NEWS & ADVICE : EDUCATION LOANS
A unique education loan scheme for weaker sections
By Neelima Shankar
Nov 26, 2009
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A distinctive education loan scheme was introduced in Dharmapuri district for the benefit of weaker sections of society. The scheme provides a subsidy of Rs. 25,000 for the poor.

The scheme was initiated by P Amutha, District Collector, through the Socio Economic Development Programme (SEDP) of the state government. The scheme would help poor students in pursuing higher education after school.

The scheme has been introduced to bring about a considerable change in lives of people living in Naxal-infested areas of the district. The SEDP programme is being implemented in 153 villages in five Panchayat unions in the district.

As per the scheme, the subsidy would be 20 percent of the education loan subject to a maximum of Rs. 25,000. The loan would only be provided to candidates whose parents' annual income is less than Rs. 50,000. The candidates would have to produce an income certificate from the tahsildar.

The other prerequisite for availing the loan is that the student should be a first generation graduate or diploma holder in the family. The candidate would also be required to present documents to support this.

In the previous academic year, the district administration had allocated Rs. 50 lakh as subsidy for 200 students but the actual beneficiaries were 216.

The centre and state governments are doing a lot for the benefit of weaker sections of society. Recently, there was a revision in eligibility criteria in Virudhnagar , MP. According to the revised norms, the students who could not clear the plus two exams in their first attempts can also avail these loans.

 


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