Sharp drop in beneficiaries of Centre’s education loan scheme
R. Radhika | February 8, 2021 | 06:45 PM IST | 1 min read
Over three years, the number of students benefiting from the Centre’s education loan interest subsidy scheme has dropped by over 55,000.
NEW DELHI: A total of 75,417 students have benefited from the central government’s interest subsidy scheme on educational loans in 2019-20, the education minister informed the Parliament on Monday, during its budget session 2021.
However, over the last three years, there has been a drastic decrease in the number of students who have availed benefits of the Central Sector Interest Subsidy Scheme, or CSIS.
In 2017-18, over 1.32 lakh students benefited from the scheme. The number of beneficiaries has decreased by 57,408 students, stated the official document furnished in the Parliament budget session 2021.
The scheme, launched in 2009, targets students from economically backward sections pursuing higher education in professional or technical courses.
The scheme aims to assist students from economically weaker sections with an annual income up to Rs 4.5 lakh to take education loans without collateral. The central government provides an interest subsidy on education loan up to Rs 7.5 lakh.
Plus, the budget allocation for higher education has also gone down from Rs 39,466 crore in 2020-21 to Rs 38,350 crore for the upcoming financial year.
Number of students benefited from CSIS
|
Financial Year |
No. of students benefited |
|
2017-18 |
1,32,825 |
|
2018-19 |
88,825 |
|
2019-20 |
75,417 |
Write to us at news@careers360.com
Follow us for the latest education news on colleges and universities, admission, courses, exams, research, education policies, study abroad and more..
To get in touch, write to us at news@careers360.com.
Quick Watch
]Next Story
]Featured News
]- ‘Locally rooted, nationally relevant’: NLU Meghalaya VC on CLAT-only admissions, new LLB courses, research
- ‘Hacker’s bent of mind’: IIT Kanpur, Madras B.Cybersecurity course to train ‘cyber warriors’, says in-charge
- A decade on, Mahatma Gandhi Central University has 5 campuses, none permanent; CAG flags lapses
- Visva-Bharati: SC, ST, OBC forum seeks audit of VBU’s spending, recruitment; writes to education ministry
- MGCU Motihari’s expulsion of MA student unfair; Patna HC orders university to reinstate him
- Maharashtra: MAFSU Nagpur gets first pvt veterinary, dairy technology colleges, doubles BVSc & AH seats
- West Bengal forms panel to decide fate of 933 schools with no students, may hand buildings to other depts
- ‘Not individual failure’: IIT Bombay students protest suicide, want director to quit, action against professor
- West Bengal crackdown on 252 ‘unrecognised’ madrassas leave parents scrambling for alternatives
- NEET PG Counselling: NMC frames branch-specific guidelines for MD, MS admissions of disabled candidates