Home  »  Income Tax  »  Govt. may provide Interest subsidy on education loan to student from weaker section for moratorium period

Govt. may provide Interest subsidy on education loan to student from weaker section for moratorium period

Ministry of Human Resource Development has proposed to introduce a scheme for full interest subsidy during the period of moratorium on loans taken by students belonging to economically weaker sections from the banks under the Education Loan Scheme of the Indian Banks’ Association (IBA) for pursuing any of the approved courses of studies in technical and professional streams from recognised institutions in India.
The scheme will be circulated to banks for implementation after the modalities of the schemes are finalized by the Ministry of Human Resource Development.

This information was given by Minister of State for Finance, Shri Namo Narain Meena in written reply to a question raised in Rajya Sabha today.

Related posts:

  1. Finance ministry agreed on One-year term loan repayment moratorium for textile units
  2. Calculators For Wealth Tax, Home Loan Interest And Home Loan Interest Benefit, Ratio, IRR, MIRR, Financial, EMI, PT, ESIC, PF, World Time & Others
  3. Banks not liable to pay interest on export subsidy: SC
  4. Educational loans provided by the banks are meant only for poor and meritorious student: Madras HC
  5. Loan “waiver” does not fall into either of the three terms “subsidy”, “grant” and “reimbursement”

Tags: ,

65 Comments on “Govt. may provide Interest subsidy on education loan to student from weaker section for moratorium period”

  • Ashok Aggarwal wrote on 2 December, 2009, 5:01

    Wah!

    Financial institutions never finances education loans unless the parents of applicants satisfy the bank that they are resourseful to repay the loan and meet the expenses of their children then how the applicant will qualify for interest subsidy to weaker section ?
  • vikas wrote on 3 December, 2009, 12:26

    i would like to know about the subsidy provided in education sector .
  • gurusamy c wrote on 13 May, 2010, 9:40

    i m taking education loan from 2007-2008 batch. i taking to benefit interest subsidy scheme
  • nandan singh wrote on 11 July, 2010, 19:08

    actually i have taken loan from sbi bank from 2008-09 batch.please tell me i am under this scheme or not
  • rijas wrote on 18 July, 2010, 10:36

    i am taking education loan from sbi during 2007-2011 batch(b.tech).please tell me how can i get the interest subsidy.
  • Siraj Dudekula wrote on 28 September, 2010, 15:07

    I approached for SBI educational loan with my fathers income backup and also a property as a secondary security.My parents annual income from all resources is less than 4.50 lacs and I pass the criteria for eligibility but the branch manager rejected this provision of interest subsidy for no reason.

    Even i want to raise a point SBI is not jus a member but one of the Managing Committee members of INDIAN BANKS ASOCIATION, MUMBAI which noticed every bank for this to be implemented after this is finalized by Ministry of HRD,Govt. of India.

    Adding, the present chairman of SBI Mr. O.P.Bhatt is himself the chairman of the IBA.

    As a borrower of loan and a customer who am urging for a loan how can I proceed in moving this to higher authorities?Where is the practical implementation of this provision is my voice?
  • elaya raja wrote on 12 October, 2010, 17:04

    i have taken loan for t session 2007-2009 for my pg in Biotechnology…plz tell, am i available this scheme?
  • balaji wrote on 24 October, 2010, 16:08

    I hav taken in the year 2008-09. Should i pay the interest or not? plese help me out sir.
  • pankaj wrote on 9 December, 2010, 14:01

    i have take 4 lac education loan from SBI bank,for the period of 2008-10 of my AICTE APPROVED COURSE, PLEASE TELL ME THAT I WILL COME UNDER THIS CATEGORY,
  • yogesh wrote on 10 December, 2010, 13:37

    i am taking education loan from sbi during 2007-2011 batch(b.tech).please tell me how can i get the interest subsidy.
  • mithun wrote on 16 December, 2010, 16:47

    I have taken loan from SBI for my mba batch of 2009 – 11. Due to my weaker financial condition i was not able to pay the monthly interest. So please tell me once my course finishes whther i have to pay the bank interest along with the principal amount or only i have to pay the principal amount.
  • govindarajan wrote on 18 December, 2010, 17:31

    Why there is partiality in giving subsidy (interest) in education loan only to Indian Universities. Education loan is common.So make eligible to foreign studies also.
  • pravin kale wrote on 21 December, 2010, 9:24

    i have taken loan for session 2005-2006 for my graduation in engineering…plz tell, am i available this scheme?
  • Mnaoj wrote on 22 December, 2010, 15:42

