Arivu Education Loan Scheme was started by Minorities Welfare Department, Govt of Karnataka and implemented by the Karnataka Minorities Development Corporation ( KMDC ). Through this scheme, loans will be granted for professional courses to students of MB-BBS, M.D, MS, B.E., MTech, BE, MTech, BDS MS (Yogindrasis) B.Ayush,M.Ayush, MBA,MCA LLB & BA/MArch,BA,Horticulture, Agriculture, dairy technology, forest, veterinary, Animal Sciences, Food Technology, Biotechnology, Fisheries, Sericulture, Home / Community Sciences, Food Nutrition and Dietetics in the year of B.Pharma, M.Pharma, Pharma.D/D.Pharma.
Objective
- To support minority students financially in higher education.
- To reduce financial barriers for students pursuing professional and technical courses.
- To ensure that students from low-income families can complete their education without financial burden.
Benefits
- Loan Amount: ₹50,000/- to ₹5,00,000/- per year (for the duration of the course).
- Loan Renewal: Students must pay 12% of the previous year’s loan amount before renewal.
- Loan Repayment: Repayment begins 6 months after course completion, with a service charge of 2%.
Eligibility Criteria
- The applicant must belong to a recognized religious minority community (Muslim, Christian, Jain, Sikh, Buddhist, or Parsi).
- The applicant must be a permanent resident of Karnataka.
- The annual family income must not exceed ₹8,00,000/-.
- The applicant must have secured admission in a professional course through KEA-CET, NEET, or other recognized entrance exams.
Courses Covered
The scheme covers students pursuing professional degrees such as:
- Medical & Health Sciences: M.B.B.S., M.D., M.S., B.D.S., M.D.S., B.Ayush, M.Ayush, B.Pharma, M.Pharma, Pharma.D, D.Pharma.
- Engineering & Technology: B.E., B.Tech., M.E., M.Tech., B.Arch, M.Arch.
- Management & Law: M.B.A., M.C.A., L.L.B.
- Agriculture & Allied Courses: B.Sc. in Horticulture, Agriculture, Dairy Technology, Forestry, Veterinary, Animal Sciences, Food Technology, Biotechnology, Fisheries, Sericulture, Home/Community Sciences, Food Nutrition & Dietetics.
Application Process
Online Application for Fresh Loan
- Visit the KMDC official website: KMDC Website
- Click on “Apply Online” and enter your mobile number.
- Enter Aadhaar Number, complete the captcha, and click Next.
- Verify the OTP sent to your Aadhaar-linked mobile number.
- Select the scheme “Arivu Education Loan Scheme” and fill in basic details like father’s name, gender, qualification details.
- Enter address details and click Next.
- Upload the required documents (passport-size photo, educational documents, income certificate, etc.).
- Click “Proceed”, then select “Submit Application” to receive an Application ID.
Online Application for Renewal Loan
- Visit the KMDC official website: KMDC Website
- Select “Arivu Education Loan Scheme”, then click “Apply Online”.
- Click “ARIVU Renewal”, enter your mobile number, and Submit.
- Your previous application details (personal, address, and bank details) will be pre-filled.
- Upload the required renewal documents and submit the application.
Documents Required
For Fresh Application
- Recent passport-size photos (2 copies).
- Student’s Caste Certificate.
- Income Certificate.
- Aadhaar Card.
- CET Admission Letter / NEET Admission Letter.
- Student’s SSLC/10th Marks Card Copy.
- PUC/Diploma Marks Card.
- Indemnity Bond (Download from KMDC website).
- College Bank Details.
- Student Bonafide/Study Certificate.
- Self-declaration Form (Student & Parent) (Download from KMDC website).
- College Fee Structure.
For Renewal Loan
- Bonafide/Study Certificate.
- College Fee Structure.
- Previous Year Passed Marks Card.
- College Bank Details.
- Security Deposit Paid Receipt (12% of Loan Amount).
- Copy of KEA Admission Order.
Frequently Asked Questions (FAQs)
- Q: Which courses are covered under the Arivu Education Loan Scheme?
A: The scheme covers medical, engineering, management, law, and agriculture-related professional courses. - Q: What is the loan amount provided under the scheme?
A: Students can receive between ₹50,000/- to ₹5,00,000/- per year, depending on the course duration and tuition fees. - Q: Who is eligible for the scheme?
A: Students from minority communities (Muslims, Christians, Sikhs, Jains, Buddhists, Parsis) who are permanent residents of Karnataka with an annual family income of less than ₹8,00,000/-. - Q: Can students from other states apply for this loan?
A: No, only permanent residents of Karnataka are eligible. - Q: What is the maximum loan amount for M.B.B.S. courses?
A: Up to ₹5,00,000/- per year can be availed under the scheme. - Q: Are there specific loan limits for other courses like M.B.A., M.C.A., or L.L.B.?
A: Yes, loan amounts vary based on course requirements and fees, ranging from ₹50,000/- to ₹5,00,000/- per year. - Q: How is the loan amount disbursed to students?
A: The loan is directly transferred to the student’s college bank account for tuition fee payments. - Q: How can I apply for the scheme?
A: Students can apply online through the KMDC website by submitting the required documents. - Q: Is there a renewal process for the loan each year?
A: Yes, students must renew the loan annually by submitting required documents and paying 12% of the previous year’s loan amount. - Q: Are students pursuing B. Arch and M. Arch courses eligible for the loan?
A: Yes, architecture students are eligible under this scheme. - Q: What are the loan provisions for students in B.Sc. courses related to agriculture, veterinary, or food technology?
A: Students in these fields are eligible and can apply for a loan amount as per their course fee structure. - Q: What if a student fails to renew the loan application on time?
A: If a student does not renew their loan, they will not receive further financial assistance until renewal is completed.