Sad Saga of student loans-25 Sep 2007
Please find enclosed the fate of students hoping to find loans for studies out of the country.
The whole thing is a farce it looks like.
The only part of the complaint that was resolved was-which should not have happened in the first place- payment of interest on a monthly basis for the deposits. Even that we have to wait for 3 months before we can find out if it will be paid on a quarterly basis as promised.
For the rest the whole process was wasted effort it appears and we as a nation are flattering ourselves that banks loans are available for the asking.
I request you to direct the RACPC to refund the 5000 rupees We deposited in view of the fact that the loan could not be availed for the reasons set out in the letter, and the lien on our deposits lifted with immediate effect.
The amount if generously refunded could be reverted to our SBI account.
The whole thing is a farce it looks like.
The only part of the complaint that was resolved was-which should not have happened in the first place- payment of interest on a monthly basis for the deposits. Even that we have to wait for 3 months before we can find out if it will be paid on a quarterly basis as promised.
For the rest the whole process was wasted effort it appears and we as a nation are flattering ourselves that banks loans are available for the asking.
I request you to direct the RACPC to refund the 5000 rupees We deposited in view of the fact that the loan could not be availed for the reasons set out in the letter, and the lien on our deposits lifted with immediate effect.
The amount if generously refunded could be reverted to our SBI account.
posted by m b nataraj | 8:07 AM
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