Interest-free loans for all IIT students

All IIT students will have access to interest-free loan for the entire tuition fee under government’s ‘Vidyalakshmi’ scheme at the time of admission, the HRD ministry has proposed.

 The proposals will be ratified by the IIT council shortly. “As chairperson of the IIT council, the HRD minister is entitled to take the decision,” a source said.

 

 

In case of JEE, some tweaking has taken. Performance of students in Class 12 examination will still be crucial for JEE eligibility. To qualify, students will have to secure minimum 75% marks or be in the top 20 percentile in the class XII examination. For SC, ST students, it will be 65%.

The ministry said rationale for the hike is that cost of maintenance of IITs should be met largely from fees. IIT council had also said the hike would ensure that salary and maintenance bills, that come to over Rs 2,000 crore annually, are met.

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