I am currently a physiotherapy master’s student in UK. I have sanctioned an educational loan for 7. 5
Lacks loan in Indian bank, ethiraj salai branch for my masters in abroad on august (The total cost of study for one year is around 14 lacks – Fees, 9200 GBP & living expenses – 7200 GBP). The loan was released on September 23 rd 08 for 4617 GBP. I paid my full fees prior to the sanction after confirming with the bank staff that I can re - emboss it and I submitted all my receipt in branch before leaving India. (I did this because there was a delay in releasing the loan and already I missed one week class).
But they didn’t give me the full amount sanctioned initially, A.G.M (Mr. Padmakumar) said “”I will release the amount every 3 months you just send us a mail”. When I sent mail in December 08, again with scanned copy of my receipt, Progress letter and all the needed documents, they took nearly two month to release the amount after 5 to 7 mails and almost 10 phone calls, and of all I sent my uncle in India directly to branch to release the amount – 1459 GBP on 11th February 09.
Now the A.G. M is telling you are not eligible for further release Of loan. Finally I mailed A.G. M directly on 24 th march 09 and there was still no reply, called the Loan officer many times but no use, when my uncle went in directly to see A.G.M, he was refused.
How can they refuse to release the already sanctioned amount? That too they are telling after coming
Here (UK), If they told you are not eligible I would have made some alternative. I am helpless now, due to
Credit crunch it’s really difficult to manage here. To extend my post study visa for another two years I have to maintain 800 pounds in my account for 6 months, otherwise they will send me back to India. In this stress I couldn’t concentrate in my studies.
I have gone through a lot and lot of trouble with that branch from the beginning (For my loan process I went directly to branch almost thrice a week for nearly 3 months- because of Mr. Ramasamy, the loan officer, he Will send me back without any cause and asks me to come next day, and finally made fun of me how did you get the visa? I have lost interest in my studies because of these people. They are the worst branch in service, I feel). No student like me should face such a bad situation and suffer in abroad in future.
My University also interferred inbetween and provided support letters, but there is no use. I filed complaint to head office there is no proper response. They said we cant do anything if you want you have to contact AGM, inspite of telling them I already did. when I phoned him, he was just shouting in very high tone not letting me even to speak. The loan was sanctioned in Rupees, now AGM is calculating in pounds. AGM told you paid the full fees only for getting discount, after discount also they have to give me 1614.80 GBP:
Total fees- 10000 GBP
(A1) After 8% discount - 9200 GBP
(A2) Living expenses - 6500 GBP
Total: A1 A2 = 15700 GBP
Student Margin 51.01% = 8008.57 GBP
Bank loan 48.99% = 7691.43 GBP
But the loan given was:
1st term release = 4617 GBP (Dated 23-09)
2nd term release = 1459.63 GBP (Dated 11-2)
Total loan released = 6076.63 GBP.
(B1) AS PER BANK SANCTION 48.99% = 7691.43 GBP
(B2) BUT RELEASED AMOUNT WAS = 6076.63 GBP
LOAN AMOUNT DUE (B1) - (B2) = 1614.80 GBP.
Kindly take an action as early as possible and help me by releasing the remaining amount.
Hope atleast you will help me in getting justice.
Regards:
Karthiyayini.
Glasgow Caledonian University,
United Kingdom.
0 comments