HRD Ministry Asking States To Help In Making Education Loan Cheaper

The present interest rate for education loan is between 10—12%. According to new proposal of National Education Finance Corporation (NEFC), the new education loan interest rate will be lower and the duration for repayment of the loan would be more. In this context, the Human Resource Development Ministry will ask states to contribute towards making education loans cheaper as proposed under the National Education Finance Corporation (NEFC). The ministry official said, “State government run educational institutions will also benefit from the NEFC, so the centre will seek cooperation from the states.”