Panaji: Nine hundred students pursuing higher education and technical education have approached the Goa Education Development Corporation (GEDC) to avail a one-time settlement (OTS) under the interest-free education loan (IFEL).The OTS scheme was rolled out on Feb 1 this year and will remain in force till the end of this month. Under it, relief to IFEL defaulters will be given through the waiver of penal interest.GEDC chairperson Govind Parvatkar said the corporation has received around 900 applications so far, of which 126 cases have been processed. Penal interest of Rs 1 crore has been waived for these 126 cases, and Rs 98,000 has been recovered under the OTS scheme.To raise awareness, GEDC advertised in newspapers, held press conferences, and contacted defaulters through letters, emails, and phone calls. However, many defaulters are yet to apply. Parvatkar said the concessional OTS scheme is in its final phase and will close on July 31.Students can visit gedc.goa.gov.in for details on the OTS scheme.After the deadline, defaulters will have to pay the outstanding principal along with penal interest, failing which further recovery action will be initiated as per IFEL norms.Parvatkar urged students to contact the recovery team immediately on 0832-2411194 or 2413335, email office-gedc.goa@nic.in, or visit the GEDC office on the ground floor of the new GSCERT building at Porvorim.
