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Interest-free loans for all IIT students

Updated On 2016-04-08 09:42:02 Exclusive

The HRD ministry has proposed that all IIT students willhave access to interest-free loan for the entire tuition fee under government'sVidyalakshmi scheme at the time of admission.

The proposals will be ratified by the IIT council shortly. Aschairperson of the IIT council, the HRD minister is entitled to take thedecision, a source said.

In case of JEE, some tweaking has taken. Performance ofstudents in Class 12 examination will still be crucial for JEE eligibility. Toqualify, students will have to secure minimum 75% marks or be in the top 20percentile in the class XII examination. For SC, ST students, it will be 65%.

The ministry said rationale for the hike is that cost ofmaintenance of IITs should be met largely from fees. IIT council had also saidthe hike would ensure that salary and maintenance bills, that come to over Rs2,000 crore annually, are met.

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