How to buy a student loan in India
2.15 pm: Prime Minister Narendra Modi says students should be allowed to transfer from one school to another.
In an interview with NDTV, he said students should have the right to transfer to any school and if they want to attend any school they have to apply for admission.
We have to provide facilities for them, he added.
2.10 pm: Students who cannot afford loans should not attend colleges, says Nitin Gadkari, Congress spokesperson on education.
He is referring to students who do not have any means of getting loans.
1.45 pm: Nitin Gadkari criticises the Congress for not allowing students to transfer out of their respective schools.
“We have to offer these students the right of admission, the right for the student to go to any other school and transfer to another one.
There should be an option for the students to leave one school and go to another school, if they wish,” he told NDTV.
3.45 am: Students should be able to transfer, says Narendra Modi, BJP MP from Uttar Pradesh, in his interview with The Times Of India.
He said that the government is working on a bill that will allow students to go anywhere they want.
We are working on it, he explained.
India’s student loans are in crisis.
In August, the government introduced new regulations for new and existing students.
Students were asked to take out a loan of Rs. 100 per month from January 1, 2020, to December 31, 2019, with an annual interest of up to 6 per cent.
They can also choose to borrow at a rate of 5 per cent for the first two years and 10 per cent thereafter.