INDIA: Government help for student loans

25 May 2008

Human Resource Development Minister Arjun Singh said on Saturday that the government is considering a proposal to provide counter-guarantee for students who apply for bank loans for higher education, reports The Hindu Times and The Times of India. "We are actively considering the proposal," Singh said at an international education fair in New Delhi organised by the Association of Commerce and Industry.

Students have to produce collateral for any loan above Rs 4lakh ($9,380) which places a huge burden on poor families. The minister has already thrown his weight behind the proposal, saying higher education had to be more proactive.
Full report on The Hindu Times

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