Mega Education Loan Camp Planned in Madurai

Su. Venkatesan, Canara Bank, public and private sector banks, education department officials
Education loan disbursement increased from Rs.108 crore to around Rs.200 crore, Madurai achieved the highest district-level disbursement in Tamil Nadu, a higher target set for the current year
Preventing student dropouts, improving awareness that loans can be obtained from nearby bank branches, informing students that no separate fee is charged for obtaining education loans
Focus on small-ticket education loans, dedicated help cells in schools and colleges, registration through the PM-Vidya Lakshmi portal

The consultation meeting was organised by Canara Bank, the lead bank for Madurai district, in preparation for this year’s mega education loan camp. The meeting, chaired by Madurai MP Su. Venkatesan, focused on expanding access to education finance and achieving a higher disbursement target during the current year.

Officials said Madurai district has recorded consistent progress in education loan disbursement over the past four years. The amount disbursed during the first year was Rs.108 crore, while it increased to around Rs.200 crore last year. The achievement placed Madurai at the top among districts in Tamil Nadu in terms of education loan disbursement, according to the information presented at the meeting.

Banks were asked to set a higher target this year and work towards surpassing last year’s performance. The key objective highlighted at the meeting was to ensure that not a single student is forced to discontinue higher education because of difficulties in paying tuition fees.

Awareness should also be created among students that they are not restricted to obtaining education loans only from a bank branch located within a particular geographical area. Students can approach a nearby bank branch for education loan assistance, according to the guidance issued at the meeting. Banks were also asked to communicate that students do not have to pay a separate fee for obtaining an education loan.

The meeting stressed that banks should not focus only on high-value education loans. They were encouraged to provide small-ticket loans without unnecessary delays according to the educational requirements of students from poor and economically weaker families.

Dedicated help cells were proposed in schools and colleges to identify students proceeding to higher education who require financial assistance. Such students should then be encouraged to register through the Vidya Lakshmi platform so that they can access information and apply for education loans.

Public sector banks performed well and achieved their target last year, while private sector banks were urged to participate with equal commitment this year. Banks were asked to work collectively so that at least Rs.100 crore in education loans can be disbursed on a single day during the upcoming mega education loan camp.

Bank officials were also given a detailed explanation of the application process through the PM-Vidya Lakshmi portal, which is intended to make education loan applications easier for students.

The meeting was attended by Lead Bank Manager Prashanth Naik, District Chief Educational Officer Dayalan, District Collector’s Personal Assistant (General) Parthiban, NABARD District Development Manager Sakthikanth and other government officials.

Officials urged banks and educational institutions to coordinate closely so that eligible students can access timely financial assistance and continue their higher education without interruption.