The Kerala State Government has launched the Education Loan Repayment Scheme 2021 in the state to help students repay their education loans. The state government is inviting online registration and claim application forms from students to avail the scheme through its newly launched portal www.elrs.kerala.gov.in.
Students can register online for education loan repayment scheme at elrs.kerala.gov.in and fill the claim application form with necessary documents attached. This scheme can also be called as “Education loan repayment assistance scheme“or”Education loan repayment subsidy scheme“.
The complete procedure to register online as a student for education loan repayment scheme and fill the claim application form is given below.
Kerala education loan repayment scheme online registration
Phase 1: Visit the official website of Kerala Education Loan Repayment Scheme elrs.kerala.gov.in
step 2: Click on “Student registrationFill in the button and registration form as seen below.
step 3: After registration, a user ID and password will be sent to the applicant’s registered mobile number which will be used to fill the online application form.
Download eligibility certificate under student education loan repayment scheme
Go to the official website http://elrs.kerala.gov.in/. On the homepage, click on “Download Certificate of Eligibility – Annex 2 Format here“Contact. Student Education Loan Repayment Scheme Eligibility Certificate will appear as shown below: –
Apply online for education loan repayment claim
On completion of registration, a user ID and password will be sent to the applicant’s registered mobile number. To file a claim application, the applicant has to log in on the homepage of http://elrs.kerala.gov.in/ Enter the following information using the portal and this user ID and password.
Kerala Government Schemes 2021Popular schemes in Kerala:Kerala Ration Card ListKerala KFE Laptop SchemeKerala Voter List / ID Card Download
- Full permanent address of the applicant
- Name of parent / spouse / guardian
- Co-borrower details (in case of student’s death or suffering from 80% or more disability)
- Details of vocational course studied (for which education loan was taken)
- Whether management and NRI quota
- Course completion date
- Student grade
- Details of the bank from which the loan was taken
- Details of loan taken
- Amount Paid (Interest subvention will not be considered as repayment for this scheme)
- Current Family Annual Income
- Current Employment Details of the student (not applicable to 80% or more of the deceased student / student with disability)
- Present annual income of the student (not applicable to deceased student / student with 80% or more disability)
- Date of disability / death in case of a deceased student with 80% or more disability
- Details of relief received under any other scheme (if any)
- Selection of government assistance category
In case of forgetting the User ID / Password, click on the link- http://elrs.kerala.gov.in/index.php/home/forgot_password
List of required documents
The applicant is required to upload copies (in PDF format) of the following certificates.
i) At the time of registration
1) Copy of 10th pass certificate of the student,
2) Copy of Aadhaar of the student (in case of 80% or more disability of the deceased / victim of the student, of the co-borrower)
3) Income tax PAN of the student (in case of student deceased / victim 80% or more disability, of co-borrower)
ii) Time at the time of filing the application
1) Eligibility certificate issued by the village officer and countersigned by the gazetted officer. (Can be downloaded from the format portal)
2) Death certificate issued by the death registrar of the concerned local body (in case of deceased student)
3) Disability certificate by the competent authority prescribed in the Persons with Disabilities Act 1995 (in case of a student borrower suffering from permanent physical / mental disability of 40% or more)
4) Course completion certificate related to the course for which the education loan was taken). (If the student has discontinued the course due to medical or other valid reasons, a certificate from the head of the institute, stating the reason for the closure)
5) Salary certificate in the case of a student working in the formal sector (not applicable to the deceased /% or more disabled student)
After filling the mandatory fields and uploading the certificate, a registration form has to be submitted. After filling all the fields and uploading the certificates, the applications can be submitted online in the portal
Kerala education loan repayment plan deadline extended
The last date for submission of online application for Kerala Education Loan Repayment Scheme has been extended by the state government. The new deadline for the scheme is 31 December. Earlier, the last date for submission of application and claim form for the scheme was 31 October.
Online registration for Kerala Education Loan Repayment Scheme is being invited through the official website of the scheme www.elrs.kerala.gov.in. All eligible students can register themselves on the portal and submit an application to claim their education loan repayment. The state government has also added the option to edit the application form after submission in the website. Students can also edit their matriculation details after submission.
Under this scheme, the state government is repaying the education loan of the students whose annual household income does not exceed 6 lakhs per year. However, only those students who have taken loans up to Rs. 9 lakhs will be benefitted under the scheme. The total budget of the scheme is Rs. 900 crores.
