Arivu Education Loan Scheme 2023: Empowering Karnataka’s Minority Students

The Arivu Education Loan Yojana 2023, facilitated by the Karnataka Minorities Development Corporation (KMDC), is a transformative initiative that aims to provide educational opportunities to students from religious minority communities in the state of Karnataka. This program offers low-interest loans at a mere 2% annual interest rate, making professional courses more accessible to deserving candidates. 

In this blog, we will explore the key aspects of the Arivu Education Loan Yojana. This includes its highlights, features, eligibility criteria, required documents, eligible courses, loan limits, and the application process.

Arivu Education Loan Scheme 2023

The Arivu Education Loan is an initiative introduced by the Karnataka Minorities Development Corporation Limited (KMDC). Its primary objective is to support students from Karnataka’s religious minority communities in pursuing professional degrees through higher education. This program is tailored to benefit communities such as Muslims, Jains, Sikhs, Christians, Buddhists, and Parsis. 

The Arivu Education Loan Option is specifically available for students who have secured admission to professional courses like M.B.B.S., B.D.S., B.Arch., B.E., Ayush, and B.Tech through the Karnataka Examination Authority (CET/NEET). The loan amount is directly transferred to the college’s bank account using the Direct Benefit Transfer (DBT) mechanism.

Karnataka Arivu Education Loan Scheme Details

Scholarship Name	Arivu Education Loan Scheme
Introduced By	Karnataka Minorities Development Corporation Limited (KMDC)
State	Karnataka
Scholarship Amount	INR 50,000 to INR 3,00,000
Objective	Providing Educational Loans to Students
Mode of Application	Online & Offline
Arivu Education Loan Official Website	https://kmdc.karnataka.gov.in/en

Features & Benefits of Arivu Education Loan Scheme

Here are some of the key features and Arivu Education Loan Scheme benefits:

• Generous Loan Amount: Eligible students can secure education loans of up to INR 3 lakh per year for their higher education in Karnataka.

• Low Interest Rate: The annual interest rate on Arivu education loans is exceptionally low, set at just 2%, reducing the financial burden on students and their families.

• Flexible Repayment: After completing their degree, students are required to start repaying the loan within a year, offering flexibility in the repayment process.

• Renewal Option: Students interested in renewing their loans should visit their district offices and pay 12% of the loan amount issued in the previous year.

Arivu Education Loan Scheme Eligibility Criteria

To be eligible for the Arivu Education Loan Scheme, applicants must meet the following criteria:

• Candidates must be permanent residents of Karnataka.

• Applicants should belong to one of the minority communities, which include Muslims, Christians, Jains, Buddhists, Sikhs, and Parsis.

• The family income of the applicant should be less than INR 2.5 lakhs from all sources.

• Eligibility extends to minority community students who have applied for CET and NEET and those seeking KMDC’s ARIVU Educational Loan.

Required Documents for Arivu Education Loan Scheme

To apply for the Arivu Education Loan Scheme, applicants will need to provide the following essential documents:

• 4 passport-size photographs of the applicant
• SSLC Marks Card and 2 PUC marks cards
• Address proof (Ration card, Aadhar card, Telephone Bill, Water Bill, Keb Bill, etc.)
• Income Certificate
• Caste Certificate
• CET/NEET Admission Ticket
• Study Certificate (Non-CET)
• Indemnity Bond
• Previous year passed marks card (Non-CET)
• Partial recovery receipt (Renewal)

• College Fee Structure (Non-CET)
• Fee Structure
• College bank details

Eligible Courses for Loan

The Arivu Education Loan Scheme covers a wide range of professional courses, including but not limited to:

• M.B.B.S.
• M.D.
• M.S.
• B.D.S.
• M.D.S.
• M.B.A.
• M.C.A.
• L.L.B.
• B.Arch.
• B.E.
• B.Tech.
• M.Tech.
• M.E.
• M.Arch.
• B.Pharma.
• M.Pharma.
• Pharma.D.
• D.Pharma.
• B.Sc. in various specializations (Horticulture, Agriculture, Dairy Technology, Forestry, Veterinary, Fisheries, Sericulture, Animal science, Food Technology, Bio Technology, Home/Community Sciences, Food Nutrition and Dietetics)
• B.Ayush.
• M.Ayush.

Loan Limits and Interest Rate for Arivu Education Loan Scheme

Loan limits for various courses under the Arivu Education Loan Yojana are as follows:

• M.B.B.S., M.D., M.S.: Up to INR 3 lakh per year

• B.D.S., M.D.S.: Up to INR 1 lakh per year

• M.B.A., M.C.A., L.L.B.: Up to INR 50,000 per year

• B.Arch., B.E., B.Tech., M.Tech., M.E., M.Arch.: Up to INR 50,000 per year

• B.Pharma., M.Pharma., Pharma.D., D.Pharma.: Up to INR 50,000 per year

• B.Sc. in specified disciplines: Up to INR 50,000 per year

• B.Ayush., M.Ayush.: Up to INR 50,000 per year

How to Apply for Arivu Education Loan Yojana 2023?

To apply for the Arivu Education Loan Scheme, follow these steps:

• Visit the official website of the Karnataka Minorities Development Corporation Limited: https://kmdc.karnataka.gov.in/en.

• Under the “Loan/subsidy for minorities” tab, click on “Apply Online.”

• Enter your mobile number and Aadhaar card details, and click “Submit.”

• Verify your identity by entering the OTP sent to your registered mobile number.

• Select the “Arivu Education Loan” option to access the application form.

• Complete the application form with details such as Name, Father’s Name, Academic Details (NEET or CET Score and SSLC Score), Income Details, Caste or Religion details, Address details, etc.

• Upload all the required documents.

• Review and double-check all the details to avoid errors.

• Finally, click “Submit” to complete the application process.

Arivu Education Loan Contact Number

For further information, inquiries, or assistance related to the Arivu Education Loan Yojana, you can reach out to the following contact details:

• Phone Number: 8277799990

• Email ID: [email protected]

Conclusion

The Arivu Education Loan Yojana is a transformative step towards making quality education accessible to Karnataka’s minority communities, empowering students to pursue their dreams of professional education with financial support and minimal interest rates.
 The Arivu Education Loan Scheme 2023 is a testament to Karnataka’s dedication to inclusive education and empowerment. It not only paves the way for minority students to realize their academic dreams but also contributes to the overall development of the state. By reducing financial barriers and promoting higher education, this scheme fosters a brighter and more promising future for the students of Karnataka. For those aspiring to achieve professional excellence, the Arivu Education Loan Yojana is a lifeline, guiding them toward a brighter and more prosperous tomorrow.