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Arivu Education Loan Scheme: Empowering Minority Students in Karnataka

The Arivu Education Loan Scheme, launched by the Minorities Welfare Department, Government of Karnataka, and implemented by the Karnataka Minorities Development Corporation (KMDC), is a transformative initiative aimed at empowering students from Karnataka’s minority communities. This scheme facilitates financial assistance to students who wish to pursue higher education in professional fields, ensuring that financial constraints do not hinder their aspirations.

The program supports students in pursuing professional courses such as MBBS, MD, MS, BE, B.Tech, BDS, MBA, LLB, and several other specialized fields, fostering career growth and contributing to the state’s socio-economic development.

Objectives

  1. Financial Assistance for Higher Education: To provide easy access to educational loans for minority students to pursue professional courses.
  2. Encouraging Professional Development: To support students in fields such as medicine, engineering, law, and technology, among others.
  3. Promoting Inclusivity: To ensure that students from religious minority communities are not left behind in achieving their academic and career goals.

Benefits

  1. Loan Amount:
    The scheme provides an annual loan amount ranging from ₹50,000 to ₹5,00,000, depending on the course and the duration of study. This ensures that students can cover tuition fees and other essential expenses.
  2. Loan Renewal Process:
    Students can renew the loan each year by paying 12% of the loan amount disbursed during the previous year. This renewal process helps ensure continuous financial support throughout the course duration.
  3. Flexible Loan Repayment:
    • Repayment begins six months after course completion, giving students adequate time to secure employment.
    • The loan must be repaid with a minimal 2% service charge, making it an affordable option for students.

Eligibility Criteria

To benefit from the Arivu Education Loan Scheme, students must fulfill the following eligibility requirements:

  1. Community Membership:
    Applicants must belong to one of the State Religious Minority Communities as recognized by the Government of Karnataka.
  2. Residency:
    Applicants must be permanent residents of Karnataka.
  3. Family Income:
    The annual family income should not exceed ₹8,00,000. This ensures that financial assistance is provided to deserving candidates from economically weaker sections.

Professional Courses Covered

The scheme covers a wide range of professional courses, ensuring that students in various disciplines are supported. Some of the prominent fields include:

  • Medical Courses: MBBS, MD, MS, BDS, MDS, B.Ayush, M.Ayush, Pharma.D.
  • Engineering and Technology: BE, B.Tech, ME, M.Tech, B.Arch, M.Arch.
  • Agricultural Sciences: B.Sc. in Agriculture, Horticulture, Dairy Technology, Forestry.
  • Veterinary and Food Sciences: B.Sc. in Veterinary, Animal Sciences, Food Technology, Biotechnology.
  • Law and Management: LLB, MBA, MCA.
  • Other Specialized Fields: Fisheries, Sericulture, Community Sciences, Dietetics, and Pharmacy courses.

Documents Required

Students applying for the Arivu Education Loan Scheme must submit the following documents:

For Fresh Applications:

  1. Personal Documents:
    • Two recent passport-size photos.
    • Aadhaar Card.
    • Student’s Caste Certificate.
    • Income Certificate.
  2. Academic Records:
    • SSLC/10th Marks Card.
    • Diploma/PUC Marks Card.
    • CET/NEET Admission Letter.
  3. College Details:
    • Bonafide/Study Certificate.
    • College Fee Structure.
    • Student’s College Bank Details.
  4. Additional Forms:
    • Indemnity Bond (downloadable from the KMDC website).
    • Student Self-Declaration Form.
    • Parents’ Self-Declaration Form.

For Loan Renewal:

  1. Bonafide/Study Certificate.
  2. College Fee Structure.
  3. Previous Year’s Passed Marks Card.
  4. Security Deposit Paid Receipt (12% of the loan amount).
  5. KEA Admission Order (copy).
  6. College Bank Details.

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