Jaipur : Talented students will no longer be deprived of higher education due to lack of money. Union Minister Ashwini Baishnav said that students taking admission in Quality Higher Education Institutions (QHIE) will also get the loan easily. For this, there will be no need for any guarantor nor will there be any pledge.
22 lakh students will get benefits
22 lakh students in 860 higher education institutions (QHEIs) across the country will come under the purview of this scheme. Students will also be eligible for credit guarantee of 75% of the outstanding default for loans up to Rs 7.5 lakh. Students whose family annual income is up to Rs 8 lakh will not get this benefit. They will also be given 3% interest rebate on loans up to Rs 10 lakh.
NIRF will decide ranking every year
The list of 860 institutions will be released every year. It will be decided by NIRF ranking. This will include both government and private institutions. However, preference will be given to those studying in government institutions. Preference will be given to those doing technical and professional courses.
Students studying in government institutions will get preference
Students studying in government institutions and opting for technical-professional courses will get preference. The government has made a provision of Rs 3600 crore for the session from 2024-25 to 2030-31. During this period, 7 lakh new students are expected to get the benefit of this interest rebate.
