Deputy Chief Minister Manish Sisodia on Thursday announced a Higher Education Guarantee Scheme (HEGS) for the students who want to pursue their higher studies in national Capital. This drafted loan scheme will also be applicable to all those private institutions in Delhi who have the accreditation from National Assessments and Accreditation Council (NAAC) and National Board of Accreditation (NBA). Under HEGS, students can take loan from banks up to Rs10 lakh.
State Delhi has 105 private institutes where significant numbers of students pursue their professional/academic courses. The degree costs Rs2 lakh to Rs5 lakh, which is not affordable for some students.
However, students of education institutions like Delhi University and other Central and State universities will not be benefited because the overall course fee structure is already very low. Students who wish to pursue any diploma or degree course after finishing
Class XII from any school in Delhi will be given bank loans with the Government standing as a guarantor. According to Punya Srivastava, Secretary, Education, this scheme is drafted keeping in the view of employability and parents/guardian would be joined as borrowers so that the overall burden of the repayment of the loan will not come on the shoulder of student only.
In 15 days, after applying for education loan, student will be having loan from the bank and if any student is facing hurdle to sanction his loan, he/she can directly address his problem to the Grievance Redressal Committee.