Arivu Education Loan Scheme: The Arivu Education Loan Scheme is an initiative of the Karnataka Minorities Development Corporation (KMDC). Under this scheme, Karnataka students can avail of an education loan of up to Rs.3,00,000/- for technical education courses at a nominal interest rate of 2% per annum.
This scheme is open to students from Karnataka’s religious minority communities, including Muslims, Jains, Sikhs, Christians, Buddhists, and Parsis. Eligibility is limited to students selected for MBBS, BDS, Ayush, Bachelor of Architecture, Bachelor of Engineering, or Bachelor of Technology courses through the Karnataka Examination Authority (CET/NEET) for government or private colleges under the government quota.
Arivu Education Loan Scheme: Overview
| Scheme Name | Arivu Education Loan Scheme |
| Launched by | Karnataka Minorities Development Corporation Limited (KMDC) |
| Loan Amount | Rs.50,000 to 300,000 per year |
| Purpose | To provide educational loans for professional courses |
| Benefits | Providing loans to students who want to pursue education |
| Mood of Apply | Online |
| Official Website | kmdc.karnataka.gov.in |
Objective of the Arivu Education Loan Scheme
The main goal of this project is to promote education among religious minorities in Karnataka. It encourages students to choose any professional course for themselves without any obstacles. The Karnataka ARIVU Education Loan Scheme will provide hope for financially weak students who are unable to afford quality education. Applications for the ARIVU Education Loan Scheme 2024 are now being accepted through the Karnataka Minorities Development Corporation. To enable students from the state’s religious minorities to pursue professional courses, this initiative provides them with loans at a reduced annual interest rate of 2%.
Who can apply?
Candidates for the Arivu Education Loan Scheme must meet the following criteria:
The candidate must be a permanent resident of Karnataka.
The applicant must practise a minority religion such as Parsi, Buddhism, Sikhism, Christianity, Islam, or Judaism.
The applicant’s family’s annual income must be less than 2.5 lakh rupees.
KMDC’s Arivu Education Loan Scheme is open to minority community students who have also applied for CET and NEET.
Courses Covered
The scheme covers students pursuing professional degrees such as:
Engineering & Technology: B.E, B.Tech, M.E, M.Tech, B.Arch, M.Arch.
Medical & Health Sciences: M.B.B.S, M.D, M.S, B.D.S, M.D.S, B.Ayush, B.Pharma, M.Pharma, Pharma.D, D.Pharma.
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, Food Nutrition & Dietetics.
How to Apply Online
Visit the official website kmdconline.karnataka.gov.in
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, and qualification details.
Enter proof of residence and upload all required documents.
Then, proceed and select ‘Submit Application’ to receive an application ID.
Benefits of the Scheme
The benefits of the Arivu Education Loan Scheme include the following:
Students from Karnataka are eligible for education loans of up to 3 lakh rupees per year for higher education expenses.
The annual interest rate for the Arivu Education Loan is 2%.
If students wish to renew their loan, they must visit their district office, and the company requires them to pay 12% of the loan amount provided in the previous year.
Additionally, within one year of obtaining their degree, students must start repaying their loans.