In a significant move to make higher education more accessible and affordable, Finance Minister Nirmala Sitharaman has announced a higher education loan scheme for colleges in India in the Union Budget 2024. Under this scheme, students can avail of loans of up to Rs 10 lakh to pursue higher education in colleges across the country.
The scheme aims to provide financial assistance to students from economically weaker sections, who often struggle to fund their higher education. The loan will cover tuition fees, hostel fees, and other expenses related to higher education.
FAQs about the new budget
Q1. What is the maximum amount of loan available under the higher education loan scheme?
A1. The maximum amount of loan available is Rs 10 lakh.
Q2. Who is eligible for the higher education loan scheme?
A2. Students from economically weaker sections who wish to pursue higher education in colleges across India are eligible.
Q3. What expenses are covered under the loan?
A3. The loan covers tuition fees, hostel fees, and other expenses related to higher education.
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