Team  SoOLEGAL

Karnataka HC Issues Notice to the Government seeking benefit of education loan moratorium scheme for all students

Team SoOLEGAL 21 Aug 2020 4:20pm

Karnataka HC Issues Notice to the Government seeking benefit of education loan moratorium scheme for all students

In light of the COVID-19 pandemic, the High Court of Karnataka issued a notice in the Public Interest Litigation (PIL) seeking directionsto the Union and state governmentsto extend the moratorium schemeon educational loans to all categories of students for repayment of educational loans in the state, without any exception

It is claimed that, in 2009, the Government of India launched the Central Sector Interest Subsidy Scheme (CSIS) to ensure that no one is deprived of the opportunity to pursue higher education due to lack of funding. In addition, under the scheme, the interest payable during the moratorium period would be payable by the government in case of students belonging to economically weaker sections. The scheme is currently applicable to all persons whose parents have an annual income of less than 4.5 lakh per year.

The plea has stated that the economic growth of the country has been adversely affected by unfortunate financial constrains in the COVID-19 pandemic and that even the student community has been severely affected. Also that during the moratorium period, CSIS provides full interest subsidies on modern education loans without any collateral or guarantee from third parties.

However, the Division Bench of Chief Justice AbhayShreeniwas Oka and Justice Ashok S Kinagi have refused to consider two other prayers, made in the petition filed by Dr. Ram Manohar Lohiya Thinker Forum, Bengaluru, seeking directions to the Union and State governments to either waive outstanding education loans with effect from March 1, 2020 or waive the interest amount on all education loans for two years.

The matter will be heard next on 4 September.



Tagged: Karnataka HC   education loan   moratorium scheme   students   COVID-19 pandemic   Public Interest Litigation   Central Sector Interest Subsidy Scheme (CSIS)   Chief Justice AbhayShreeniwas Oka   Justice Ashok S Kinagi   Dr. Ram Manohar Lohiya Thinker Forum   Bengaluru  
Did you find this write up useful? YES 4 NO 0
Dr KB Vijayakumar PhD   23 Aug 2020 11:54am
Everybody wants free rides. The issue is educational loans. Students are still studying or may have just joined in some job. Covid attacks. Last 5 months may be there was no activity or job or no salary. Waive off Loans??? Pathetic disgusting argument. You want time, ask for time. For a five month disruption you want the whole loan to be waived or interest to be waived is nothing less than disguised fraud or taking advantage of the situation to extract benefits. Asking for moratorum on interest may be to a certain extent justified. And that too only for those who have completed their degree and are either on the look out for jobs or for those who are already working. Not for everybody. Does not matter to those who are still studying.
Reply
Dr KB Vijayakumar PhD   23 Aug 2020 11:54am
Everybody wants free rides. The issue is educational loans. Students are still studying or may have just joined in some job. Covid attacks. Last 5 months may be there was no activity or job or no salary. Waive off Loans??? Pathetic disgusting argument. You want time, ask for time. For a five month disruption you want the whole loan to be waived or interest to be waived is nothing less than disguised fraud or taking advantage of the situation to extract benefits. Asking for moratorum on interest may be to a certain extent justified. And that too only for those who have completed their degree and are either on the look out for jobs or for those who are already working. Not for everybody. Does not matter to those who are still studying.
Reply
Featured Members view all

×

C2RMTo Know More

Something Awesome Is In The Work

0

DAYS

0

HOURS

0

MINUTES

0

SECONDS

Sign-up and we will notify you of our launch.
We’ll also give some discount for your effort :)

* We won’t use your email for spam, just to notify you of our launch.
×

SAARTHTo Know More

Launching Soon : SAARTH, your complete client, case, practise & document management SAAS application with direct client chat feature.

If you want to know more give us a Call at :+91 98109 29455 or Mail info@soolegal.com