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The Scholarships for Higher Education for Young Achievers Scheme-SHREYAS is a transformative initiative set to unfold from 2021-22 to 2025-26, designed to uplift students from Other Backward Classes (OBCs) and Economically Backward Classes (EBCs) through educational empowerment. This initiative combines two existing Central Sector programs: the National Fellowship for OBC and the Dr. Ambedkar Central Sector Scheme, providing interest subsidies on educational loans for overseas studies.
Component 1: National Fellowship for OBC students
The primary objective of this component is to provide financial assistance to OBC students pursuing quality higher education, specifically M.Phil and Ph.D. degrees. The program grants 1000 Junior Research Fellowships each year to individuals who have successfully cleared 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).
Salient Features:
- Implementation by the National Backward Classes Finance and Development Corporation.
- Increased fellowship rates, now set at Rs. 37000/- per month for JRF level and Rs. 42000/- per month for SRF level.
- Reservation of seats for students with disabilities, ensuring inclusivity.
- Rs. 50.90 crore released during 2023-24 (as of 04.01.2023).
Component 2: Dr. Ambedkar Overseas Education Loan Scheme: Subsidized Interest for Global Studies
This central sector scheme provides interest subsidies to OBC and EBC students for education loans during the moratorium period for pursuing approved courses abroad at the Master’s, M.Phil, and Ph.D. levels.
Salient Features:
- Implemented through Canara Bank, the Nodal bank for the scheme.
- Applicable for higher studies abroad, linked with the existing Educational Loan Scheme of the Indian Banks Association.
- Income criteria for OBC and EBC candidates to ensure financial need.
- 50% reservation for women candidates.
- Rs. 24.11 crore released during 2023-24 (as of 04.01.2023).
The Scholarships for Higher Education for Young Achievers Scheme-SHREYAS embodies the government’s commitment to fostering inclusive and quality higher education, providing a pathway for aspiring students to achieve their academic and career aspirations on a global scale.
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