HC restricts educational loan to Elite

Updated on: Friday, March 20, 2009

Educational loan absolutely meant for the poor and meritorious, High court ruling.

Students obtained average marks in their qualifying examination and can afford to pay tuition fees cannot force banks to disburse educational loans, the Madras High Court ruled.

As per the ruling, Justice S. Manikumar said,'The beneficial scheme should reach the poor and meritorious students.'while dismissing the writ petition filed by an aeronautical engineering student at Madurai Court.

The Judge said the grant of loan couldn’t be claimed as matter of right when the candidate had scored only 70 per cent marks in the qualifying examinations and the joint income of the parents were over Rs.30, 000 per month.
' The realistic objective of the scheme would be lost, if this is allowed,' he said. 

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