Safeguards needs to be in place for the education loan scheme: L-G to Manish Sisodia

Safeguards needs to be in place for the education loan scheme: L-G to Manish Sisodia

Earlier, Manish Sisodia charged the L-G of Delhi as partial to the children of Delhi over the matter of blocking the government's education loan scheme for higher education to which L-G replied and said that his action of blocking the scheme was misconstrued and said "loans had to be need-based, generally available, and with safeguards".In a letter to Sisodia on Wednesday, Balaji wrote that higher education is no longer a luxury but essential and that any students' loan scheme must meet two criteria of being need based and generally available. A statement from the L-Gʼs office added, “The challenges of non-availability of loans, high default rate, need for proper due diligence by banks, non-participation of the educational institutions, equity of access, improper data collection, tracking of students, etc, also need to be addressed.” The L-G has “only suggested that it might be a good idea to advise the administrative department to ensure that all the safeguards incorporated… may be considered…,” the statement added.Sisodia, on the concerns raised by the L-G said that the scheme already has all the safeguards in place. “Appreciate his concern for safeguards. But all safeguards are already built into Edu-Loan Scheme. Shall be highlighting and sending file back to honourable L-G,” said Sisodia.

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