Govt launches subsidised loan scheme for higher studies

Bhubaneswar: To provide an opportunity to meritorious students to pursue higher studies, the Odisha government today launched a new scheme 'Kalinga Sikshya Sathi Yojana’.

Launching the new scheme, Chief Minister Naveen Patnaik said under the new scheme, the state government has decided to provide Education loan at only 1 percent per annum. This will be a major help for students undergoing higher education, including Management, Law, Engineering, Medicine etc.

The state government will meet the fund requirement of about Rs 500 crore from its own resources.

“I fully understand the financial stress parents, especially of the poor and middle class, undergo in meeting the education cost of their children. This historic and pioneering step of my government will reduce the loan burden of thousands of parents and financially empower poor students to pursue their aspiration in higher education. I dedicate the scheme to the foresight of Biju Babu on his birth centenary who had instituted Kalinga UNESCO award for popularisation of Science when he was only 35 years old,” he added.