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With hike in IIT fees, parents of many eligible candidates are facing problems in getting themselves loans from the banks. Keeping in mind the same thing, the HRD ministry has decided to help such students procure loans easily.
Several courses in IIT have noticed hike in fees this year. Under the ‘Vidyalakshmi’ scheme, students were to get interest free loans from banks.
Though this has not been the case. According to reports, many parents are facing problems in obtaining interest free loans to pay for IIT fees. A senior official at HRD ministry said that they soon will resolve the problems.
There are chances that ministry might create funds to pay the interest part of the loans of the students, so that the parents can procure interest free loans from banks.