At just 25 paise interest: Andhra Pradesh govt to guarantee student education loans

Amaravati: Andhra Pradesh has delivered good news for students aspiring to pursue higher education at reputed Indian or overseas institutions.

Chief Minister Nara Chandrababu Naidu has announced a loan facility for such students at an interest rate of just 25 paise. He stated that the state government will act as a guarantor for these loans, which will be issued by various banks. The repayment period for the loans will be 14 years.

In addition, the state government will establish two dedicated coaching centres for BC students preparing for the IIT and NEET entrance examinations. The Chief Minister reviewed the welfare initiatives for SC, ST, BC, Minority, and Persons with Disabilities in a meeting with ministers and senior officials at the Secretariat today.

During the meeting, the Chief Minister directed officials to upgrade welfare hostels into fully equipped residential schools to ensure quality education. He also stressed the need to install solar rooftops at these institutions to reduce electricity expenses.

The Chief Minister congratulated 312 students from BC residential schools who secured admission to IIIT, some of whom met him at the Secretariat earlier in the day.

He further emphasized that the welfare departments should take the lead in implementing the "One Family–One Entrepreneur" policy to promote economic empowerment among weaker sections. He instructed officials to clear any pending payments to imams and pastors and suggested the distribution of gas-powered iron boxes to washermen.