Representational Pic courtesy livemint.com
Jharkhand Government has made provisions in its budget for guaranteeing loans above 7.5 lakhs to ST, SC and backward categories of students in the forthcoming academic year. This was announced by Amit Khare, Welfare Commissioner and Chief Secretary, Planning & Finance.Sri Khare said that such measures were being taken because at present, banks give loans above 7.5 lakhs only on the basis of collateral or third party guarantors, which students from these categories cannot provide.
He attributed the low enrolment of students of this category in higher educational courses to their inability to finance education and said that a portal would be made available by SLBC for processing applications for loans. A list of prominent and recognised educational institutions from all over the country would be made, to which students can apply through this portal.