    Dear Sir,

    I had taken a loan on 2007-09 from SBI.
    Weather i am available on the scheme
  • VINAY GUNJAN wrote on 22 December, 2010, 21:10

    i was taken education loan in november 2009 . please tell me i am under the scheme or not
  • Meghana.A.K wrote on 23 December, 2010, 7:22

    I was taken loan in the year august 2009.the course opted by me is bachelor of audiology and speech language pathology(BASLP). I would like to know whether i am eligible for the scheme.
  • Nikhil wrote on 1 January, 2011, 9:29

    I have taken my educational loan for B.Tech for the year 2005-06. I belong to economically backward. Is this loan eligible for this scheme
  • Aneesh Sebastian wrote on 7 January, 2011, 18:11

    I took an education loan from 2003 to 2006. My course is completed on 2006. Pls let me know if I am eligible for this scheme
  • Ahmad Ali wrote on 12 January, 2011, 22:01

    i have taken loan from bank of baroda for 2009-11 for mba,and am eligible for taking loan subsidy by govt. of india but the manager of bank of baroda is not providing me education loan subsidy what should i do?
  • Ashish wrote on 18 January, 2011, 13:11

    What is the last date for the claim of the loan??
  • Ashish wrote on 18 January, 2011, 13:26

    what is the last day for claiming the subsidy?
  • pankaj baldi wrote on 4 February, 2011, 10:03

    i am willing to take education loan under education loan scheme.i am belongs to economically backward class and my family income from all the sources is of rs.84000 per annum so plz tell me i am able to take benefit of this scheme plz reply.
  • Kamalesh wrote on 6 February, 2011, 12:07

    I have taken my loan in financial year 2006 & completed my course in july 2009. Wheather i am eligible for the interest subsidy scheme or not,please tell me.
  • Prashant M. Kakade wrote on 9 February, 2011, 13:02

    I have taken loan from SBH for the MBA in period of 2008-09…so plez tell me i am applicable for the subsidy scheme…my total family income is less than 3 lack….i asked to loan section in bank about subsidy but they told me “I don’t have any kind of information about this”….so plez tell me what i do for this…..i need this subsidy scheme
  • dhanawade sagar hanmant wrote on 9 February, 2011, 14:23

    im willing to take education loan.my family annual income is 30,000/- so please tell i am able or not able subsidy on education loan
  • SHEIKH NURANI wrote on 11 February, 2011, 0:56

    i have taken education loan for my b.tech for the moratorium period of 2007-2011.
    i have also deposited all the required documents needed for interest subsidy scheme of SBI.
    also my parents annual income is less than 1.0 lac.
    should i get benefitted by the scheme…
    sir plese guide me
  • srinivas wrote on 5 March, 2011, 16:10

    sir,

    iam v.srinivas i had taken education loan 1,20,000Rs in 2007-09 mba also i have paid intrest upto 40,000rs in sbh

    i would like to know about the subsidy provided in education please tell me iam eligibility or not
  • arun choudhary wrote on 5 March, 2011, 22:34

    i am taking education loan from sbi during 2008-2012 batch(b.tech).please tell me how can i get the interest subsidy
  • siva kumar wrote on 6 March, 2011, 16:37

    i have taken education loan from sbi….but i don’t know…how to take subsidy scheme…..so, please inform me…….how to take subsidy…….
  • sarada wrote on 6 March, 2011, 20:20

    hi iam sarada…i had taken education loan from sbi during 2006 -2010(b-tech)sir can u pls tell me whether iam eligible for subsidy r not ..
  • Zameer A. Khan wrote on 10 March, 2011, 11:20

    Assalam-alaikum dear ahmed ali,:-:-
    for loan subsidy u should have complain in head office of bob or u can also complain to hrd via mail.
    And download a form of loan subsidy to net and go through it.:-
    and submit it in ur concern bank.
  • Bhavesh wrote on 12 March, 2011, 19:16

    Sarada you are very eligible to take the benefit of this plan.
  • neelam wrote on 14 March, 2011, 14:58

    hi i have taken educational loan fromobc in 2008 to 2010 will it only for sbi or it can b other bank or if there is any other provisional to get subsiduary to get plz let me know
  • Dinesh Yadav wrote on 16 March, 2011, 14:57

    i have taken loan from Union Bank Of India for 2008-11 for MCA,and am eligible for taking loan subsidy by govt. of india but the manager of UBI is said that any of information is
    not available regarding loan subsidy .
    Plz help me what should i do?
  • sudersan wrote on 18 March, 2011, 20:40

    i have taken education loan for M Tech from MPEI Moscow (Aboard university). pl intimate whether i eligible for education loan subsidy?
  • sudersan wrote on 18 March, 2011, 20:45

