BENGALURU:The Karnataka Minorities Development Corporation (KMDC) has plans to double the quantum of interest-free education loan for 2015-16 to be disbursed among students belonging to the minority communities seeking admissions to various professional courses, Wakf and Municipal Administration Minister Qamarul Islam said.
He was speaking reporters here on Wednesday after giving a cheque of Rs 10 crore to the Karnataka Examinations Authority towards pre-sanction of interest-free loan to candidates seeking admissions to various professional courses selected through the Common Entrance Test (CET).
Qamarul said that KMDC provided loan assistance to over 1,859 minority students under the Arivu scheme in 2014-15.
“This year, the Corporation has plans to sanction double the amount compared to last year ... The number of applications received by KMDC so far under the Arivu scheme for the 2015-16 academic year is over 4,000.”
He said to ensure that eligible students are not left out from pursuing professional courses due to lack of financial support, the government has modified norms and now the facility can be availed by those who get admissions into private management colleges too.
“Last year, KMDC had disbursed over Rs 53 crore to over 22,223 students ... The income limit to avail the interest-free loan has also been enhanced from Rs 4.50 lakh per annum to Rs 6 lakh,” he said.
Of the 1,859 minority students who got assistance under the Arivu scheme in 2014-15, 347 were Christians and 95 from the Jain community.
For the year 2015-16, 3,578 Muslims, 275 Christians, 93 Jains and three from the Sikh Community will be included, he added.