Prince Charles backs $10 million new education bond for marginalised children in India

Prince Charles backs $10 million new education bond for marginalised children in India

Britain’s Prince Charles and his wife Camilla attend a cultural event at the British Council in New Delhi on Wednesday. Photo: AFP London: Britain’s Prince Charles, on a two-day visit to India, has given his backing to a new development bond for India to provide education to marginalised children in the country. The $10 million education development impact bond (DIB) has been created by the British Asian Trust, founded by the Prince of Wales to fight poverty in south Asia, and is designed to improve learning outcomes for thousands of marginalised…

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Can’t take education loan off NPA: Finance minister

Can’t take education loan off NPA: Finance minister

TRICHY: The union ministry of finance refused to exempt education loans from non-performing asset (NPA) citing that Reserve Bank of India is against the exemption for maintaining credit discipline.  In a letter to the Union finance minister Arun Jaitley, MP Trichy Siva has urged not to bring education loans under NPA since non-payment of educational loan is affecting their Credit Information Bureau of India Limited (CIBIL) score.  Citing data from 2016, he highlighted that educational loan accounts for only 6.94 percent of the loans from banks. In the letter, he said that 37 percent of…

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Education loans will count in credit ratings, says govt.

Education loans will count in credit ratings, says govt.

No exemption possible, Finance Ministry tells DMK MP The government has clarified that education loan defaults cannot be kept out of the ambit of credit rating bureaus such as the Credit Information Bureau of India (CIBIL). The government’s response was in reply to a question posed by DMK MP Tiruchi Siva. In a letter written to Finance Minister Arun Jaitley in August, Mr. Siva said student loans amounted only to 6.9 per cent of the total non-performing assets (NPAs), compared to industrial sectors such as steel that accounted for 36.4…

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Decoded: Five education loan myths

Decoded: Five education loan myths

A good solid education is a stepping stone to a successful professional life. While most parents strive to provide their children with the best education they can, lack of finances often act as a hindrance to academic aspirations. Today, the rising cost of education has made most students and parents turn towards Education Loan to fund higher education. And like with most financial products, education loan too has several myths surrounding, which I would like to dispel. Poor scores in entrance exams will hinder your loan approval: Many students worry that…

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Get an education loan, at a swipe

Get an education loan, at a swipe

Getting an educational loan in India is very difficult, mainly for students who do not qualify to study in the top institutes in the country. It is also tough to garner funds to purchase expensive devices such as tablets and laptops that are a necessity for most professional courses. This is the key anomaly that Bengaluru-based financial tech firm, Quicklo, is attempting to solve. Founded a couple of years ago by Mrigank Shekhar, Kush Srivastava and Rahul Saxena, classmates from IIT Delhi, Quiklo partners with banks and non-banking financial institutions…

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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…

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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…

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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…

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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…

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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…

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