Govt to help IIT students get easy, interest-free loans

After receiving feedback from a number of prospective students and their parents about difficulties in procuring loans for paying fees for IITs, the HRD ministry is considering taking special steps to assist them.

Sources said that when the IIT fees were hiked, several categories got a waiver and it was mentioned that students would be able to get interest free loans under the "Vidyalakshmi" scheme.

"There has been some feedback that the government has received regarding difficulties prospective students are facing in securing interest free loans. However the ministry is trying to ensure that the difficulties are solved," a senior official said.

Officials said that the ministry could even work on a proposal for a fund which would take care of the interest component and allow students to procure interest free loans.

The fee hike had been announced for new students and the process of fresh admissions is on, officials said.

- PTI