed ₹6.00 Lakh.
Can I apply for KSSY before getting a loan from a bank?▼
No. You must first secure an education loan from a scheduled commercial bank, and then apply on the Odisha portal to link KSSY interest subvention.