The Department Of Education Cuts Off A Student Loan Watchdog

The Department Of Education Cuts Off A Student Loan Watchdog

The letters “CFPB” may not be much more than alphabet soup to your average student loan borrower. They stand for Consumer Financial Protection Bureau, a new-ish federal agency — created in 2011 — with a unique mission and a big effect on student lenders and for-profit colleges accused of defrauding or otherwise mistreating Americans. But the U.S. Education Department has just called a halt to the enforcement collaboration between itself and CFPB. This move leaves 44 million student loan borrowers, owing $1.4 trillion in debt, with potentially less, or at…

Read More

PM Modi’s Focus on Digital India Has Merged Technology and Education, Global Online Education Market Booms

PM Modi’s Focus on Digital India Has Merged Technology and Education, Global Online Education Market Booms

The Digital India campaign has definitely widened the horizon of learning process in India. Taking inspiration from the success of the several start up model across the nation, education has taken new dimensions and have moved far beyond experimentation. It has simultaneously opened its doors to a new path that is skill based learning. Educational system nowadays, involves students, parents, books as well as technology, peer groups, teachers and entire education into the learning ecosystem. The Global Online Education Market is growing rapidly; primarily due to the rising demand for…

Read More

Dalits, tribals prefer loans for home than education

Dalits, tribals prefer loans for home than education

More Dalit and tribal families have been taking home loans over the past few years while the number of education loans has reduced, indicating a new pattern of investments among these communities. A note prepared by the department of financial services in the ministry of finance shows the amount disbursed in home loans in 2017-18 , Rs 2,849.36 crore, has gone up by nearly 50% compared to 2015-16, Rs 1,954.57 crore. Sources add that the rise coincides with the government’s renewed thrust on ‘Housing for all’ by 2022 and the…

Read More

3 months for banks to claim subsidies for education loans

3 months for banks to claim subsidies for education loans

CHENNAI: Banks across India can now submit claims for the education loan interest subsidy for eligible accounts for the financial year 2016-17 from August 23 to November 23. Canara Bank is the nodal bank and they will be opening the portal. All the students who have availed education loanfrom the Banks under Indian Banks’ Association (IBA) Scheme to pursue professional / technical courses in India are eligible to avail the full interest subsidy, if the annual parental income is less than 4.50 lakhs. Many banks have failed to claim the interest subsidy from MHRD thereby…

Read More

Qlik academic programme to cover 50 education institutions in India

Qlik academic programme to cover 50 education institutions in India

Data analytics company Qlik, has announced the expansion of the Qlik academic programme to cover 50 education institutions across 25 cities in India. Under this programme, more Universities will be able to teach marketable data literacy and analytical skills to students along with  their academic discipline. The Qlik Academic programme is open to accredited university-level institutions globally including profit and non-profit colleges alike. To name a few,it include education institutions like IIM Bangalore, IIM Lucknow, IIM Indore, SP Jain School of Global Management, NIT Karnataka, NMIMS Mumbai, SCMHRD, Xavier Institute of Management…

Read More

Qlik Academic Program to encompass 50 education institutes across 25 Indian cities

Qlik Academic Program to encompass 50 education institutes across 25 Indian cities

Data analytics deployer Qlik on Thursday announced the expansion of the Qlik Academic Program, which will now cover 50 education institutions across 25 cities in India. The initiative will enable more universities to improve the value of their offerings by teaching marketable data skills, and also help students advance their analytical and data literacy skills within every academic discipline.   Offering free, full-year subscriptions to Qlik software, the Qlik Academic Program is open to any accredited university-level institution worldwide, for-profit and non-profit colleges alike. The program provides access to the Qlik…

Read More

Here Is The Real Reason Why The Interest Rate On Education Loans Is Always So High

Here Is The Real Reason Why The Interest Rate On Education Loans Is Always So High

There are many reasons why the interest rate on education loans is so high as compared to a car or property loan. But, don’t worry, there are some privileges through which you can save a part of your hard earned money. But, before that, here are some calculations to keep in mind to get a better idea of the bigger picture. Know If You Are Eligible For Taking The Loan You should be a resident of India. You should have secured an admission at a reputed institution for a particular…

Read More

Drugs case: focus turns to IT companies, education institutes

Drugs case: focus turns to IT companies, education institutes

Notice served on 13 firms, 50 schools and colleges: Excise Minister After the film industry, the Telangana excise department has turned its attention to IT companies and private education institutions, the names of employees and students of which figured in the drugs case. The department has served notice on 13 IT companies and 25 schools and an equal number of colleges which figured in the list. “We will call them for questioning once the officials gather sufficient proof,” Excise Minister T. Padma Rao Goud said. ‘Tollywood not targeted’ He refuted…

Read More

Despite 21% jump in unpaid education loans, lenders continue disbursal

Despite 21% jump in unpaid education loans, lenders continue disbursal

Despite increasing number of students not paying back their loans spiking NPAs to over 10 %, lending continues for higher education with the disbursals topping Rs 20,000 crore in fiscal 2017, according to a report. Banks and other lenders together disbursed around Rs 20,000 crore in education loans in FY17, up from around Rs 17,000 crore a year ago, while total outstanding grew 1.6 % to Rs 81,600 crore. Non-performing assets (NPAs) within the education loan book of the system ballooned 21 % in the reporting year, spiking the NPA…

Read More

The burden of education loan

The burden of education loan

With the cost of education rising, more students seem to prefer education loans. But, many are finding themselves without jobs, even after paying for expensive education. According to recent reports, the total education loan dues in the banking system had risen from Rs 48,382 crore to Rs 72,336 crore, a rise of 49.5 per cent, between March 2013 and December 2016. In comparison, non-performing assets in this segment was up 142 per cent, from Rs 2,615 crore to Rs 6,336 crore in the same period. Clearly, more and more students…

Read More