Portal to claim Interest Subsidy for FY 2017-18 is open from 1st Sep 2018 till 28th Sep 2018

Ministry of HRD has advised Canara Bank to open the Interest Subsidy portal from 1st September 2018 to 28th September 2016 for primary claims of Interest Subsidy on Education Loan for Financial Year 2017-18. As per guidelines, the Branch Managers have to identify the eligible student borrowers and submit the claim for interest subsidy for FY 2017-18 through Canara Bank portal.  In the past, many branch managers did not claim the subsidy...

Read More

ELTF Nominates Kavipriya as Goodwill Ambassador to Promote Education Loan Awareness

Education Loan Task Force (ELTF) has nominated Ms Kavipriya Anandan,  a multi-faceted personality as ‘Goodwill Ambassador’  for the Academic Year 2018-19 to promote Education Loan Awareness, especially among the poor and financially needy students.  Kavipriya is an  Entrepreneur, Beauty Pageant Winner, Film Maker, Author, Classical Dancer, Communication Strategist, Motivational Speaker and Social Worker.  She is also...

Read More

ELTF Submits a Petition to Improve Education Loan Scheme, to Hon’ble Chairman of Finance Committee

Prime Point Srinivasan, Publisher & Mg. Editor of PreSense and Convenor of Education Loan Task Force presents a petition to Dr Veerappa Moily.  Shri Rajeev Shankarrao Satav, Shri Bhartruhari Mahtab and Smt. Supriya Sule, Award winning Parliamentarians look on. Education Loan Task Force (ELTF) is one of the initiatives of your ezine PreSense.  On behalf of ELTF, Prime Point Srinivasan, Mg. Editor of PreSense and Convenor of ELTF...

Read More

How to handle when Banks did not claim interest subsidy on Education loans? - FAQ

ELTF has been receiving hundreds of mails from the students seeking our advice on the following two aspects. 1.  Banks have not claimed eligible subsidy from the Government within due date, thereby denying the interest subsidy to the students; and 2.  Though the Government of India has promised 100% interest subsidy during the study period plus one year for eligible students, the Government has not settled full amount. To...

Read More

SBI not credited 534 crores of interest subsidy to Education Loan borrowers, after receiving from Government - Needs CBI enquiry

26 Sep 2017 This is the mail sent to Central Vigilance commissioner, Delhi under copy to Ministry of Finance and Ministry of Human Resources Development.   Dear Sirs During the 7 years period between 2009 and 2016, State Bank of India has not credited Rs.534 crores of Education Loan Interest Subsidy received from Government of India, to the eligible student borrowers.  They have denied legitimate subsidy to eligible...

Read More

Legal Remedies available to students through District Consumer Forum / District Courts / High Court

(Shri Jagannath Badrinath, Advocate, Madras High Court writes on the legal remedies available for students, when they find deficiency of service from the Banks.) THE FOLLOWING ARE THE LEGAL REMEDIES AVAILABLE TO THE STUDENTS – 1.      The District Consumer Forum as a Consumer – if there is a case where the bank has committed any deficiency of service and negligence prima facie on part of the Bank. 2.      The...

Read More