    Is the education load subsidy is application for the students who are studying at aboard universities?
  • prabhat wrote on 19 March, 2011, 8:09

    I have taken loan from PNB for my graduation(B.tech),which started from year 2007-08 financial year and end in year 2010-11. Kindly tell me if I am eligible for subsidy scheme.
  • J.SANGEETH wrote on 20 March, 2011, 20:05

    Dear sir,
    I take loan on(state bank of Hyderabad) education for doing M.B.A for the year of 2007-09 still i am paying loan to bank , i am economically backward caste so i am unable to pay bank loan, i will come under this scheme or not.if i am under this scheme please tell what i have to do further term payment,how is the contact person to meet solve my problem.
    Thanking you

    Your’s Faithfully,
    SANGEETH.J
  • Indrani Biswas wrote on 22 March, 2011, 12:42

    I had taken loan from SBI bank under the scheme 2010-2014. shall i be getting the interst subsidy? what are the necessary steps i need to take if i get the subsidy?
  • bachan wrote on 1 April, 2011, 20:42

    my spouse educational loan taken in 2006 from pnb my annual income below 3lac what can i should apply for subsidy on educational loan happen with me suddenly a letter received my son name from pnb bhikaji camaplace new delhi on 31.3.2011 at 6.30 pm in this letter bank told that you have not submit income proof so you are out of subsidy before this no any information for subsidy in the sight of bank when we get the educational loan all the income proof with photo copy of documents submitted in the case what i can do to day my income below 3lac pleas suggest me how can apply for subsidy.
  • subhendu chandra wrote on 9 April, 2011, 14:49

    I am Pursuing PGDM from MAIIM..I am from West Bengal. I would like to know about the last date submit income proof for getting Education Loan Interest Subsidy.
    please sir/mam, reply me…..
  • Hal Dhar Ojha wrote on 13 April, 2011, 12:05

    Dear sir , my son has taken Rs. 4,00,000 loan from P.N.B.in October/ November 2005. He has completed his B.Tech degree. He is still unemployed. My annual income is less than Rs 1,00,000. I am feeding my big family. I am unable to pay interest. I want to return principle. Is there rule helpful to me?

    Hal Dhar Ojha
    e-mail add. – abkv_bxr@yahoo.com
  • srinivas wrote on 21 April, 2011, 15:17

    sir,

    iam v.srinivas i had taken education loan 1,20,000Rs in 2007-09 mba also i have paid intrest upto 40,000rs in sbh velpoor branch nizamabad dist a.p

    iam economically poor my daddy annually income below 1 lakh so i would like to know about the subsidy provided in education please tell me iam eligibility or not

    Reply
  • prem wrote on 28 April, 2011, 9:38

    i m prem kumar. i take the education loan 2oo9-11.for pnb bank.my income less the 1 lakhes.plase tell me about subsidy.

    thank u
  • manikandan.r wrote on 17 May, 2011, 20:52

    hi iam manikandan.r …i had taken education loan from sbi during 2008 -2012(BE)sir can u pls tell me whether iam eligible for subsidy r not .. pls send details to mail
    manikandan111ece@gmail.com
  • M.P.Rani wrote on 31 May, 2011, 11:21

    Hello messenger,

    As I’m in urgent need to take loan only for my final year B.tech
    course.Whether it’s possible for me to get the loan from SBI???
    If you know any details regarding the above mentioned particular then leave your kind reply.Awaiting for your speedy reply…+
  • sidhanta wrote on 14 June, 2011, 21:30

    HELLO SIR,
    i m continuing my diploma in mechanical branch and i want 2 join b-tech next year …but my financial condition is not good now a days.so i want 2 apply a study loan from SBI
    pliz …..give me detail information about it
    My email is sidhantahot.apu@gmail.com
    sir pliz sent any about ,,i m waiting for ur speed reply
  • satish wrote on 16 June, 2011, 20:52

    sir , i have taken loan for BE this Year (2010)
    how can i get subsidy
  • Raj Krishna Tiwari wrote on 29 June, 2011, 23:01

    i m Raj Krishna Tiwari. i take the education loan 2oo9-11.from Baroda U.P. Gramin bank.my income less the 1 lacks. Please tell me about subsidy.

    thanking you
  • shiv vijay singh wrote on 2 July, 2011, 9:57

    i have taken education loan in 2009-2011 from sbbj.but the manager said that we don’t know about it.we can’t give u any subsidy. pls tell me what am i do??
  • S.Sridharr wrote on 4 July, 2011, 18:54

