Aurangabad (Maharashtra), Aug 4 (UNI) MLC Satish Chavan on Wednesday urged the Centre to slash interest rate on educational loans so as to make borrowing more affordable for pupils aiming for higher education.
In the same regards, Mr Chavan—who represents the Marathwada Graduate constituency—met Union Minister of State for Finance Dr Bhagwat Karad in Delhi.
In the meeting, the MLC stated that present 9-13 per cent interest is charged on loans taken for higher education.
Many budding, bright students from rural farming families have completed higher education by taking loans. But due to insufficient opportunities, they are yet to get a job, he pointed out.
He further said that the development of technology in the last few years has opened up many avenues of education.
The cost of alternative education has also gone beyond the reach of the common man, he averred before submitting a memorandum pertaining to the demand.
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