Interest-free loans to IIT students soon: Javadekar

IIT students can soon avail themselves of interest free loans under the Vidyalaxmi scheme for the total portion of the tuition fee payable.

“This is the first interest subvention scheme in the education sector,” Union Human Resource Development Minister Prakash Javadekar told reporters at an informal interaction here.

The scheme will be available to all students of undergraduate courses and five-year integrated degree programmes starting from 2016-17, covering the period of study and one year moratorium. It will be open to students with household income of less than ₹9 lakh per year and will cover the tuition fees paid by the student. The term of the loan will be for 10 years and no collateral will be required except the personal guarantee of the student and the guardian. Payment of the interest subvention will be from the internal accruals of IIT and will also depend on the academic performance of the student.

The Ministry in a statement on April 28 this year had announced that it had hiked tuition fee in IITs to ₹2 lakh a year. But, it had added that SC/ST/PH students will get complete fee waiver. Students whose family income is less than ₹1 lakh per annum will get full remission of the fee. Students whose family income is between ₹1 lakh and ₹5 lakh per annum shall get remission of two-thirds of the fee.

NEET Phase 2

As per Supreme Court guidelines, the Central Board for Secondary Examination (CBSE) is conducting NEET phase 2. Students who took NEET phase 1 exam can take NEET phase 2 to improve their scores but will have to run the risk of foregoing their phase 1 scores.

“In case a candidate appeared in NEET-I and applied for NEET-II but not paid the fee, his candidature for NEET-II will not be considered as he has not submitted the fee and thus, his form has not been submitted successfully. In this case, result of NEET-I will be considered,” an official statement said. Moreover, if a candidate appeared in NEET-I and applied for NEET-II successfully but could not appear in NEET-II, such cases will be placed before the Oversight Committee for consideration of their NEET-I result.

Source | Business Line | 15 July 2016

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Pralhad Jadhav

Senior Manager @ Library

Khaitan & Co

Blog | http://pralhad-fyilibrarian.blogspot.in/

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