Ministers under fire as student loan interest hits 6.3%

The rate rise affects students who started after 2012. Photograph: Alamy Ministers are facing renewed criticism over university funding after an increase in student loan borrowing costs using a “flawed” measure of inflation. The interest rate on loans for students in England, Wales and Northern Ireland will rise by up to 6.3% from September, up from the current 6.1% for anyone who started studying after 2012. The change is a consequence of the increase in the retail price index (RPI) for last month to 3.3% from 3.1% in March a…

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Prime Minister’s Office wants more institutes to bid for ‘world class’ tag

New Delhi: Under pressure from the prime minister’s office, the human resource development ministry has expedited the plan to create world class universities and further relaxed the rules to encourage more private and public institutions bid for the tag. Months after it floated draft rules, the ministry has now changed several of them, according to two government officials who spoke on condition of anonymity and documents seen by Mint. First, institutions such as the Indian Institutes of Management (IIMs) will have the liberty to apply for the “world class” tag…

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Akhilesh sacks Shivpal and other ministers

In a major decision amid the ongoing family feud, Uttar Pradesh Chief Minister Akhilesh Yadav on Sunday dealt a severe blow to his uncle Shivpal Yadav, sacking him from the State cabinet. Three other ministers-cabinet ministers Narad Rai and Om Prakash Singh, and MoS Shadab Fatima-were also sacked. Controversial Minister Gayatri Prasad Prajapati was also sacked. He had been sacked earlier by Akhilesh but had to be brought back to the cabinet on insistence of Mulayam. Mr. Yadav took the drastic step after a meeting with State MLAs and MLCs…

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