HOW TO GET EDUCATION LOAN FOR ENGINEERING

How to Get Education Loan For Engineering

How to Get Education Loan For Engineering

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Arivu Education Loan Scheme for Engineering Students in Karnataka

Introduction
How to Get Education Loan For Engineering The Arivu Education Loan Scheme, launched by the Government of Karnataka via the Karnataka Minorities Development Corporation (KMDC), provides vital financial support to students from religious minority communities—such as Muslims, Christians, Jains, Sikhs, Buddhists, and Parsis—pursuing professional courses including B.E./B.Tech. With low-interest loans, no collateral, & streamlined application processes, this initiative helps eligible students overcome financial hurdles & achieve their engineering aspirations.

Key Features & Eligibility

 


  • Loan Amount: ₹50,000 to ₹5 lakh per year, based on the course 



  • Interest Rate: Nominal 2% service charge, with direct fund transfer to the college 



  • Applicant Criteria:


 



      • 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 scheme offers a structured & easily accessible financing option for Karnataka’s minority students, especially those pursuing engineering. With competitive interest, no collateral for eligible amounts, and streamlined funding, it significantly eases educational financing. Prospective applicants should confirm current application windows on KMDC’s portal, prepare their documents, and submit them punctually to maximize their engineering education prospects.

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