Government of Karnataka has come up with a subsidy scheme to help meritorious, poor and needy students to pursue higher education in professional courses in the state. The rising course fee for professional courses discouraged many poor students to give up the dream of pursuing their dream courses. To support these students government has come up with a low interest Education Loan at just 6% per annum. The rest of the interest will be bared by the government.
Government has asked all nationalized banks to sanction Education loan to the students who have secured rank in CET and selected seat in counseling. The maximum amount of loan is limited to 5 Lakhs for whole course. Students need to submit the quotation (Cost of course) signed by the Principal of the college where they selected seat. More Details regarding educational loans at 6% through government subsidy scheme can be found here.