Every student will get a loan – P Chidambaram

Federal Minister for Finance P Chidambaram has said that every student of professional course in the country, who is facing a shortage of funds to pursue his education, will be provided with loans from the public sector banks.

Speaking after inaugurating a convention of Self Help Groups (SHGs) at Kolar near here, Chidambaram said the United Progressive Alliance (UPA) Government is determined to ensure that students of professional courses, particularly those from rural areas, complete their education.

“If your son or daughter gets admission in a professional college, they will be given loans. I want to tell all bank managers clearly that no student, who gains admission to a recognized course, should be denied education loans under any circumstance”, the Finance Minister told the women from rural areas, who had gathered for the function.

“Every student, who wants to join an educational course – be it medicine, dental science, engineering, nursing, MSc or M Com – should get loans”, he said.

If the students are denied loans by the public sector banks, Chidambaram said the parents or the students themselves could write to him directly. “I will rush to your aid” he assured them. Chidambaram also advised the rural folk to treat daughters and sons alike when it comes to pursuing higher education.

He said the banks had so far extended loans amounting to Rs 130 billion to about 900,000 students in Karnataka.