New loan facility for university students
View(s):A loan of up to Rs. 800,000 will be facilitated for students who wish to continue their tertiary education in non-governmental higher education institutions, a Government official said recently.
Accordingly around 131,000 students who qualify to enter the 15 state universities but cannot be granted admission will be granted a loan up of up to Rs. 800,000 by state banks.
The loan will have a repayment period of up to eight years, and the interest on the loan for this period will be borne by the state.
It was learned that approval had already been obtained from the Treasury to pay the interests.
Students who wanted to pay up early could opt for bi-annual payments for this period.
This year around 171,500 students qualified for university entrance. However only 43,000 students gained admission. (CC)
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