Education loan a boon, but interest rate a pinch: Students

Education loan a boon, but interest rate a pinch: Students

BENGALURU: While education loans help many students pursue higher education in the country, they are seen as a burden when it comes to higher interest rates. Rajesh Bhatt, who is pursuing M Tech in highway technology at the governmentrun Sri Krishnarajendra Silver Jubilee Technological Institute, is still haunted by the burden of an educational loan he’d availed from a nationalised bank while studying his engineering degree, though he has been managing to pay it off. “Without taking a loan it is not possible to study engineering even at a government college….

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‘Minority students deprived of higher education scholarships’

‘Minority students deprived of higher education scholarships’

Students from religious minorities seeking higher education are entitled to scholarships from the state’s Minorities Development department, but not all of them are getting it. This was the contention of the Opposition during proceedings of the Legislative Council. Raising the Calling Attention Motion on the floor of the House, Congress’s Sunil Tambe alleged that hundreds of eligible students are being deprived of the benefit. Replying to the motion, Minister of State (Minorities Development) Dilip Kamble argued that the state’s scheme receives less than desired response due to the existence of…

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UGC Asks Higher Education Institutes To Make Accreditation Status Public

UGC Asks Higher Education Institutes To Make Accreditation Status Public

UGC Asks Higher Education Institutes To Make Accreditation Status Public NEW DELHI:  Going a step ahead to reform higher education in the country, University Grants Commission (UGC) has asked Universities and affiliated bodies to make their accreditation status online. Irrespective of whether they have an accreditation grade or not, the Commission has asked the educational bodies to make it public on their websites and ‘in every material pertaining to the concerned institution for public information.’ This also includes those institutes who are eligible but have not applied for the accreditation. ‘One…

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Are you paying education loan; here’s how you can avail tax benefit

Are you paying education loan; here’s how you can avail tax benefit

Among many categories of debt, education loan is one of them which helps students to accomplish their studies either in India or in foreign country. With this financial support, provided at low-interest rates, youngsters have been facilitated by the government to pursue their dreams. Here are key benefits of education loan, as per PolicyBazaar. Anyone can opt for Education loan to study in India for graduate, post-graduate, professional and/or doctoral courses/degrees.  Loan cannot be assigned to the student alone, the parent or guardian needs to be co-signor for the loan….

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7 Types of Student Loans Offered By the Department of Education

7 Types of Student Loans Offered By the Department of Education

Paying for school can feel like a huge burden, especially as the cost of college continues to increase. Even public universities — typically a much cheaper option than private schools — saw a 7.2 percent price hike during the 2015-2016 school year. With a higher education costing more than ever, finding affordable financing options is essential. One of the best places to start is the federal government. Department of Education student loans tend to have lower interest rates and more generous repayment terms than private loans, making them a smart way…

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4 Expectations for Online Education in 2018

4 Expectations for Online Education in 2018

As more students seek flexible alternatives to traditional, on-campus courses, online education continues to evolve. Among other trends, 2017 saw the proliferation of smaller credentials beyond online degrees, rising online course enrollment at nonprofit universities and the use of big data to track student performance. And there’s plenty more in store for 2018, experts say. Here are four trends in online higher education that prospective students should watch this year. 1. Continued overall enrollment growth: The number of U.S. students who enrolled in at least one online course rose by 5.6 percent between fall 2015…

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Key education reforms panel may push widening of RTE to nursery, high school

Key education reforms panel may push widening of RTE to nursery, high school

A key panel of India’s apex education reforms body is likely to recommend bringing pre-school and classes nine and 10 within the ambit of the Right to Education (RTE) Act, thereby expanding the range of free education for children across India, members of the panel said on Saturday. Currently, the landmark law applies to children between six and 14 years of age studying in Classes 1 to 8. The sub-committee of the Central Advisory Board of Education (CABE) will meet on January 11 to finalise its recommendation before sending the…

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Auxilo Finservice targets ₹50-crore education loans in 3 months

Auxilo Finservice targets ₹50-crore education loans in 3 months

HYDERABAD, DEC 22:   Mumbai-based Auxilo Finservice Private Ltd, a new NBFC on the block, is all set to begin disbursal of education loans. “We are now commencing loan disburals from Hyderabad and Mumbai. Before March 31, 2018, we will expand to Bengaluru, Chennai, Delhi and Pune,’’ Neeraj Saxena, Chief Executive Officer, told newspersons here. Target In the next three months, Auxilo hopes to disburse ₹50 crore and is targeting to lend ₹350 crore by the end of the next financial year. During the financial year 2016-17, eduction loans totalling ₹20,000…

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Education loan defaults soar 47% on weak job market

Education loan defaults soar 47% on weak job market

HIGHLIGHTS A weak job market and wilful default by even those in well-paying jobs have hit the education loan portfolio of state-run banks. Non-performing assets soared by almost 47% between March 2015 and last March, data shared in Parliament showed. The problem is so acute for at least five lenders that the stock of bad loans has more than doubled. NEW DELHI: A weak job market and wilful default by even those in well-paying jobs have hit the education loan portfolio of state-run banks with non-performing assets soaring by almost…

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Rising NPAs in education loan add to banks stress

Rising NPAs in education loan add to banks stress

Education loans too have started bleeding the banking sector with the default in repayment rising to 7.67 per cent of the outstanding amount at March- end, 2017 from 5.7 per cent two years ago. As per the data compiled by the Indian Banks Association (IBA), the total outstanding education loan at end of the fiscal 2016-17 was Rs 67,678.5 crore, of which Rs 5,191.72 crore was NPA. The government is already struggling to deal with the problem of mounting NPA in the public sector banks and has drawn a mega…

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