[Attachment(s) from Education Loan Task Force ELTF included below]
Mr Thamaraiselvan MP has taken up in Lok Sabha as a 'matter of public importance under Rule 377' on 3rd Sep 2013, the issue of interest subsidy. Though Government of India provides 100% interest subsidy, many of the Banks do not pass on this 100% subsidy to the students and also demand interest payment from the students, thereby defeating the very purpose of the education loan. The students eligible under interest subsidy need not pay any interest till the end of moratorium period. Since many of the Regional Managers and the Branch Managers do nt know the rules, they force the students to pay interest, in spite of their eligibility under interest subsidy. ELTF has also taken up with RBI several times. (Please read the attachment for the text of the submission made by the MP in Lok Sabha)
Mr Hansraj Gangaram Ahir MP has personally handed over a two page letter (attached) to Hon'ble Prime Minister today, on the various problems faced by the poor students. Some of the issues brought to the notice of Prime Minister are delay in processing the loans, collection of interest during the study period in spite of interest subsidy, fixing short repayment period to the students causing financial tension, lack of relationship between the banks and the student borrowers, insisting on higher minimum marks from rural students, etc.
These two MPs have taken up the cause of education loan, because of the request from Education Loan Task Force. ELTF thanks them for their patient hearing, understanding the problems of poor students and taking up with the Government through Lok Sabha.
dear all
Mr Hansraj Gangaram Ahir, BJP MP from Maharashtra (whistle blower of coal scam and thorium scam) and Mr Thamaraiselvan, DMK MP from Tamil Nadu have taken up the cause of Education Loan in Parliament separately. They are the active supporters of Education Loan Task Force (ELTF), an initiative of Action 2020 and India Vision 2020 groups. Through ELTF, we have been creating public awareness about education loan. Wherever genuine meritorious poor students are harassed by banks, we also take up with the concerned Bank Chairman and with RBI for redressal of grievances. Generally, public sector banks resolve the grievances within 24 to 48 hours. Private Banks never care for any grievances from poor people. These two MPs have taken up the cause of education loan, because of the request from Education Loan Task Force. ELTF thanks them for their patient hearing, understanding the problems of poor students and taking up with the Government through Lok Sabha.
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Attachment(s) from Education Loan Task Force ELTF
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