Kerala State Financial Enterprises has planned to Provide Educational Loans

By | August 7, 2011

A recent press report said that Kerala State Financial Enterprises would provide educational loans up to Rs.10 lakh to students belonging to families whose annual income was below Rs One lakh, state Finance Minister Mr. K M Mani said.

Reports said that the loans would be disbursed under the ‘Vidyadhanam’ scheme of the government at 12 percent interest rate. It added saying that four percent of the interest subsidy on the loan would be borne by the government and the student will have to pay only eight percent interests. It also said that educational loans will be offered to other categories at 13.5 percent interest.

Students eligible for the loan would be students of medicine, engineering, management, paramedical, veterinary, agriculture and dental courses. The repayment period for the loan is fixed as five years after the completion of the course. Loans up to Rs.5 lakh would be made available on individual surety.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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