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Canara Bank posts answers on interest subsidy

From Mathrubhumi Education Online

Kochi, July 13, 2011: The Canara Bank has posted on its website the frequently asked questions (FAQs) and their answers on Central Gvernment Scheme on Interest Subsidy (CSIS) on Educational Loans disbursed from April 1 2009. Those students who are struggling to get the subsidy from respective bank branches may show the managers of these banks this website and ask them to implement the scheme. Canara Bank is the nodal bank for the scheme appointed by the Union Ministry of Human Resource Development. The respective Canara Bank link is http://www.canarabank.com/English/Scripts/FAQforstudents.aspx (or just go to Canara Bank website and click on Interest Subsidy link at the bottom. Once you enter the page, you can see 'FAQ for students' link and click there to get the FAQ page)

Students are required to submit at the bank branch an income certificate showing that their parental income is below Rs 4.5 lakh annually to avail the benefit of the scheme. From the above said web link of Canara Bank link students can download the format for sumbmitting the income certificate. The students have also to sign an agreement with the branch where he/she has taken the loan so as to avail the benefit. The format for this agreement too can be download from the website link. So this link is very useful, and one can just force a refusing bank manager oblige.

Remember, the last date to apply for the scheme for the 2009-2010 period is July 20, 2011 - which means just seven days left. So hurry up. The last date to apply for the period 2010-11 is July 31, 2011, according to the website.

Edu loan subsidy: 13 states yet to post authority

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