Now students can apply for educational loan online in tamilnadu

In order to prevent fraud, the new order has been instated yesterday stating that student can now apply for their educational loan online, after starting a bank account in their name. This facility has for now, been declared only for higher secondary school students who are in need of educational loan to pursue their higher studies.

The government of TAMILNADU has been providing educational loan to qualified students from communities like ADIDRAVIDAR, PAZHANKUDIYINAR, through their respective schools and school authorities. In such case, when this loan was provided through the head teaching staff, cases of fraud have been reported. Earlier in 2010, in NAMAKAL, 77 head of department teachers have been dismissed for laying out fake signature of students and availing educational loan worth lakhs in fraud.

To avoid such instances of fraud, last year the government issued an order to create bank account in the name of the student who is availing the educational loan. Even in such cases, the government has gone a step further to ensure that there is no fraud taking place, and has ordered that, the student who is availing the loan should now apply online for it.

An educational has quoted that, “The educational loan facility is provided for the welfare of the students from ADIDRAVIDAR and SCHEDULED CASTES communities. To ensure that the students avail this facility completely, a bank account was created for them by the order of the government. In continuation of that cause, now the government has ordered that 11th, 12th and higher studies pursuing students who are willing to apply for an educational loan, should now apply online through their respective head teaching staffs.

This facility will come into action, in the ongoing financial year after a joint consent of the higher authorities and educational authorities, as per the order. For this, special instructions and training programs for the teaching staffs and also a secret identification number has been given for the concerned educational institutions and schools”.

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