WSDS extends education loan
Source: The Sangai Express
Imphal, March 03 2014 :
After the Weaker Section Development Society (WSDS), a partner of KIVA, has provided Charmy's education loan to 160 students of eight schools, education loans have been extended to five students for undergoing aviation training course.
The loan amounts were handed over to the beneficiary students at a function held today at WSDS head-office, New Lambulane.
Speaking to media persons ahead of distributing the loan amounts, WSDS chief executive officer Lamkhomang Kipgen said that 160 students belonging to low income groups were provided education loans with their respective schools as guarantors.
The education loan was not in the form of cash but in the form of admission fee, tuition fee, uniforms and text books required for the academic year.
The amount thus spent would be collected by the schools within a specific period with minimal interests and the total amount would be paid to WSDS.
This loan system can effectively remove the burden of paying big sums of money at one time.
Apart from this education loan, WSDS has extended a loan of Rs 5 lakh each in the form of cheques to five girls who wish to under civil aviation training.
The girls would undergo civil aviation training course with Jet Airways for a period of three months.
The same benefit would be extended to young students who wish to for nursing, engineering, medicine and other professional courses, said the CEO.
The loan amounts thus given should be repaid with interest of 2 per cent per month over a period of 15 months.
No interest would be charged for the first three months.
Students of all communities can avail this loan facility, CEO Lamkhomang Kipgen added.