US EXIM Bank to offer student loans for studies in US

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Fred P. Hochberg

Fred P. Hochberg, US EXIM Bank

Indian students who are currently the second largest international student community in US behind the Chinese have one more reason to study in the country. The Export Import Bank of the country (US Exim Bank), has come forward to offer education loans to Indian students planning to pursue higher education in the US.

Around 104,00o Indian students went to US for studies last year representing 14% of all international students in US higher education.

Fred P Hochberg, US Exim Bank’s chairman and president, said the bank would extend loans to students planning to study in the US while talking to media during a dinner meeting organised by the Confederation of Indian Industry in Chennai.

With overseas students coming to the United States, jobs would be created there in the education sector and is thus, a sort of services export, he said.

Hochberg, who is one of the highest ranking business leaders in the Obama administration, also said the bank has $2 billion worth of funding proposals in the pipeline in India and has exposure worth $ 7 billion in the country, which is next only to Mexico.