No increase of laptop loans for uni students due to defaulters
View(s):The Higher Education Ministry is facing a dilemma over increasing the interest-free loan amount granted to university students to buy laptops, as some have defaulted on payments.
According to a senior ministry official, some students who have taken the loan previously had not made due payments.
Therefore, officials are skeptical of increasing the loan amount, even though they had planned to increase the loan amount considering the increased prices of laptops.
The ministry has published the laptop purchasing process at the prevailing interest free loan of Rs 75,000. The designated IT service providers, their laptop offers, and specifications will be announced to state university students.
A maximum all inclusive price of the laptop will be Rs75,000, while the laptop must be covered by three (3) years comprehensive warranty, have a Windows/Linux operating system installed with an anti-virus software.
Students can visit the nearest branch of the IT service provider (vendor) and select a laptop brand/model and get a proforma invoice.
The maximum loan amount will be Rs 75,000 to be repaid in 36 interest-free installments starting from the month after purchasing the laptop.
The Student Administration Office of the university will issue a recommendation letter to the bank/branch with necessary documents.
The student has to submit a letter from the university, application form, national identity card, student record book and any other documents requested by the bank. The student also has to produce another student as a guarantor.
After the necessary procedures, the bank will issue a cheque to the IT service provider so they could issue the laptop to the student.
(KW)
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