Vasan urges subsidy on education

Referring to reported shortfalls in the scheme implementation, mainly the delay caused by banks and HRD ministry in sending documents and releasing subsidies, respectively, Vasan said the students were burdened with paying interest along with the premium owing to the slackness of banks and the ministry, which was unacceptable. 

If the banks and HRD ministry had functioned properly, interest subsidies for education loans would have reached the banks in time every year and the receipt of education loan would have come down by 40%, the former shipping minister claimed, urging the Centre to inform in time the parents and students about loan and interest waivers besides the loan payment deadline.