Education and Career Forum

I have completed degree course one year ago but lost my job due to some circumstances like Demonetization. Please tell me can I get subsidy in repayment of education loan? How to write letter to Bank Manager?

As per my knowledge, you cannot get subsidy in repayment of education loan.

Bank only provide full interest subsidy to minority candidates whose family income is less than 4.5 lakhs.

Banks donot give any facility of subsidy in repayment to education loan holders.

Education loan subsidy is given during course duration only. After bachelor's degree completion, one more year is allowed without interest. But candidates can not ask for subsidy after completion of this extra year. Bank is not going to give you any subsidy as subsidy is given by Government of India for Education loan.

However, there is some power with bank manager if you submit whole education loan at one time. You can personally talk to branch manager about this issue.

Central subsidy scheme is available for financially poor candidates only for education loan. For that you need to submit the income proof of your family to the bank branch.

There is no subsidy based on your circumstances. Hence, you should get your family income proof and ask the bank manager to apply for interest subsidy on your education loan.

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