9.95 percent of the amount that students take loan for studies, is drowned by banks. According to the answer given in the policy, as of 31 December 2020, there have been 3 lakh 66 thousand 260 accounts in the total education loan, which have not paid the loan money to the banks. That is, 1 rupee of banks got drowned in education loan for 10 rupees. The banks have identified this amount as Non Performing Asset (NPA). According to the data of the State Level Bankers Committee, till December, a total of Rs 8,263 crore of education loans given to 3.5 lakh accounts of banks, have been marked as NPAs. Till December, banks had given 84,965 crore education loans to a total of 23.3 lakh accounts.
Engineering students immersed most of the money
from banks, out of all the students who take loans from banks for studies, engineering students do not pay the loan. According to the data, engineering students have more NPA than medical students. According to the data, Rs 10,147 crore has been given to medical students, which is 11.9 percent of the total loan, while Rs 33,316 crore has been given to engineering students, which is 39.2 percent of the total loan. Apart from this, loans were given to 3675 crore nursing students, Rs 9,541 crore to MBA students and Rs 28,286 crore to other students. In engineering, 4041 crore rupees NPAs in total 1 lakh 76 thousand 256 bank accounts.
Students of Bihar submerged the money of banks
, South Indian students are ahead in sinking money in the name of education loan. According to the data, while 9.7 percent of the education loan in Bihar has been identified as NPA, Tamil Nadu has the highest NPA of 14.2 percent. In the NPAs of education loans, the South’s share is 11. 9 percent, the North’s share is 3.3 percent, the West’s share is 3.3 percent, the Central’s share is 6.1 percent and the Northeast’s share is 6.8 percent.
Who gets the loan:
Government banks in India give loans to students for higher education. The maximum rate of interest on the loan is 3 percent. Apart from this, Indian students going abroad for higher education also get loan. For the loan, the applicant has to be 12th pass. According to the requirement, the bank can give loans up to 100 per cent on studies. For studies in India, margin money is required for five percent of the loan amount and 15 percent for studying abroad.
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