The Education Ministry is working on a subvention scheme to help IIT students get interest-free loans so that they can pay their fees easily.

Officials in the Prakash Javadekar-led ministry said while the fee for these institutes was hiked recently, the government also wants that students and their parents do not face any hardship.

“The ministry has planned a subvention scheme which will ensure that the interest part on loans is taken care of by it.  The details of the scheme are being finalised by the ministry,” an official said.

When the IIT fee was hiked, it was mentioned that students would be able to get interest-free loans under the ‘Vidyalakshmi’ scheme.

However, according officials, there has been some feedback regarding difficulties prospective students are facing in securing interest free loans and the ministry is trying to ensure that these are addressed.

The fee hike comes into effect from this academic year, when the new batch joins.

Source: NDTV