02-05-2015, 09:23 PM
The state has taken steps to bring relief to students by simplifying the loan process. As part of this process, govt introduced a rating system for academic institutions.
This initiative helps in easing the procedure for giving and getting loans for higher education. According to the scheme, students who wish to obtain educational loans for higher studies and are given preference given hassle loans. The step has been taken by the government post complaints from qualified students who met hedge banks.
According to sources of November 2014 offered by India Rs. 62,800 crore of the loan amount for students is an increase of 4.6%. State Bank of India extended the maximum amount of loans Rs 15,387 crore ie till the end of September 2014. Since 2010 to 2011, demand for loans increased incessantly. Considering this, the banks are required for sorting academic institutions so that students do not suffer.
Central Government and the Ministry of Human Resource Development collaborated and came up with various schemes as well as suggestions upgrading the condition of the Indian education sector. According to the reports of all India survey on higher education 2012-2013, at this time more than two crore students pursuing higher education in India. The number of Indian colleges and universities are umpteen so it takes time and courage to offer much loans to students. Positive measure will reduce the pain of the students.