How to deal education loan complaints

[gowrishankar.b]

Hi,
I got an loan from canara bank from the year 2004. I am paying the amount but still the loan didn't get decreased. Kindly advise how to close the loan. And the bank did not follow what they given in their website. please assist..

[aao]

Hi Gowri

Though Government is issuing several guidenlines on Educational loans, the fact is that still banks are treating students in a bad manner. In this case you can do the following steps

1. As a primary step meet the branch manager and discuss the matters with him. Try to get his reply in writing, most cases he will not give that.

2. Escalate this to his regional manager, the name, contact details and address will be displayed in the bank premises.

3. If the problem not solves, then go to the HO/ Chairman of the bank, can be contacted at cmdscrt@canbank.co.in

4. The next step is to contact RBI Contact The Chief General Manager, RPCD, Reserve Bank of India, Central Office Building, 10th Floor, Shahid Bhagat Sing Marg, Mumbai 400001 - Phone 022 22610261.

5. For guidance of matters Contact ELTF http://www.eltf.in
email : action2020eltf@gmail.com or info@eltf.in

[shamsudeen]

Rules and regulations are there. But these Banks are still using crooked means to get the poor students money, and they are very ready to write off Vijay Mallyas debts.

[AndersonAngel]

Thanks for the wonderful tips aao. I appreciate your post. I think these are the wonderful ways to deal with education loan complains. Good to read this post.

[shankarthick]

sir, I got a education loan from canara bank 2008 at the amount of 1,64,000. . 2012 i completed my studies UG . this four year to till now i paid the interest amount of 77,000. 3 month wise i paid 4000rps . but stil i have a loan amount of 1,92,000. I approach the bank manager i request them one time settlement amount of 60,000.and also explain my situation my father is nervous problem patient, am also a un employed. but he didnt accept .and told some harsh word.

[Chandramathi HL]

Hi,

Need support from you people.

At the time of taking the loan bank people have informed us that there will be a subsidy at the end if you clear the loan in lump sum amount and if you pay the interest on time. But now they are saying you a sincere payer and we cannot provide any subsidy.

If this is the case we wouldn't have paid the interest amount as the budget as declared to cancel the interest upto 2014 for those who have taken the loan before 2009. We feel we have done a mistake by paying the interest on time sincerely.

This is really a bad news for the sincere interest payers... I have struggled a lot to pay the interest and also now struggling a lot clear the same.

When i contacted branch office for the subsidy they didn't help and asked me to pay the full amount.

When i sent a mail to info@eltf.in for the further guidanace. The person who is using this mail id also didn't provide any kind of information and instead sent a message rudely.

Nobody is providing the proper information from the Canara Bank regarding updates of the loan subsidy.

Really its disgusting and can anyone help me in this.

Regards
Chandu