Saturday, August 6, 2016

Interest-Free Loans to IIT Students

Interest-Free Loans to IIT Students

The students in IIT will now get interest subvention on the education loans who are admitted for undergraduate and the 5-year integrated degree programmes. The ministry decided to provide interest subvention covering the period of the study plus one year of moratorium under the Vidyalaxmi Scheme.

The ministry informed that the facility shall be made available to all the students whose household income does not exceed Rs. 9 lakh per annum. The education loan, for this purpose, shall cover only the tuition fee payable by the student as per his eligibility. The portion of the tuition fee paid by the student from his own sources at the time of securing admission could be reimbursed from the overall loan. Also, The terms of the loan shall be in accordance with the broad contours of the Educational loan Scheme of the Indian Banks’ Association (IBA) for pursuing Technical/Professional Education studies in India.

So let's do:
1. Minister of State (HRD), Dr. Mahendra Nath Pandey has announced in Rajya Sabha for which course?

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