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2. Model Education Loan Scheme for Loans under Management Quota (Non-IBA Scheme) Under the IBA Model Education Loan Scheme, the 'Eligibility Criteria' of a student was described as "those who have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/Merit Based Selection process after completion of HSC (10 plus 2 or equivalent) and there is no minimum marks prescribed for eligibility". It is also stated that the entrance test conducted by Government/Approved Regulatory Bodies or Universities approved by UGC/AICTE have to be reckoned for this purpose. Under clause 'B' Loan Scheme, loans under Management Quota was prescribed and the eligibility for admission is described as "a minimum of 50% mark both for W.P.(C) Nos.17271, 17272, 17313 & 20420 of 2015 the qualifying examinations and qualifying subjects individually (viz. Physics, Chemistry and Mathematics for Engineering and Physics, Chemistry and Biology for Medical/Nursing) will be stipulated for granting Education Loan under Management Quota".
W.P.(C) Nos.17271, 17272, 17313 & 20420 of 2015 "2. ELIGIBILITY CRITERIA 2.1 Student eligibility * Should be an Indian National * Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/Merit Based Selection process after completion of HSC (10 plus 2 or equivalent). It would be in order for banks to consider a meritorious student (who qualifies for a seat under merit quota) eligible for loan under this scheme even if the student chooses to pursue a course under Management Quota seat in an institution for reasons of convenience (proximity) or choice of course.
"1) Revised Model Scheme on Educational Loans for Higher Studies in India and Abroad(2011).-
(d) Should have secured admission to a higher education course in recognised institutions in India or Abroad through Entrance Test/Merit Based Selection process after completion of HSC(10 plus 2 or equivalent).
(e) In case where admission is not through common entrance test and the marks secured in the W.P.(C) Nos.17271, 17272, 17313 & 20420 of 2015 qualifying examination is the only criteria adopted, the minimum cut off marks should be 65% in aggregate in the qualifying academic examination."