Devaraj Arasu Education Loan For Students in Karnataka

The D. Devaraj Urs Backward Classes Development Corporation administered by the Devaraj Arasu Education Loan Scheme is a financial assistance tool for students pursuing education in India or abroad. The Devaraj Arasu loan helps students from economically weaker sections of society in Karnataka, bridge financial obstacles. Their goal is to support self-employment, skill development, and irrigation infrastructure by offering financial aid in the form of loans and subsidies. From interest-free loans to individual education loan schemes, the Devaraj Arasu loan scheme is filled with surprises for study-abroad aspirants. 

Overview of Devaraj Arasu Education Loan

Broadly, the D Devaraj URS Backward Classes Development Corporation offers three different kinds of education loans to students including, Interest-free Loans for Higher Education in a Foreign University, Arivu Education Loan Scheme and D Devaraj URS Individual Loan Scheme. Before moving forward, let’s take a brief look at the features of the Devaraj Arasu loan. 

Eligibility Criteria of Devaraj Arasu Education Loan

Before applying for a Devaraj Arasu loan, applicants must ensure that they fulfil the below-listed eligibility criteria -

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  The applicant must be between the age group of 18 to 35 years. 
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  The applicant must be an Indian citizen. 
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  The applicant must be admitted to an accredited university in India or abroad. 
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  The applicant must be enrolled in a UGC, AICTE, or other government-approved undergraduate, postgraduate, or diploma course only. 
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  The student must secure admission via the Common Entrance Test (CET) to professional courses only. 
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  The family’s total annual income should not exceed INR 3.5 Lakh. 

Documents Required for Devaraj Arasu Education Loan

When submitting the Devaraj Arasu loan application, applicants have to submit the following documents:

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  Academic documents - Admission letter, Marksheets of 10th and 12th, Degree mark sheets, Admit card for GMAT/ GRE/ IELTS
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  Students KYC documents - Aadhar card, PAN card
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  Student’s parents/guardians KYC documents - Aadhar card, PAN card
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  Student’s parents/guardians income proofs - 

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    If Salaried:

    • 
      3 months of pay slips
    • 
      Employer's ID card
  • 
    If Self-Employed:

    • 
      Business address proof
    • 
      Profit and loss account
    • 
      2 years of Form 16
    • 
      IT return of last two years
• 
  Statement of expenses

How to Apply for the Devaraj Arasu Loan?

Applying for the Devaraj Arasu loan application is a simple 4 step process.

Step 1 - Visit the official website of the D. Devaraj Urs Backward Classes Development Corporation.

Step 2 - Under the ‘Online Services’, click on the ‘Suvidha Section’. 

Step 3 - Register in the ‘Suvidha Section’ and log in with your username and password. 

Step 4 - Choose the education loan schemes that suit your needs and start your application process.

Submit your application online through the Seva Sindhu portal, or submit the required documentation to nearby offices such as Gram-One, Bangalore-One, or Karnataka-One.

Please Note - The application deadline for the academic year 2024-25 was 15 September 2024.

Alternative Education Loan Options For Students in Karnataka

If any applicant finds them not eligible for the Devaraj Arasu education loan then they can apply to other government banks in Karnataka. Below is a compiled overview of the loan schemes offered by multiple public banks. 

The Devaraj Arasu Education Loan is an outstanding initiative by the D. Devaraj Urs Backward Classes Development Corporation that provides much-needed financial assistance to students seeking higher education in India and overseas. This plan assists meritorious students from backward classes bridge the financial gap by providing interest-free loans and flexible repayment choices.

Students who do not fit the eligibility criteria of this scheme should connect with education loan counsellors at GyanDhan as we will assist them in comparing various loan options, ensuring they receive the most appropriate financial help for their studies. Check your eligibility now to apply today!

Frequently Asked Questions