Bhaktapur Municipality's Education Loan Program: Impact and Success

Bhaktapur Municipality's initiative of providing education loans against academic certificates has been gaining effectiveness over time.

The municipality has been running this program for the past five years, targeting students deprived of education due to financial constraints. The initiative aims to ensure that no student in the municipality is deprived of higher education due to a lack of funds.

Program Achievements

• Total Beneficiaries: 751 students have benefited from the education loan program.

• Loan Limit: Up to NPR 5 lakh is provided to students for higher education.

• Active Borrowers: Currently, 454 students are pursuing their studies with loans from the municipality.

• Loan Repayments: 51 students have already repaid their loans.

• Investment: The municipality has invested NPR 13.69 crore in education loans, of which NPR 1.64 crore (principal and interest) has been repaid.

Purpose and Impact

According to Bhaktapur Municipality Mayor Sunil Prajapati, the program has significantly increased the number of students pursuing higher education. Initiated through the fourth municipal assembly in 2075, the program operates under a dedicated guideline for providing loans to deserving students.

Eligibility Criteria for Education Loans

1. Residence: Permanent residents of Bhaktapur Municipality.

2. Student Profile: Meritorious and financially underprivileged students.

3. Academic Requirements:

   • The Government of Nepal must approve or recognize the subject, faculty, and educational institution.

   • Loans are only granted for education above the SEE level.

4. Repayment Terms:

   • Students are not required to repay the loan during their studies.

   • Repayment begins gradually after completing their education, as per the collateral terms.

Additional Support: Scholarships

In addition to education loans, Bhaktapur Municipality provides scholarships worth over NPR 4 crore annually to students studying in seven higher education institutions, including two municipal engineering colleges.

Bhaktapur Municipality's education loan program has become a beacon of hope for many students, ensuring access to higher education and contributing to the community's overall educational development.

For more details, visit Bhaktapur Municipality's official website.