(i)The financial position of every applicant for loan shall be ascertained to the satisfaction of the State Government by reference to District Officers or such other authorities. In granting loans the financial position of the parents of the applicants shall be taken into consideration and loan shall be granted only to such persons who are unable to meet the expenses of their education.(ii)For training in India only half the usual stipend shall be given to candidate whose parent's or guardian's monthly income is more than 1,000 per month and that no loan stipend shall be given in cases where the income exceeds Rs. 1,500 per month.(iii)The amount of loan stipend payable to various categories of students prosecuting studies in and outside the State shall be as decided by Government from time to time.
