Education and Career Forum

I got Educational Loan in the year 2011-12 for Rs.99,500/-.At that time the banking officials told me that you should repay your loan atleast after the moratorium period (Within one Year after the completion of course or within 6 month after you getting a job), because up to the moritorium period govt will give subsidy i.e Interest.I finished my course in May 2014 and i got job in july 2015. After getting job i went to the bank to start repayment. But I am shocked that the Loan amt become Rs.1,40,000/-(nearly 40,000/- interest) While seeing my Loan statement interest been credited by the bank from the day on which i got the Loan. I didnt got any subsidy from Govt, Since my father salary is well below Rs.4,00,000/- Now what i have to do to get subsidy up to my moritorum period???????

You can have a chat with the bank manager about this issue. If you fulfill the eligibility criteria to get subsidy, then you should get it after providing them the income proof certificate.

If they are not cooperating, then contact the higher official of the bank or file a public grievance with all the proof.

I got Educational Loan in the year 2014 for Rs.1,97,000/-.At that time the banking officials told me that you should repay your loan atleast after the moratorium period (Within four Year after the completion of course or within 1 year after you getting a job), because up to the moritorium period govt will give subsidy i.e Interest but i didn't received any type of subsidy and for december 2014 i have paid Rs.1875 per month as a interest .I finished my course in May 2018 . After that i went to the bank to ask about my loan. But I am shocked that the Loan amt become Rs.2,40,000/-(nearly 40,000/- interest more after filling all interest till 4 year) While seeing my Loan statement interest been credited by the bank from the day on which i got the Loan. I didnt got any subsidy from Govt, Since my father salary is well below Rs.2,50,000/- Now what i have to do to get subsidy up to my moritorum period and i m not able to pay loan again ???????