Loading... Google Search

Government will bear interest of education loan in moratorium period


This is a good news for middle class student community of India. As per the article published in Rupeetimes.com, the Prime Minister's Office (PMO) and the Ministry of Human Resource Development (MHRD) is planning to bear the burden of interest component of education laons during the moratorium period.

What is moratorium period
Till students complete their course and get the job, they will not be paying the interest. However the interest is calculated and added to the principal amount. So there will be a gap for students to complete their course and get the job and start repaying the laon. This time period is called moratoriam period. The interest accrued in this period will be repaid to banks by government of India once this scheme is implemented.

As per the article, this facility is available to only those who have annual income less than 2.5lakhs and avail education loan for professional and technical course. However, one student can avail this facility only once. i.e you cannot avail this facility for both graduate and post graduate program. Any one course you can opt for this facility.

Technorati Tags:

Related Posts by Categories


Make A Comment