Tamil Nadu government has announced the expansion of education loan facilities for students. According to the Higher Education Minister, loans worth about Rs 3,000 crore will be given to 1 lakh students by 2026-27, of which loans up to Rs 7.5 lakh will be without guarantee.
Chennai (Tamil Nadu) [भारत]July 18 (ANI): Tamil Nadu Higher Education Minister K Vishwanathan on Saturday said the state government is committed to ensuring that no student is deprived of higher education due to financial constraints and the government is working to expand education loan facilities.
Speaking to reporters on the sidelines of the birth anniversary celebrations of Ethiraj College founder M Ethiraj, the Tamil Nadu minister said massive education loans were given to students during the UPA government led by former Prime Minister Manmohan Singh from 2004 to 2014.
Target of loan to 1 lakh students by 2026-27
He said the state government has set a target of providing education loan facility to 1,00,200 students during the 2026-27 academic year, with loans worth about Rs 3,000 crore expected to be disbursed.
Loan up to Rs 7.5 lakh without guarantee
Vishwanathan said that Chief Minister Joseph Vijay has prepared a comprehensive framework under which collateral-free education loans up to Rs 7.5 lakh are being given to students.
He said, “Chief Minister Joseph Vijay has prepared a comprehensive framework under which collateral-free education loans up to Rs 7.5 lakh have been given to students. The CM has taken a firm decision that no student should be prevented from pursuing higher education due to lack of financial resources.”
Minister spoke on appointments in universities
On appointments in universities, the minister denied allegations of corruption in the appointment of deans and syndicate members and said the Chief Minister was personally monitoring the process.
Information also given on Naan Mudhalvan scheme
On the Naan Mudhalvan scheme, Vishwanathan said it was started by the previous DMK government and the current government has taken its own policy decisions after coming to power, which he described as a normal process after change of government.
Naan Mudhalavan (“I am the first”) scheme is a skill development initiative of the Government of Tamil Nadu. Launched in 2022, the scheme equips students and youth with industry-related skills, coding, robotics and spoken English. It also provides scholarships and coaching for central government examinations. (ANI)
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