HOW TO GET EDUCATION LOAN FOR ENGINEERING

How to Get Education Loan For Engineering

How to Get Education Loan For Engineering

Blog Article

Introduction of the Arivu Education Loan Program for Karnataka Engineering Students

How to Get Education Loan For Engineering Students from religious minority groups, including Muslims, Christians, Jains, Sikhs, Buddhists, and Parsis, who are pursuing professional courses like B.E./B. Tech can receive crucial financial support through the Arivu Education Loan Scheme, which was introduced by the Karnataka government through the Karnataka Minorities Development Corporation (KMDC). This program assists qualified students in overcoming financial obstacles and realizing their engineering goals by offering low-interest loans, no collateral, and simplified application procedures.

Essential Qualities & Qualifications



    • Loan Amount: Depending on the course, between ₹50,000 and ₹5 lakh annually

    • Interest Rate: Direct funding transfer to the college with a nominal 2% service fee



 

  • Requirements for applicants:


 


    • Must belong to a religious minority and be a Karnataka resident .

    • Family income capped at ₹8 lakh per annum



 

  • Admission via competitive exams like CET/NEET for engineering institutions 


 

Application Process

 

  • Registration:


 



      • Apply online via the KMDC portal: create an account and fill in the details.




 

  • Document Submission:


 



      • Submit caste & income certificates, admission proof, marksheets, Aadhar, copyright photos, an indemnity bond, the fee structure, and bank details. 




 

  • Verification & Sanction:



  • KMDC verifies documents and merit; shortlisted students receive the sanctioned loan.



  • Disbursement:


 



      • Funds are posted directly to the college account for tuition fees




 

  • Renewal Conditions:


 


    • Annual renewal after paying 12% of the previous year’s loan



Repayment Details

 

  • Moratorium: Repayment begins six months to one year post-course completion 



  • Repayment Tenure: Typically within 48 months after moratorium .


 

Conclusion
How to Get Education Loan For Engineering  The Arivu initiative provides minority students in Karnataka, particularly those pursuing engineering, with a well-organized and convenient financing option. It greatly simplifies financing for College with competitive interest, no collateral for acceptable quantities, and streamlined funding. To improve their chances of getting an engineering degree, prospective students should check the KMDC portal for the current application windows, get their paperwork ready, and submit it on time.

Report this page