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LATEST NEWS UPDATES | Nearly 70% of education loans goes to general category students -Pon Vasanth BA

Nearly 70% of education loans goes to general category students -Pon Vasanth BA

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published Published on Dec 2, 2019   modified Modified on Dec 2, 2019
-The Hindu

MHRD data also indicates variation in size of loans disbursed, with OBCs, SCs and STs receiving lower amounts on average

Around 70% of the education loans disbursed in the country appear to be going to upper caste students, data on a government-funded surety scheme for educational loans furnished by Ministry of Human Resource Development (MHRD) in the Lok Sabha has indicated.

The data provided was on the Credit Guarantee Fund Scheme for Education Loans (CGFSEL), through which banks can avail surety from the National Credit Guarantee Trustee Company Limited (NCGTC) for loans sanctioned up to Rs.7.5 lakh without any collateral.
 
Education-loan-graphic
 
The data available from financial year 2016-17 till now shows that of the 4.1 lakh students benefited under the scheme, a whopping 67% belonged to General Category (GC). Only 23% were from Other Backward Classes (OBC), 7% from Scheduled Castes (SC) and 3% from Scheduled Tribes (ST).

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The Hindu, 2 December, 2019, https://www.thehindu.com/news/national/tamil-nadu/nearly-70-of-education-loans-goes-to-general-category-students/article30132832.ece?homepage=true&utm_campaign=socialf


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