Karnataka Minorities Development Corporation has always been toiling hard to offer the best and the quality education to minority students and also provide them with as much financial help as they can through scholarships. KDMC has launched a skill development program to train near about 10,000 unemployed graduates who belong to various minority communities from next months i.e. October onwards.
On September 10, 2015 SYM Masood Foujdar, Chairman of KMDC while addressing the medial personnel at the Inspection Bungalow said, “Udupi and Dakshina Kannada are the two districts that have the highest concentration of minority communities so initially the target is to train 1000 youths of each district. These undergraduate unemployed youth will be given training under ‘Develop India’ programme. In the later stage it has also been planned that KDMC will tie up with some of the prestigious educational institutions in the districts so as to provide training. The youth will be given training in the sectors like information technology, biotechnology, banking and insurance.
The other members present at the meeting were District Supervisor of KMDC Sridhar Bhandary, president of District Wakf Board Nakwa Yahya and former President of District Minorities Forum Khatib Abdul Rasheed.
Out of the total students who will be given training under the skill development programme, 70% of them would be offered placements while the remaining 30% will have the option to start their own business ventures for which they will be offered loan by KMDC.
Till date the corporation has sanctioned 4500 applications received from minority students who have applied for engineering courses under the Karnataka common entrance test. 500 applications are under review and will be cleared soon. 140 minority students in Udupi have availed the facilities. Students who will be offered the educational loan will have to start repay the loan amount over a period of three years and repayment has to start six months after the completion of their course.
Last year the 2,135 students who were pursuing professional degree programs were given the subsidised loans. The loan was offered to 145 students in Udupi district.
The budget allocation of Rs 185 crores has been made by the government for the financial year 2015-16. If reports are to be believed then till August 2015, KMDC had spent Rs. 4.03 crore. Mr. Foujdar further added, “KMDC has waived loans to the tune of Rs. 3.58 crore taken by 1,676 beneficiaries. And, loans totalling Rs. 1.38 crore have been recovered in the period from April 2014 to August 2015.”
Even the Delhi govt has launched the Education Loan Scheme on September 9, 2015 in which loan upto Rs. 10 lakh to the students who wish to pursue their higher studies on successful completion of Class 12 will be offered. Moreover the students can pay back the loan over 15 years through easy installments. The rate of interest to be charged is base rate plus 2 percent.
The Government of India on August 15, 2015 launched website for students seeking educational loan named vidyalakshmi.co.in.