Andhra Pradesh Chief Minister Chandrababu Naidu has announced a major relief for students planning to study abroad. After introducing several benefits for school students, the state government has now shifted focus to those pursuing higher education overseas.
Chandrababu Naidu discussed the issue with officials and decided that banks will offer loans at just 25 paise interest to students heading abroad for undergraduate or postgraduate studies. He directed officials to draft a new policy supporting this initiative.
He also made it clear that there will be no limit on the number of students eligible for these loans. The same benefit will apply to those studying in IITs, IIMs, and NEET-qualified courses within India.
According to Chandrababu Naidu, banks will provide these education loans at 4% interest, while the state government will stand as guarantor. Students can repay the amount over a period of 14 years, making it easier for families to manage.
He also instructed officials to set up coaching centres in two locations exclusively for BC students. The move aims to prepare more students for competitive exams and help them qualify for overseas education opportunities.
