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India plans to set up finance corporation for study loans

Friday, 05 March 2010, 21:45 Hrs

New Delhi: India plans to set up a National Education Finance Corporation (NEFC) to provide loans for educational infrastructure expansion and re-finance study loans to needy students who otherwise fail to pursue higher education.

"A proposal for the establishment of National Education Finance Corporation is under consideration, which aims at providing loans for infrastructure development and expansion of educational institutions, as well as re-finance facility for educational students loans," Human Resource Development Minister Kapil Sibal said in the Rajya Sabha.

India plans to set up finance corporation for study loans

Once it is established, thousands of students who fail to avail of study loans to pursue higher education will benefit. The HRD ministry is in touch with the Planning Commission over the issue, Sibal said.
Source: IANS

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Reader's comments (3)

1: A good move by Mr. Sibal. But, availing eduvcational loans or providing loans for better educational infrastructure alone cannot improve the quality oif education in India. The ministry has to keep on improving the quality of the people involved in the education system. The lack of quality education cannot be substituted with better educational loans or educational infrastructure. Indeed this is the first step towards an ultimate goal, but could have been taken earlier as the opportunity for such a step was the recession when jobs were freezed and many would have liked to go for higher education.
Better late than never. Anyways, much appreciated move.

Posted by: Nitinkumar - 08 Mar, 2010

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2: wow. this reminds me of the alphabet soup during the period after the great depression. how many such organizations will we have. unfortunately there are way too many people and hence the need for so many organizations.

Posted by: shaiyani - 06 Mar, 2010

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3:Probably Mr. Shaiyani is right. Where is the need of a Corporation if we have already Banks who are in competition in granting Loans. A Seperate Organistion means another while elephant at the cost of exchequer. Instead HRD ministry issue guidelines to Banks to grant Loans to students liberly. NAVIN PANDEY DELHI

NAVIN PANDEY replied to: shaiyani
post - 08 Mar, 2010

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