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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.

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172 Comments

  1. Namrata Koranga says:

    Hello,
    I took education loan in the year 2012,as I got subsidy amount of 2013 and2014,but not for 2015 and 2016.bank told ones emi started subsidy won’t be pay please suggest is that true statement made my bank employee because I am not satisfied with there statement.

  2. SWAPNIL KUMAR says:

    Sir I have Taken Educational Loan for Our son from Vijaya Bank And Government has announced that full interest subsidy under 4.5 Laks annual Income But Bank Not Given me full interest subsidy. Bank has given Partially subsidy Why.

  3. BARUN KUMAR BEHERA says:

    Sir,

    I had taken loan from your bank with the amount of 1.40 laks as education loan in 2010. But I have deposited only Rs. 82000/- due to poor status of my family. Last time I have discussed with the BM of concerned branch. He suggested me to deposit 1.30 lakhs more as under OTS Scheme and gave 3 months time. But I arranged the said amount within a month. In the mean time Manager transferred. But how can i deposit the money and how can i get the loan clearance certificate. Thanking You, I am waiting your kind and positive responds

  4. surendra sharma says:

    i take loan from bank of baroda ibb ahinsa circle jaipur in the name of abhishek sharma, bank debit interest every month in saving account ,my financial possition is not good ,i could not pay interest every month ,i already apply subsidy interest but only about 8000 subsity came in my account ,i pay about 30000 interest to bank i tell to bank officer for subsidy ,bank officer tell me goverment not sent subsidy ,

  5. Das says:

    sir, I got education loan from BOB, my family is financialy very week Iam unable to repay that amount even though there is no good job to repay that amount. now am getting an amount of rs 8000 as salary, with thus how could I repay … pls give suggestion

  6. pratap parmar says:

    Hi my name is pratap parmar .i was educational loan rs 2,00,000 in bank of Baroda and I was study completed in be degree. But I have no job then after no complete in interest so please give subsidy provided to me

  7. AJETHA E says:

    I didn’t get any job my annual income is 30900Rs iget loan (66000) from sbi kappiari,palliadi (nagercoil)for doing my PG (ME) Course for the year 2011-2013 I got an information about cancelling of interest for the year 2009-2014 so I gave the application to the bank to cancel my loan interest but they didn’t cancel interest of my loan and send a letter to me to come people court on 11-12 -2015 court already my friend went to this court the court also didn’t cancel interest.where I can gave complaint for this my email:ajetha.agi@gmail.com phone:9442543251

  8. AJETHA E says:

    I get loan (66000) from sbi for doing my PG (ME) Course for the year 2011-2013 I got an information about cancelling of interest for the year 2009-2014 so I gave the application to the bank to cancel my loan but they didn’t reduce interest of my loan and send a letter to me to come people court on 11-12 -2015 my annual income is 30900Rs where I can gave complaint for this my email:ajetha.agi@gmail.com phone:9442543251

  9. AJETHA E says:

    I get loan (66000) from sbi for doing my PG (ME) Course for the year 2011-2013 I got an information about cancelling of interest for the year 2009-2014 so I gave the application to the bank to cancel my loan but they didn’t reduce interest of my loan and send a letter to me to come court on 11-12 -2015 where I can gave complaint for this my email:ajetha.agi@gmail.com phone:9442543251

  10. prakash says:

    Sir,

    i have taken an eduction loan of amounting Rs 220000/ for bschmctt 3years degree course from UCO Bank GT Road Shahdara and my father is having the annual income less than Rs 1 lac. & every month he use to pay the interest from the date of loan begins to stop increasing my loan amount how can i avail this interest rebate facility so that my father will get rid of this loan .please let me know the answer. my contact no is 9818861387

    Please Respond ASAP waiting for your answer

    Regards
    Prakash

  11. dipesh raithatha says:

    Hi dear sir ,i have taken loan after 2009 for BBA. Am i elighble for the interest in subsidy. Loan amount 75000.And i am handicapped .so plz reply me.

  12. Kuljeet says:

    Hi Sir,

    I have taken loan from 2009 to 2012 of amount 120000. I paid 196000 Rs.
    Am I eligible for education loan interest subisidy.

    My father went to the bank and the manager refused to give subisidy and said this is for those who have taken loan before 2009. Please guide what I can do in this case.

    Thanks,
    Kuljeet

  13. usha says:

    Sir I took loan from Corp bank in the year 2012. My course completed on July 2014. After that little amount I paid to the bank. My income is less. I called bank and asked about it and they simply told they will apply and not responded properly. Whether am eligible for the subsidy ? If so how to apply. Help me pls

  14. Anand says:

    Anand
    sir
    i have take a loan from syndicate bank in 2009 for my b.tech course.loan amount is 2.5 lacs. My family income is below 1 lack and i an enble to pay my loan. So pls help me how i can avail this subsidy. Pls guide me. I shall be very thank ful to u.

  15. Bhawana says:

    sir i had taken education loan 2.98 lacs in the year of 2008 for the b.tech course From Allahabad Bank,my family annual income is Rs.123000/- only.so am enable to repay it.so i would like to know about the subsidy provided in education sector.So please do the needful.
    i shall be highly obliged.

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