Kerala launches Rs900 crore education loan repayment scheme

Kerala launches Rs900 crore education loan repayment scheme

Bengaluru: Kerala has launched a Rs900 crore scheme to help students from families with annual income below Rs6 lakh repay their education loans. The move assumes significance as it comes at a time when students are suffering because of banks selling a large number of its “bad loans”, or loans that have turned non-performing assets or NPAs, to asset reconstruction companies (ARCs), which may charge a higher interest rate in turn. Bad study loans are a severe problem for banks in Kerala. Out of the Rs10,220 crore total educational loans…

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Kerala launches Rs900 crore education loan repayment scheme

Kerala launches Rs900 crore education loan repayment scheme

Bengaluru: Kerala has launched a Rs900 crore scheme to help students from families with annual income below Rs6 lakh repay their education loans. The move assumes significance as it comes at a time when students are suffering because of banks selling a large number of its “bad loans”, or loans that have turned non-performing assets or NPAs, to asset reconstruction companies (ARCs), which may charge a higher interest rate in turn. Bad study loans are a severe problem for banks in Kerala. Out of the Rs10,220 crore total educational loans…

Read More