Salem Collector instructs banks not to reject education loan applications without valid reason

District Collector S. Karmegam on Thursday instructed banks not to reject education loan applications without valid reasons.

The District Collector participated in a meeting with bank officials and college principals on Thursday. At the meeting, Mr. Karmegam said the district administration was taking all steps to ensure students got higher education. The main aim of education loans was that money should not be a barrier for a student.

In Salem district, 153 government, aided, and private colleges were there and 47 banks were functioning in the district with 501 branches. On behalf of the district administration, an Education Loan Mela would be conducted at Sona College of Technology on October 15 from 9 a.m. to 6 p.m., Mr. Karmegam added.

The Collector said banks should not reject education loan applications from students without valid reasons. Likewise, loans should be disbursed within a stipulated time. Regarding the Vidya Lakshmi portal, an exclusive portal for students seeking education loans, instructions were given to banks to take action on the applications received through it, Mr. Karmegam added.