MHRD plans education loans for students, institutions

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The Human Resource Development (HRD) ministry is contemplating setting up of an education finance corporation, which will provide education loans to students and private education institutions for infrastructure development. This was revealed by the Union Minister of State for HRD D. Purandeswari. The minister was delivering her presidential address at Great Lake institute’s convocation.

Purandeswari said that the corporation will help needy students pursue higher education by providing easy education loans.

On the issue of regulation of fees charged by the private B-schools Purandeswari said, “ The union government had no control over fees charged by private institutions. The government appeals to the business schools not to involve in profiteering. Education should be accessible to students B-schools should provide education loans to students.”

Replying to the long stretched issue of blacklisted deemed universities by the Supreme Court the minister said that the HRD ministry was yet to review the erring universities.

“Several colleges have applied to us seeking deemed university status and we have written to them asking them to abide by the new regulations laid down by All India Council for Technical Education (AICTE),” she said.

Ms Purandeswari also said that the National Commission for Higher Education and Research (NCHER) Bill was still with the law ministry.

“Once the law ministry clears the Bill we will table it in Parliament and I am hopeful parliamentarians will clear it,” she said.

[Source: Deccan Chronicle]