    I have taken loan for my son education loan for Rs.9.65 Lacs from Jun-2010 to till date and my anual income is Rs.2,16,000-00. Pl tell me whether I am eligible for subsidy.
  • S.Sridharr wrote on 4 July, 2011, 18:56

    I have taken loan for my son education loan for Rs.9.65 Lacs for BE Marine Engg. from Jun-2010 to till date and my annual income is Rs.2,16,000-00. Pl tell me whether I am eligible for subsidy.
  • Prachi gupta wrote on 5 July, 2011, 18:42

    I have taken loan of 5 lakh rupees from canara bank and my parents annual income just below then 1 lakh so m i eligible for interest free loan. Plz leave a rply
  • Shivanagayya wrote on 6 July, 2011, 12:54

    Sir, i have taken a loan for mca in a scheme of 2009-12 plz give the subsidy
  • Harekrishna khamari wrote on 13 July, 2011, 9:55

    Dear sir, i have taken loan of 180000 from utkal gramya bank for MBA (2005-2007). Will i be elegible for subsidy. What the procedure ?
  • admin wrote on 13 July, 2011, 12:08

    CLICK THE WORD PAN STATUS AT THE BOTTOM OF THE POST.
  • snijesh. c g wrote on 22 July, 2011, 21:05

    sir, i have admited for MBA tourism 2011-2013 batch at university of kerala, and i,m seeking for an educational loan from south malabar gramin bank mennangadi branch, wayanad district, kerala, may i get interest subsidy for the loan..pls give me a reply as soon as possible
  • snijesh. c g wrote on 22 July, 2011, 21:06

    PLS………
  • sneha wrote on 17 December, 2011, 15:08

    I have taken education loan from SBI in 2006 at 10% p.a. ,but now the EMI interest rates reach at 14% p.a.,very difficult for us to repayment. Plz advice me subsidy plans or any other way to get out from this debt. Is there any way to move lower interest rate? Plz help me.
  • sneha wrote on 26 December, 2011, 15:49

    I had taken educational loan in 2007 -2011.Let me know Wheather I am able to get Subsidy Or Not.My Parents Annual income is Less than 2 lac
  • Anand wrote on 26 December, 2011, 18:29

    Dear sir,
    I taken education loan for my higher studies in the period of 2006 -2007.
    I took loan from SBI chennai. I re-payed the principal amount, but still bank asking to pay the interest amount. Is there any possibility to get the loan interest subsidy.
    Please help me sir.
  • TANDEL ANEEP wrote on 5 January, 2012, 13:18

    RESPECTED SIR,

    I HAVE AVAILED EDUCATION LOAN Rs.1,25,500.00 FOR THE YEAR ENDED 2010-11 FROM BANK OF BARODA (SSI)SACHIN, SURAT BRANCH MY LOAN A/C.NO.2557060000202. MY PARENTS ANNUAL INCOME IS Rs.2,68,300/=SO I HAVE APPLICABLE FOR INTEREST SUBSIDY “GOV. MOHRD”. I HAVE ALL SO SUBMITTED ALL MY DOCUMENTS (INCOME CERTIFICATE & AGREEMENT) ON JULY 2010 FOR THE INTEREST SUBSIDY. I ASKED THE MANAGER FOR THE BANK HE SIDE HE HAVE NO SUCH INFORMATION FROM GOVERNMENT ORDER FOR THE SEASON 2010-11.SO KINDLY REQUEST YOU TO SUGGEST ME,THE ACTION TO BE TAKEN AND DO NEEDFUL.

    THANKING YOU,

    ANEEP TANDEL
  • THIYAGU wrote on 4 March, 2012, 2:24

    i’m THIYAGU, I had taken a loan on 2009-12 from canara bank at the rate of Rs.1,80,000.Weather i’m eligible for interest subsidy or not.
    In my bank they are saying to pay a interest.
    on before an year they got interest subsidy filled form from me.
    I’M HAVING ELIGIBLE FOR SUBSIDY SCHEME OR NOT?

    i’m waiting for your REPLY.
  • mahesh wrote on 18 April, 2012, 15:51

    HI , i have taken bank loan for the year 2006-2010 in state bank of india , please tell whether i am eligible for interest subsidy .
  • shafeeq wrote on 30 April, 2012, 13:38

    Hi i took education loan from canara bank on 2003…Please let me if iam eligible for this.

Write a Comment

«
»
Copyright © TaxGuru 2011. All Rights Reserved.
About Us - Advertise - Privacy Policy - Back to top