|
|
|
|
|
8th Jamadi-us-Sani 1436 | Monday, Mar 30, 2015
Education and Career

Govt to set up finance corporation for education loans

Friday, 5 March 2010
Comments(0)
March 05:

New Delhi, March 05: The government on Friday said it proposes to set up a National Education Finance Corporation (NEFC) to finance entities interested in setting up educational institutions on easier terms and conditions.

Replying to questions in the Rajya Sabha, Human Resources Development Minister Kapil Sibal said NEFC will provide loans for infrastructure development and expansion of education institutions as well as for refinance facility for student loans.

“We are talking to the Planning Commission as it is just a proposal as of now. If NEFC is established, private, aided and government institutions will have access to it for finance on the pattern of soft loans or at priority sector lending rate, that are not available to the sector at present,” Mr. Sibal said.

“At the moment under the present policy framework, if you want to set up new educational institutions, banks lend at commercial rates as HRD is not considered under infrastructure by the Supreme Court,” Mr. Sibal said adding, it comes under “charity” giving State governments the right to control fees.

Once it is set up, loans would be made available to interested entities, and students will not have to “sell family silver for education” he said, adding, “My ministry is extremely keen on that proposal as presently only 12 children reach college out of 100 enrolled in schools.”

Replying to another query, he said the NEFC would have no role in recognition of educational institutions which is done by the University Grants Commission and the AICTE.

---PTI

Latest News

No lowering of guard at border, says CM Mu...

The Jammu and Kashmir government on Monday  said there would be no lowering of guard on the security front along the the borders of the cou ...

Keshari Nath Tripathi to take charge as Mi...

West Bengal Governor Keshari Nath Tripathi, who has been given additional charge of Mizoram, will assume office before President Pranab Mukh ...

India, Japan review strategic developments...

Defence Minister Manohar Parrikar, who held a defence ministerial meeting with his Japanese counterpart Gen Nakatani here on Monday, reviewe ...

Related News

New National Education Policy by December: Smriti Irani

Union HRD Minister Smriti Irani on Sunday said her ministry was working on a new National Education ...

EAMCET Coaching program at Sree Chandra Ju...

EAMCET Crash Coaching program is being organized at Chandra Junior College, Chowmahala Palace, Khilwath and at Royal Regency Garden, Asif Na ...

According to a press note issued by Department of School Education, B.Ed. course will be of two years duration from the academic year 2015-1 ...

Post new comment

To combat spam, please enter the code in the image.

Rs. 26260 (Per 10g)

Opinion Poll
Do you think the crisis in Aam Admi Party would affect Delhi's development as promised by Kejriwal?
YesNoCan't say

Matrimony | Photos | Videos | Search | Polls | Archives | Advertise | Letters

© The Siasat Daily, 2012. All rights reserved.
Jawaharlal Nehru Road, Abids, Hyderabad - 500001, Telangana, India
Tel: +91-40-24744180, Fax: +91-40-24603188
contact@siasat.com