Karnataka Minorities Development
Corporation Limited

Government of Karnataka

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ARIVU EDUCATION LOAN SCHEME

"ARIVU" EDUCATION LOAN SCHEME 

Under this scheme, Religious Minority Community students who wish to pursue professional courses such as M.B.B.S., M.D., M.S., B. E., B.Tech., M. E, M. Tech., B.D.S., M.D.S., B. Ayush, M. Ayush, M.B.A., M.C.A., L.L.B., B. Arch, M. Arch, B.Sc in Horticulture, Agriculture, Dairy Technology, Forestry, Veterinary, Animal sciences, Food Technology, Bio Technology, Fisheries, Sericulture, Home/community Sciences, Food Nutrition and Dietetics, B.Pharma, M.Pharma, Pharma.D,and D.Pharma will be granted loans ranging from Rs. 50,000/- to Rs. 3,00,000/- for every year until the course duration.  Such student shall repay the loan with service charges of 2% after 6 months of completion of the course. The annual income of the beneficiary’s family under this scheme should not exceed Rs. 8,00,000/- per annum.

 

Guidelines: 

  1. Students who wish to obtain education loans should submit their applications through KMDC website online.
  2. When applying for renewal, Students are required to pay 12% of the loan issued by the corporation during the previous year at their respective District Office.
  3. Institutions/Colleges shall ensure that caste/income certificate issued by the Tahsildar as to whether the student belongs to the minority community and the family income limit does not exceed Rs. 8.00 lakh per annum.
  4. The income of the student's family should not exceed Rs.8.00 lakhs per annum.
  5. The loan amount to the student will be transferred from KMDC to the bank account of their respective college through Direct Benefit Transfer.
  6. Students who are selected through the Karnataka Examination Authority (CET/ NEET) for Government/Private Colleges under Government Quota for M.B.B.S./M.D.,/M.S., courses will be eligible for a maximum loan of Rs. 3.00 lakh.
  7. Students who are selected through the Karnataka Examination Authority (CET/ NEET) for Government/Private Colleges under Government Quota for B.D.S., and M.D.S., courses will be eligible for a maximum loan of Rs. 1.00 lakh and for B. Ayush and M. Ayush Courses a maximum loan of Rs. 50,000/-.
  8. Students who are selected through the Karnataka Examination Authority (CET/ NEET) for Government/Private Colleges under Government Quota for Bachelor of Architecture / Engineering / Technology (B. Arch/BE/B.Tech), M.Tech, M.E., M. Arch., courses will be eligible for a maximum loan of Rs. 50,000/-.
  9. In addition to this, tuition fee loan of maximum Rs.50,000/- will be provided to the students who have opted for M.B.A., M.C.A. and L.L.B. courses through KEA.
  10. Students who are selected through the Karnataka Examination Authority (CET/ NEET) for Government/Private Colleges under Government Quota for B.Sc in Horticulture, Agriculture, Dairy Technology, Forestry, Veterinary, Animal sciences, Food Technology, Bio Technology, Fisheries, Sericulture, Home/community Sciences, Food Nutrition and Dietetics will be eligible for a maximum loan of Rs. 50,000/-
  11. Students who are selected through the Karnataka Examination Authority (CET/ NEET) for Government/Private Colleges under Government Quota for B.Pharma, M.Pharma, Pharma.D,and D.Pharma will be eligible for a maximum loan of Rs. 50,000/- 

 

Eligibility:

(A)  The student must belong to the State Religious Minority Community.

(B)  The student must be a permanent resident of the State.

(E)  Annual income of the family should not exceed Rs.8,00,000/-

Documents required:

  1. Student Online Application
  2. Recent 2 Passport size photos of the student
  3. Student's caste and income certificate
  4. Aadhaar card copy of the student
  5. Letter of student's CET admission letter
  6. Letter of Student's NEET Admission letter
  7. Student's SSLC / 10th Marks card copy
  8. Student's Diploma / PUC Marks card
  9. Indemnity Bond by the Student and Parents
  10. Student’s College Bank Details
  11. Student Bona-fide/Study Certificate
  12. Student Self-declaration Form
  13. Parents Self-Declaration Form
  14. College Fee Structure.
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