The Karnataka Minorities Development Corporation (KMDC) has proposed to grant interest-free education loans to 4,000 students pursuing professional courses in 2015-16.
The Corporation on Wednesday handed over a cheque of Rs. 10 crore to the Karnataka Examination Authority, towards pre-sanction of loan to students, seeking admissions into professional courses, through CET. The annual income limit to avail the interest free loan has been enhanced from Rs. 4.50 lakh to Rs. 6 lakhs.
Students belonging to minority communities only are eligible to receive the loan.
Minister for Wakf and Municipal Administration, Quamarul Islam told presspersons the KMDC had provided loan assistance to 1,859 minority students under the “Arivu” scheme.
The KMDC has received 4,000 applications seeking education loans in 2015-16, he said.
The corporation disbursed over Rs. 53 crore to over 22,223 students studying professional courses. Under Christian Development Programme a sum of Rs. 4.10 crore had been sanctioned to 1,252 students, he said.
