Find out about the Arivu Education Loan Scheme 2024 from the Karnataka government. Learn who can apply, how much you can borrow, and how to apply online. Get up to ₹3 lakh for your education. Apply by July 10, 2024
About Arivu Education Loan Scheme
The Arivu Education Loan Scheme is managed by the Karnataka Minorities Development Corporation (KMDC). This scheme offers Karnataka students an education loan with a minimal annual interest rate of 2%, up to ₹3 lakh for technical education courses.
Eligible students include those from Karnataka’s religious minority communities—Muslims, Jains, Sikhs, Christians, Buddhists, and Parsis—who are accepted into various government or private colleges through Karnataka Examination Authority (CET/NEET) for courses like MBBS, BDS, Ayush, and engineering programs.
Recent Update
The application portal is now live. Students can renew their loans through the KMDCL Online Application Management System. The last date to apply is July 10, 2024. Visit kmdconline.karnataka.gov.in to apply.
Guidelines for Application
- Apply online at the KMDC Arivu loan website.
- For renewal, pay 12% of the previous year’s loan amount at your local district office.
- Ensure family income does not exceed ₹8 lakh annually, and verify minority status with a certificate from the Tahsildar.
- Loan money will be transferred via Direct Benefit Transfer (DBT) to the college’s bank account.
- Maximum loan amounts depend on the course.
Maximum Loan Amounts
| Course | Amount (INR) |
|---|---|
| MBBS, MD, MS | 3,00,000 |
| BDS, MDS | 1,00,000 |
| B.Arch, BE, B.Tech, M.Tech, M.E., M.Arch | 50,000 |
| MCA, LLB, MBA (via KEA) | 50,000 |
| Various B.Sc. programs | 50,000 |
| B.Pharma, M.Pharma, Pharma.D, D.Pharma | 50,000 |
| Ayush B. and M.Ayush | 50,000 |
- Students must start repayment within one year of completing their course.
Eligibility Criteria
- Indian citizens and Karnataka residents.
- Members of State Religious Minority Community.
- Completed Class 12 or graduation.
- Family income up to ₹8 lakh annually.
- No collateral, guarantees, or margin money required.
See also: How to Write a Winning Letter of Intent for a Scholarship
Qualifying Courses
- Medical: MBBS, BDS, Ayush
- Engineering: BE, B.Tech, B.Arch
- Management: MBA, MCA, LLB
- Science: Various B.Sc. programs
- Pharmacy: B.Pharma, M.Pharma, Pharma.D
- Others: M.Tech, M.E., M.Arch
Required Documents
- Caste certificate
- Income certificate
- Aadhaar card
- Passport-sized photos
- Online application
- Admission letter for CET/NEET
- Class 10 and pre-university mark sheets
- Indemnity bond
- College bank account details
- School certificate
- Student and parent self-declaration forms
- College tuition fees receipt
How to Apply Online Application
- Go to kmdconline.karnataka.gov.in.
- Select “Arivu Education Loan Scheme.”
- Click “Apply Online.”
- Choose “Apply New.”
- Enter OTP, phone number, and captcha text.
- Complete the application form with all necessary details.
- Save and download the application form.
- Attach relevant documents.
- Submit the hardcopy to the KMDC office.
Arivu Loan Sanction Process
- The selection panel reviews applications.
- Eligible students are selected and the loan amount is transferred directly to the college.
- Students can check their loan status online through the Karnataka Arivu Education Loan Scheme’s Application Status.
Renewal Process
- To renew, visit your district office and pay 12% of the previous year’s loan amount.
Helpdesk
Karnataka Minorities Development Corporation
- Phone: 8277799990
- Email: mwdhelpline@karnataka.gov.in