Even those who score below 60% are eligible for education loans! ďż˝ Chennai High Court
Posted on: 10/Jul/2014 2:20:51 PM
Chennai High Court has declared that even students who scored below 60% are eligible for education loans to pursue engineering & other courses.
The central government introduced the scheme of education loans to help the financially backward students to pursue higher studies.
This loan is not given free. The students will have to pay it back with interest. The education scheme was introduced primarily with the social awareness to help the people in backward communities to come up in life.
The banks will have to process applications for education loan considering this primary reason.
During the meeting conducted on 27th September, 2012 participated bt the heads of all nationalised banks, it was clearly decided that the students joining under the administration quota are also eligible for education loan. It was also decided that all applications for education loans to be finalised within 15 to 30 days.
Indian Banks Association has determined that all students who have completed 12th Standard wishing to pursue higher education in India or abroad can be given education loans.
The judges have declared that the banks cannot insist that education loans can be given only to those who scored more than 60% in 12th Standard.
