Odisha Govt. Launches Education Loan At 1% Interest Rate for Students Pursuing Higher Education

Bhubaneswar: With the objective to offer meritorious and poor students a fund that will help in continuing their higher studies, Odisha Chief Minister Naveen Patanaik has launched a new scheme-'Kalinga Sikshya Sathi Yojana'.

It was only on Monday when CM Patanaik has announced that Odisha state government will provide education loan to needy students at one percent interest rate for pursuing higher studies.  Reports are that the state government will invest as many as 500 crore of resources from their own fund for the students’ education loan.

“In line with the promise of providing education loan at less interest rate, today the state government has decided to provide education loan at 1 per cent per annum. This will be a major help for students pursuing higher education including Management, Law, Engineering, Medicine etc,” said the Chief Minister on Monday during inaugurating the scheme.

EXIN Times sources, while covering the national news, asserted that this initiative by the government will help reduce the burden of loan of parents. Simultaneously the scheme will also ‘financially empower’ poor students ‘to pursue their aspiration in higher education.’

The Odisha state government has dedicated the ‘Kalinga Sikshya Sathi Yojana’ to former chief minister Biju Patnaik whose birth centenary was on last week. Biju Patnaik had instituted Kalinga UNESCO award for popularization of science when he was only 35 years old, the chief minister said.