Mangalore: Educare Trust Distributes Interest-Free Loans to 575 Students

Pics byAshritha D’souza
Bellevision Media Network

Mangalore, Aug 26 : Bishop Dr Aloysius Paul D’Souza inaugurated Educare loan disbursement scheme by distributing cheques to needy students during the programme held at CODP – ISD auditorium, here on Monday August 26.

 

 

CODP former director Fr Onil D’Souza, Fr Valerian D’Souza, MCC Bank general manager Joseph Quadras, branch manager Michael D’Souza was present on the dais.

 

The Educare fund was set up through CODP by a NRI entrepreneur from UAE who has requested to keep his name confidential. Through this fund, interest free loans will be provided to students, so that they fulfill their educational needs.

 

CODP director Fr Oswald Monteiro, in his welcome address said, ‘With the aim of helping needy students of our community, an NRI entrepreneur has come forward to help them by setting up EDUCARE Trust.’ He is spending his income for the sake of students to meet their educational needs without any publicity.

 

Fr Oswald further said, ‘This year we received 637 applicants out of which 575 students were selected by the panel after interviews, deliberation and thorough research. A sum of Rs 1,80,15,550 will be distributed to these students as interest free loans which has to be repaid after completion of their studies. The scheme is a continuous process and will benefit students every year,’ said Fr Oswald.

 

Lauding the NRI entrepreneur for his noble deed of spending his wealth on students’ education, Fr Oswald urged the students to excel in their studies and take up good government posts, urged Fr Oswald.

 

Bishop Dr Aloysius Paul D’Souza in his address said: ‘God has sent a messenger in the form of a NRI entrepreneur (donor) to help needy students. The anonymous donor is willing to spend a sum of Rs 25 crore through this fund, which no one has done in the community till date,’ lauded Bishop Dr Aloysius.

 

‘We were helping students who were financially backward but not to a large extent, but this year through this NRI Donor, the facility can be provided to a large number of students, said Bishop Dr Aloysius wishing students good luck in achieving all their dreams.

 

Bishop Dr Aloysius also urged the students to repay the loans sincerely, so that other students may avail the scheme and may be benefitted from it, urged Bishop Dr Aloysius.

 

Speaking on the occasion, Fr Valerian D’Souza said, ‘The NRI donor first visited him and expressed his willingness to share his wealth with the needy students. The money given by the donor is a part of his hard earned money through working 16 to 18 hours a day, said Fr Valerian.  

 

Fr Valerian on behalf of the donor advised the students to prove and show their excellence in their studies and also wants them to be sincere in repaying back the help received and pave the way for others to take the benefit from this scheme. He also urged the students to make use of the good opportunity provided also to pray for the donor and his family.