Government seeks to nearly double education loan disbursements next year
India
Big news for students: the government wants to almost double education loan disbursements over the next year, making it easier for you to afford college or university.
Banks will host loan sanction camps at around 50,000 higher education institutions, so getting approved could be as simple as showing up.
Loan applications processed within 10 days
Loan processing is set to speed up: applications should take just 10 days instead of weeks.
The Credit Guarantee Fund Scheme for Education Loans (CGFSEL) may soon offer bigger collateral-free loans and drop co-applicant requirements, with interest rates capped.
All these changes are meant to help more students from all backgrounds access higher education without extra stress.