The days of standing in long queues in banks to avail loans for education may just be over as the Delhi Government launches online application portal for Higher Education and Skill Development Guarantee scheme.
The portal inaugurated by Chief Minister Arvind Kejriwal will help students avail loans who wish to pursue higher education in Delhi.
The scheme which is regarded as the brainchild of the Directorate of Higher Education will serve as an encouragement to undergraduate and students of higher education to pursue their career goals which they might otherwise fail to avail in the absence of adequate funds.
Under this scheme, bank loans taken by the students will provide a guarantee through a Higher Education and Skill Development Credit Guarantee Fund created by the government. Students will not be required to furnish any collateral or margin money and it will be an equal opportunity scheme.
For the sake of convenience and transparency the facility was made online and the participating banks will be oblidged to provide loans applied by the students, said Deputy chief minister of Delhi Manish Sisodia.
With the launch of the portal Arvind Kejriwal said that he was committed to the promise made by his government that no student in Delhi should be denied the opportunity for quality education due to lack of resources.