Indian students get new loans: Report

Student loans will be extended to all students in India for the first time in more than a decade, the Education Ministry said today.

The move will come into effect from March 1.

In a statement, Education Minister Mukul Rohatgi said the decision would be made with “great deliberation” and that it would have to be ratified by Parliament.

Rohatgi also said the ministry was planning to make the measure compulsory in all state-run schools and universities by the end of March.

Earlier this year, India scrapped its controversial one-year deferment for loans and fees that students take out in lieu of going to college.