The Arivu Education Loan Scheme is a welfare initiative that is taken by the Government of Karnataka to support students who belong to minority and economically weaker sections in pursuing higher education.
With the help of this scheme, eligible students can get loans at low interest rates for their professional and technical courses. The scheme aims to reduce the burden of educational expenses by making education more affordable and accessible. Also, the scheme promotes equal opportunities and empowers students to build successful careers.
Eligibility Criteria
In order to qualify for the scheme, applicants must meet the following eligibility criteria:
- Candidate must be a permanent resident of Karnataka.
- The candidate must belong to the State Religious Minority Community.
- The annual income of the family should not be more than Rs.8,00,000.
Courses Covered and Loan Amount Details
The following professional and academic courses are covered under the Scheme:
Category | Courses | Loan Amount |
Agricultural & Allied Sciences | B.Sc. Agriculture / Biotechnology / Dairy Technology / Food Technology / Forestry / Horticulture / Sericulture / Veterinary & Animal Sciences / Fisheries / Home & Community Sciences / Food Nutrition & Dietetics | Up to Rs.50,000 per year |
Engineering & Architecture | B.Arch / B.E. / B.Tech / M.Arch / M.E. / M.Tech | Up to Rs.50,000 per year |
Medical & Dental Sciences | B.Ayush / M.Ayush / B.D.S. / M.D.S. / M.B.B.S. / M.D. / M.S. | Rs.50,000 to Rs.5,00,000 (depending on course) |
Pharmacy | B.Pharma / M.Pharma / Pharma.D / D.Pharma | Up to Rs.50,000 per year |
Professional & Post-Graduate Courses | L.L.B. / M.B.A. / M.C.A. | Up to Rs.50,000 per year |
How to Apply for the Arivu Education Loan Scheme Online
By following the steps given below, you can easily apply for the scheme online:
Step 1: Go to the official website of Karnataka Minorities Development Corporation.
Step 2: Click on the option ‘Apply Online’.
Step 3: Enter your mobile number and click on ‘Submit’.
Step 4: On the next page, fill in Aadhaar Number, captcha code and select ‘Next’.
Step 5: You will receive an OTP on your Aadhaar-linked mobile number.
Step 6: Fill in the OTP to verify your Aadhaar details.
Step 7: After verifying, you will be again asked to enter another OTP.
Step 8: On the next page, select the ‘Sikhligar’s Community Development Scheme’.
Step 9: Fill in your basic and personal details.
Step 10: Upload the required documents and click on ‘Proceed’.
Step 11: Submit your appliction and you will get an Application ID for future reference.
Documents Required for Arivu Education Loan Scheme
In order to apply for the scheme, you will require the mentioned below documents:
- Recently clicked two passport-sized photographs
- Caste Certificate
- Income Certificate
- CET Admission Letter
- NEET Admission Letter
- Copy of SSLC / 10th Marksheet
- Copy of PUC / Diploma Marksheet
- Indemnity Bond
- Student’s College bank account details
- Bonafide / Study Certificate from the institution
- Student Self-Declaration Form
- Parent/Guardian Self-Declaration Form
- College Fee Structure document
How to Renew Loan under Arivu Education Loan Scheme?
If you wish to continue receiving financial assistance under the scheme, then you can renew your loan by following the steps given below:
Step 1: Visit the official website of Karnataka Minorities Development Corporation.
Step 2: Click on the option ‘Arivu Education Loan Scheme’.
Step 3: Click on ‘Apply Online’, and then select the option ‘ARIVU.Renewal’.
Step 4: Fill in your mobile number and other details.
Step 5: After filling in the application, upload the required documents.
Step 6: Click on ‘Submit’.
FAQs on Arivu Education Loan Scheme
- What are the documents required for the renewal of the Arivu Education Loan?
You will need a Bonafide Certificate, marksheet of the previous year, college fee structure, students' bank details of college, receipt of security deposit (12% of loan amount), and a copy of KEA admission order.
- How much loan amount can I get under the Arivu Education Loan Scheme?
You can get up loan amount from Rs.50,000 to Rs.5,00,000 every year until the course duration.
- Can I apply for the Arivu Education Loan Scheme online?
Yes, you can apply for the scheme online by visiting the official website of Karnataka Minorities Development Corporation.
- Can I apply for the scheme if I am not a resident of Karnataka?
No, you must be a permanent resident of Karnataka and belong to the State’s Religious Minority Community in order to apply for the scheme.
- Is there any service charge for loan repayment under the Arivu Education Loan?
Yes, there is a service charge of 2%. Repayment begins after a 6-month grace period from completion of the course.
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