Govt. to offer low interests on education loans

Bangalore: Government aims to focus more on the development of education in the country by offering education loans at subsidized rate of interest. With the new government initiative, students from economically weaker sections can look forward to pursue their higher education by bearing less financial burden.

Under this new scheme, which is awaiting cabinet approval, students from families with an annual income of less than Rs 4.5 lakh can avail the loan. The loan can be repaid either by one year after the completion of the course or six months after getting a job, whichever is earlier.

Do you think Americans are Workaholics?

	Yes
	No

   View result

According to Rupee Times, it is estimated that under this scheme, a total amount of Rs 4,000 crore will be given to such students as part of the 11th five year plan.

Union HRD Minister Kabil Sibal said, "The government is launching a new scheme on interest subsidy on educational loans taken for professional courses by economically weaker students." In the upcoming union budget, the UPA government is expected to lay more emphasis on education.