Ministry of Finance17-February, 2014
The
Union Finance Minister Shri P. Chidambaram has announced a Moratorium
period for all education loans taken-up to 31.3.2009 and outstanding
on 31.12.2013. Government will take over the liability for
outstanding interest as on 31.12.2013, but the borrower would have to
pay interest for the period after 1.1.2014. Nearly 9 lakh students
borrowers will benefit to the tune of approximately Rs2,600 crore.
Presenting the Interim Budget in the LokSabha today, the Union Finance Minister ShriChidambaram said that a sum of Rs 2,600 crore will be provided in the current financial year itself and this amount will be transferred to the Canara Bank. Mr. P. Chidambaram said that the Central scheme for interest subsidy was introduced in 2009-10 in respect of education loans disbursed after 1.4.2009. However, students who had borrowed before 31.3.2009 struggled to pay interest during the period of study and they deserved some relief. Shri P. Chidambaram informed that ten years ago, only a few thousand students- mostly the well-connected- got education loans. At the end of December 2013, Public Sector Banks had 25,70,254 student loan accounts and the amount outstanding was Rs. 57,700 crore.
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DSM/RC/SK (Release ID :103727) |
i have availed the edu loan in feb 2009 & paid in 2012 & the a/c has been closed in 2012 may i eligble for interest subsidy for interest i have paid
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