Aurangabad: Educational loans have become unreachable for students because of the high interest rates, NCP MLC Satish Chavan from the constituency of Marathwada graduates claimed and said he had increased this problem with the State Minister Dr.
Bhagwat Karad.
Chavan, in the release, stated that he met Dr.
Karad in New Delhi on Wednesday and urged that educational loan interest rates were reduced.
“The current interest rate is between 9 and 13 percent, which is quite high, makes education loans not affordable for ordinary people.
Pandemic Covid-19 has hit people in rural areas financially, especially those in the agricultural community.
They worry about how They can pay the loan they have, “MLC was stated in a memorandum that he served with Dr.
Karad.
Home loans and vehicles are cheaper.
Thus education loans must also be provided with lower interest rates, such as some students, who have passed their entrance examinations, unable to do higher education because of high costs, he said.
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Students who take advantage of loans to RS 5 Lakh must be able to do it without a mortgage, Chavan demands.
MLC also met Minster of State for Raosaheb Dave train and urged that the train project in Marathwada paced.
Duplication Track Tracks between MANMAD and Parbhani will help increase the frequency of the train, he said, adding that there is a need for better train connectivity between Marathwada and Mumbai.