India
Sovereign Guarantee For Student Loan Soon : Arjun
New Delhi | Saturday, May 17 2008 IST
The government may soon announce a sovereign guarantee to help students overcome cumbersome formalities of higher and professional study loans. This was indicated by Human Resource Development Minister Arjun Singh at an education fair staged by an Associated Chamber of Commerce and Industry. Banks and financial institutions insist on collateral and turn away students, the Chamber quoted Singh as saying, adding how ''a vast majority of students... stop pursuing'' higher and professional education. It did not say how many students are denied loans nor why the lenders are not regulated. Minister of State for HRD D Purandeswari spoke of up to 25-30 per cent shortage of faculty that ought to be got over to ensure proper education, the Chamber said. She suggested private sector participation in running even government schools, colleges and other higher learning institutions and offering courses that bring ''students jobs with convenience.'' -- (UNI) -- 17DI15.xml
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