Govt to rejig financial schemes to promote higher education

The government plans a major restructuring of schemes governing provisions of financial assistance to students in a bid to encourage them to pursue higher studies and reduce drop-outs.The ministry of human resource development is giving final touches to a policy which will encourage institutions, especially universities, to become one-stop shops for student-financing while the government would stand as guarantor for a host of education loans. This, sources said, would encourage banks to increase disbursement to this segment. In addition, the quantum of loans on offer for students would also be raised, they said.

Source: Financial Express