NEWS & ADVICE : EDUCATION LOANS
States urged to share financial burden of edu loans with Centre
By Neelima Shankar
Jun 10, 2010
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Human Resouce Development Minister, Kapil Sibal aims to urge the State governments to share the financial burden of starting a new agency for granting financial aid to educational institutions and students with the Centre.

This plan by Sibal may take states in worry as they are already complaining about inadequacy of funds in implementing the right to education law.

According to his ambition, Sibal would be seeking the education ministers of States to give financial support to the proposed National Education Finance Corporation (NEFC). This would be done in a meeting which is to be held with them on 18th of June.

"It is a win-win situation for the Centre. If states help in funding the NEFC, it reduces our financial bill. If not, it strengthens our position at a time when we face opposition from them on other education reforms," said a top Government source.

The NEFC has been planned in the lines of NABARD which provides farm loans to self help groups.

NEFC, as proposed would be granting education loans at low interest rates. It would also be lending to educational institutions both from public and private sector.


 


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