Students gain time to pay education loan interest

Tuesday, September 1, 2009, 11:40 [IST]

Kanchipuram, Sep 1: Union Home Minister P Chidambaram on Tuesday, Sep 1, while inaugurating a campaign announced that interest on student loan borrowed during 'Education Loan Campaigns', would be deferred.

The interest would be put off till the completion of the course, which may extend to four years. An additional six months would also be provided. All this while, he said, the state would pay the interest.

Chidambaram said that this was Centre's effort to encourage students to pursue higher studies and provide scholarships to deserving students.

He added that soon there would be central universities, technical and management institutions in all regions.

However, Chidambaram's sudden involvement in education loan may raise questions.

OneIndia News

Topics: education sector, interest rates, loan, p chidambaram

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User Comments

priyanshu kedia 16 Feb 2011 09:02 pm

sir,i have taken a loan of 4 lacs from oriental bank of commerce.my father died on 7th of nov and his income as per the income tax file is below 4lacs..m i eligible for this waiver of interest???