“When students learn from their own money, they learn with seriousness and dedication, which is not there if their parents pay for their education,” said SDM Law College Principal B K Ravindra.

Inaugurating the Educational Loan Mela on Monday, Dr Ravindra said that at present there is indeed a great need for educational loans as financial support is required to gain quality education in higher studies.

He requested the students to treat the loan amount as an obligation and promptly repay the amount after they secure education, so that the funds could be used to provide education to some other economically backward students.

Speaking about the Education Loan Camp, Mr Eshwar Bhat from Syndicate Bank said that several students committed suicide due to dearth of funds to persue their higher education. With the view of protecting the students from taking such extreme steps, the bank has started the initiative to loan mela.

He said that over seven banks such as Syndicate Bank, which is the lead bank, Corporation Bank, Canara Bank, Karnataka Bank, Vijaya Bank, State Bank of India and State Bank of Mysore had collaboratively held the camp as per the guideline of Finance Ministry.

Mr Bhat said that to avail the facility, the student must be a meritorius student, he/she must visit the bank in the place of his/her permanent address.

Delivering the presidential address, Syndicate Bank Depty General Manager K U Shanbag said that it is for the first time that such an effort is being made and this move is not being taken up with any profit motive. It only aims at providing financial security to students who often do not pursue their higher education due to lack of finance.

Mr Shanbag said that moving forward after this, the banks will hold ‘financial inclusion’ schemes as the government and Reserve Bank of India has said that all familes must possess bank account and must utilise banking facilities.

He quoted a survey conducted in this region which showed that every family had more than one account.

Response

District Lead Bank officer Uday Kumar Holla said that on the first day of the two day camp, 220 students were counselled, 87 applications were received for which Rs 1.55 crore will be sanctioned.