Education loan waiver announced in interim budget

[ubergeek]

Hi guys,

I read that chidambaram has announced education loan waiver of people with outstanding intrest accumulated til DEC 31 2013. by this i understand that people who have not paid intrest amount on thier loan till 2013 dec 31 will get the accumulated intrest waived by the government. my question is what about the people who have actually paid intrest without fail till dec 31 2013?

 

[ubergeek]

Can some one please explain in detail on this loan waiver

 

[honest1]

http://www.financialexpress.com/news/interest-on-education-loans-before-apr-1-2009-waived/1227028

I dont think there is something for students who has paid the interest. Its only for those who has not paid.

 

[sharktale1212]

And during the study period + 6 mths afterwards not entire loan period.

 

[ubergeek]

And during the study period + 6 mths afterwards not entire loan period.

intrest accumulated from the beginning of 6 months of non payment will be waived by the government is that what youre saying?

 

[sbhas2k]

I am also interested in knowing the implication, I got a loan during 2007 and still needs to pay around 50k. What will be the implication? Will those charges waived off? So far i have paid more than 1.5L as interest.

 

[sharktale1212]

intrest accumulated from the beginning of 6 months of non payment will be waived by the government is that what youre saying?

The interest waiver works in the moratorium period ie interest accumulated during the loan disbursement and 6mths/1yr after course completion.