Mangalore: Educare Trust to provide interest-free loan facility to needy students

Daijiworld Media Network – Mangalore

Mangalore, May 25: The dream of meritorious students from financially poor families who wish to take up higher studies will now be fulfilled through the efforts of an NRI philanthropist from Mangalore, who has chosen not to disclose his name.

For this purpose, he has set up a trust called Educare in Mangalore with a view of helping needy students from Mangalorean community by contributing a large share of his income.

File photos of CODP programmes

The scheme by the NRI, in collaboration with CODP, is a compulsorily refundable interest-free loan which is to be repaid within one year after completion of studies. The selection process of deserving students will be done by a team of CODP and Educare trust members.

Speaking to Daijiworld, Fr Onil D’Souza, director of CODP said, "Around Rs 1.5 crore will be distributed to 408 deserving students from Mangalore and Udupi diocese through the contribution by Educare represented by an NRI Catholic philanthropist of Mangalore who has asked not to disclose his name."

The funds allotted are for the following courses:

Engineering – 90 students will get Rs 50,000 each, altogether Rs 45 lac.

Medical – 12 students will get Rs 1 lac each, altogether Rs 12 lac

Paramedical – 21 students will get Rs 50,000 each, altogether Rs 10.5 lac

MBA, MCA, MA, LLM, journalism – 60 students will Rs 50,000 each, altogether Rs 30 lac

Bed, BSc Nursing – 75 students will get Rs 30,000 each, altogether Rs 22.50 lac

Graduation, BA, BCom, BCA, BBM, LLB, Diploma – 150 students will get Rs 20,000 each, altogether Rs 30 lac

Fr Onil further said merit students from poor families whose income is below Rs 2 lac per annum can apply for this facility. Meanwhile, priority will be given for orphans and to those students whose families are affected by tragedies and life-threatening diseases.

"Once the applications are received, interview of the students who have applied will be taken in order to make sure that they are deserving candidates. The final list of students will be forwarded to Educare trust which will then disburse the funds to the students," added Fr Onil.

Applications are available with parish priests or CODP.  Last date to submit the application is June 30, 2013 for degree students and July 31, 2013 for other courses.

Applications are to be sent to CODP, Kadri Hills, Nanthoor, Bejai Post, Mangalore – 575 004.