Education loan

Anish (Querist) 16 July 2017 This query is : Resolved
Hi,
I had taken an education loan of around 1.63L which presently stands at 2.09L. I had received the benefit of Central Scheme for Interest Subsidy. I have received around 10K till now as interest subsidy.Still I have not received around 30K which has been claimed by bank.When I approach my bank they say that it takes time for governments to roll out money for such subsidies.They want to start EMI for the full amount i.e 2.09L while I want that only the principal be should be considered for EMI and bank should recover the rest from Government. If Government is not paying should not the bank show cause Government for defaulting rather than just waiting and asking me to pay it up?

My bank just seems least bothered about the money which I can get while it is fully bothered about its money which it lent..My manager just says wait..wait..wait...I have written many a times to bank requesting them to do the needful but nothing happens.What can I do so that I get my subsidies as soon as possible? Which authorities to write or approach ? Kindly guide me on this

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Rajendra K Goyal (Expert) 16 July 2017
Repeated query,

http://www.lawyersclubindia.com/experts/Education-loan-647791.asp

Rajendra K Goyal (Expert) 16 July 2017
How many education loans you have taken?.

In your previous query, you mentioned a loan of 2 lacs which was not paid by you and received notice from Lok Adalat.

In present problem also, you are not paying as full subsidy not received by the Bank

Bank has given you loan and have claimed subsidy, it can only be credited when received from Government.

At least you should pay balance amount with interest ant till than it is possible subsidy would be received.

Government in some of the schemes refuse to release subsidy if account is not regular and it is possible government may hold it in your case on this ground.

Guest (Expert) 16 July 2017
Agree with Mr.RK Goyal...

Guest (Expert) 16 July 2017
How many education loans you have taken please

Guest (Expert) 16 July 2017
Well questioned please

Guest (Expert) 16 July 2017
Agree with Expert.........

Anish (Querist) 16 July 2017
Sorry for posting it the wrong way..actually this loan has been taken by a close relative..he has not yet joined his job and moratorium of 1 year is about to end...so appraoched bank to fix EMIs.. The basic query is how can one get his subsidies asap ..because bank is least bothered.. which authority to write to to or what to do? he last received subsidies in mid 2014..
Request your guidance

P. Venu (Expert) 17 July 2017
I have already made suggestion regarding the first query; same consideration could be relevant in the present case as well.

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