Congress MLA and former education minister K Lakshminarayanan has urged the Puducherry government to provide educational loans to Centac-sponsored students by tying up with banks. The proposal is an alternative to the Perunthaliavar Financial Assistance scheme, which the government has been unable to implement for paucity of funds.
In accordance with Union Finance Minister P Chidambaram’s announcement that processing of loans would take a maximum of 15 days, Lakshminarayanan said the UT Government can call for a consortium with banks and provide loan applications through the government. It will help ease the agony of students who pay heavy fees charged by private colleges.
He further said, like the Central Government, the UT Government should start the Credit Guarantee Fund for educational purposes. With a low interest, students would be able to avail of a loan and complete their studies, he said.