CHENNAI: The State government is all set to enhance the education loan limit for students beyond the existing ceiling of Rs 7.5 lakh as part of efforts to ensure that no student drops out of higher education due to financial constraints, said Higher Education Minister Viswanathan on Friday.
Addressing reporters, the minister said that the decision was taken at a review meeting on higher education chaired by Chief Minister C Joseph Vijay. The CM had directed officials to ensure that all eligible students receive education loans without delay.
To streamline the process, the government will appoint a professor in every district to assist students in obtaining education loans. The professors, along with their teams, will interact with students, assess their requirements, coordinate with the district’s nodal bank and facilitate the sanction of loans.
“The education loan limit was initially Rs 4 lakh, with either a parent or a relative acting as guarantor. It was later enhanced to Rs 7.5 lakh, and the government now proposes to raise the ceiling further,” Viswanathan said but did not specify the revised limit.