The Minorities Development Corporation Limited of Karnataka has released the Karnataka Arivu Education Loan Scheme. This scheme has been launched to help students from religious minorities in the state of Karnataka so that they can go for further higher professional studies. The communities that will receive the benefit of this scheme are Muslim, Jains, Sikh, Christian, Buddhist, and Parsi. Only students who have been approved by the Karnataka Examination Authority (via CET/NEET) into courses like M.B.B.S., B.D.S., B.Arch., B.E., Ayush, and B.Tech are eligible for Karnataka Arivu Education Loan Scheme. The student loan sum will be immediately sent from the KMDC to the college’s bank account via the Direct Benefit Transfer (DBT) process.
Importance of Karnataka Arivu Education Loan Scheme
Higher education is important to every citizen to gain a professional qualification in their lives. We all need to choose degrees and courses to chase our dreams and goals. The government of Karnataka has made it possible for the minority communities that are living inside Karnataka. The Karnataka Arivu Education Loan Scheme financially assists the students who professionally want to choose higher education as their career. Through the Karnataka Minorities Development Corporation (KMDC), applications are now being accepted for the Arivu Education Loan Scheme 2023. This program provides low-interest loans. All the pursuing students can apply for this lone both online and offline and can receive the benefits of this scheme.
Also Read: KMDC Loan Status
Objective of Karnataka Arivu Education Loan Scheme
The main and most important aim of this scheme is to promote education among the religious minorities of Karnataka. To encourage the students that they can choose whatever professional course they want to choose for themselves without any barriers. Karnataka Arivu Education Loan Scheme will provide hope for the students who are financially weaker and cannot afford quality education. Applications for the Arivu Education Loan Scheme 2023 are now being taken through the Karnataka Minorities Development Corporation. To enable students from the state’s religious minorities to participate in professional courses, this initiative offers loans to them at a low-interest rate of 2% annually.
Key Highlights of Karnataka Arivu Education Loan Scheme
|To promote education among minorities||Karnataka Arivu Education Scheme|
|Launched by||The state government of Karnataka|
|Objective||Providing loans to students who want to pursue education|
|Benefits||Providing loans to the students who want to pursue education|
|Application mode||Online and offline both|
Required documents for Karnataka Arivu Education Loan scheme
The following are some of the key documents needed for the plan:
- 4 passport-sized photos of the applicant
- Marks cards for both PUCs and SSLCs
- Ration cards, Aadhar cards, phone bills, water bills, Keb bills, and other forms of address verification
- Income Tax Form
- Caste Document
- Entrance ticket for CET/NEET
- Certificate of Study (Current Course Non-CET)
- Assurance Bond
- Card with previous year’s passing grades (non-CET)
- Receipt for partial recovery (Renewal)
- (Non-CET) College Fee Structure
- Fee Schedule
- College bank information
Also Read: KSRTC Student Bus Pass
Benefits of Karnataka Arivu Education Loan Scheme
The Arivu Education Loan Scheme’s benefits include the following:
- For each year that they spend pursuing higher education, students in Karnataka are eligible for education loans worth up to 3 lakhs.
- The annual interest rate on the Arivu education loan is 2%.
- Additionally, within a year of receiving their degree, students must start repaying their debt.
- If students want to renew their loans, they must go to their district offices and pay 12% of the loan amount that the company supplied the year before.
Candidates for the Arivu Education Loan Scheme must fulfill the following criteria:
- A candidate must reside in Karnataka permanently
- An applicant must practice a minority faith, such as Parsi, Buddhism, Sikhism, Christianity, Islam, or Judaism.
- The applicant’s household must have an annual income of less than Rs. 2.5 lakhs
- Minority community students who are interested in the KMDC’s ARIVU Educational Loan program as well as those who have applied for CET and NEET.
- For a comprehensive list of the courses that qualify for an Arivu loan, applicants seeking a bachelor’s degree in engineering, medicine, dentistry, nursing, B.Ed., D.Eds., B-Pharma, D.Pharma, and other professions can visit this website.
Karnataka Arivu Education Loan scheme apply online 2023
The following actions must be taken by the user to apply for the loan:
- To start, go to the official website of the Karnataka Minorities Development Corporation Limited.
- The screen will show the website’s home page.
- choose Apply Online from the Loan/Subsidy for Minorities menu.
- As soon as you have entered your phone number and Aadhaar card, click the submit button.
- An OTP will be sent to the registered mobile number for you
- Enter the acquired OTP to confirm.
- Select Arivu Education Loan once the verification process is complete.
- The application form will show up on the screen.
- Enter all the required data now, including
- Name of Parents
- SSLC and NEET scores are included in the academic data.
- Information on Income
- information on caste or religion,
- Next, upload the required documentation.
- Once the application process is complete,
Karnataka Arivu Education Loan Login
To log in on the online web portal of KMDC you need to follow these steps;
- First, you need to visit the official website for KMDC.
- Then a homepage will appear in front of you.
- After that on the left upper corner, you will see the login option and click on that.
- After clicking on that you will be directed to another page.
- Fill in your username ID and Login Password and enter Captcha CODE.
- After that click on the login and hence your account will be logged in.
- Phone Number: 8277799990
- Email ID: email@example.com
Karnataka Arivu Loan education scheme has been launched by the government of Karnataka for the students who are studying inside Karnataka. This scheme will help them in pursuing higher professional degrees by providing a loan.
This scheme will provide for each year that they spend pursuing higher education, students in Karnataka are eligible for education loans worth up to 3 lakhs. The annual interest rate on the Arivu education loan is 2%.
A candidate must reside in Karnataka permanently an applicant must practice a minority faith, such as Parsi, Buddhism, Sikhism, Christianity, Islam, or Judaism. The applicant’s household must have an annual income of less than Rs. 2.5 lakhs
Yes, you can easily apply for this scheme online by visiting the online web portal of this scheme that has been launched by the state government of Karnataka. Fill in the required details and hence you will be registered for this scheme.