Education Loans Easier Now. Complaint Stats Drops!

Education Loans are the base of many students who are not capable to assure the amount of the programme as demanded by the University/Institutions. Hence, the Government had brought up plans where such students can afford for Loans easily. And thus, here is the positive result!

When the statistics of the Reserved Banks were taken into notice it came into light that through RBI (Reserve Bank Of India), students are finding it easier to get education loans. Mr.S.Ganesh, who is a banking marshal in RBI says "There is a decrease in the number of complaints related to educational loans."

According to the report, RBI data shows that the banking marshal received 569 educational loan complaints during 2011-12, 149 complaints lesser than the previous year. In 2009-10, the marshal got 980 such complaints.

Mr.Ganesh also said "If a student whose grievance against a bank is not resolved to his satisfaction by the bank within one month, he/she can approach the banking ombudsman, if the complaint pertains to any of the matters specified in the banking marshal Scheme 2006".

"Better awareness could be the reason for the dip in complaints. We have been conducting various awareness programmes among banks on educational loans. So most of the banks in the state are disbursing educational loans to deserving students". He added.

He further said "We are unable to insist banks provide loans. But we have the right to seek an explanation from them on why a loan was denied. No banks have been exempted from sanctioning educational loans in the country".

However, the sources have revealed that, most of the complaints related to educational loans are not reaching the marshal level.