- The student must be a permanent permanent resident of Kerala
- KYC records must match the records provided with the bank
- Only those education loans from a branch located in Kerala, a Scheduled Commercial Bank, Kerala Gramin Bank, Kerala State Cooperative Bank, KSCARD Bank or any one of the 14 District Cooperative Banks in the state are covered under the scheme.
- Students getting admission under Management seats / Management quota / NRI quota are not eligible. Management seats / management quota refers to seats in private educational institutions, for which management has discretion to grant admission on factors other than eligibility as per IBA’s “Model Educational Loans for Furthering Higher Education in India and Overseas The revised guidance notes on the plan “.
- However, students seeking admission under management quota / management seat for nursing courses are also eligible.
- Loan taken for study abroad is not eligible
- Income Tax Permanent Account Number (PAN) for student borrower (for co-borrower, in case of deceased student) is a pre-requisite for registration.
- The current annual gross family / parent income upper limit for deceased students is Rs 9 lakh, and for students with a disability of 40% or more, and 6 lakh for all other categories.
- Apart from the above, the current annual income of the student should be within 4 times of the annual repayment amount stipulated in the loan
- Student borrower who is permanently mentally / physically disabled with 80% or more disability due to accident / illness or expires during loan study / term after taking loan, date of loan and approved Will be eligible for financial assistance irrespective of the amount. And classification of loan accounts.
Classification of approved education loans to students in Kerala
Under the Kerala Education Loan Repayment Scheme 2021 scheme, the education loan sanctioned to the students is classified into two categories, namely:
1. Education Loan Non-NPA / Standard Account
2. Education loan changed to NPA account on or before March 31, 2020
The annual repayment amount (principal and interest) will be shared between the government and the borrower in a specified ratio during the 4-year relief period for the first category. In the case of the second category, the government will assist the borrower in settling and closing the loan account by paying the specified amount according to eligibility.
Out of the total loan repayment amount eligible under the scheme, the state government will bear 60% while the remaining 40% will have to be borne by the students themselves. Families whose annual household income is more than 6 lakhs are not eligible to apply for this scheme.
Kerala education loan repayment scheme launched
The Kerala State Government has launched an “Education Loan Repayment Scheme” with an aim to reduce the financial burden on low-income families. Rupee. The Rs 900 crore scheme will benefit those students who have taken loans up to Rs. 9 lakhs and whose annual household income does not exceed Rs. 6 lakhs.
The scheme aims to help the financially weak students who did not get jobs after studies and are unable to repay their education loans. The state government can extend the scheme by giving more funds in future. The current budget for the plan was determined based on preliminary data collected. The government will later conduct a detailed survey to help all those students who are in real need of the scheme.
Kerala ELRS Operational Guidelines
Detailed guidelines of Kerala Education Loan Repayment Scheme can be downloaded from the official website elrs.kerala.gov.in. People can also download Certificate of eligibility – Annex 2 format.
Education loan repayment scheme of Kerala government will benefit those whose total household income does not exceed Rs. 6 lakhs per year and has not availed more than Rs. 9 lakhs in education loan. Under this scheme, 60% of the loan repayment amount will be borne by the state government while the remaining 40% will have to be borne by the student himself.
To avail repayment from the bank, banks will have to waive interest and punitive interest on the loan.
Salient Features of Kerala Education Loan Repayment Scheme
- The scheme will be applicable to loans whose repayment started before April 1, 2020.
- The government will bear 90 percent of the amount paid in the first year and 75 percent in the second year.
- 50 percent of the amount repayable in the third year and 25 percent in the fourth year will be borne by the government.
- For loans up to Rs 4 lakh which were treated as non-performing assets before March 31, 2020, the government will bear 60 per cent of the principal amount. The remaining 40 percent will have to be borne by the debtor.
- Loans between 4 lakh rupees to 9 lakh rupees which have become NPAs, the state government will bear 50 percent of the principal amount, which is a maximum of Rs 2.4 lakhs.
For any query regarding the scheme, interested candidates can contact on the contact details given below
E-mail – [email protected]
Contact Number – 0471-2517187 (All working days)
Or travel Contact page On the official website.
ELRS Grievance Redressal Committee Guidelines – http://elrs.kerala.gov.in/circular/elrs_greivence_redressal_committee_guidelines.pdf