Saturday, March 6, 2010
Educational Loans Facility
The GOI announcement to set up a National Education Finance Corporation (NEFC) to finance entities interested in setting up educational institutions on easier terms and conditions is yet another welcome move towards reforms in higher education. About a decade ago, it was very difficult for even meritorious students to pursue higher studies in professional colleges in India in institutions of their choice for want of educational loans. GOI, RBI, IBA and other nationalised banks have made this simpler by offering loans at concessional rates of interest even for higher education abroad. The present decision to set up a separate corporation for funding promoters to start educational institutions is laudable. Kapil Sibal and his team deserve compliments to reform and bring in radical changes in the education which is more an investment for future.