Union cabinet likely to approve new higher education loan policy: Sources

In the latest, government sources have indicated that the Union Cabinet is likely to approve a groundbreaking new policy designed to enhance access to higher education loans. This initiative will offer loans of up to Rs 10 lakh for students pursuing education at domestic institutions.

As part of the scheme, recipients will benefit from a 3% interest subsidy aimed at making higher education more affordable. In order to provide a significant boost for students, the program will also provide e-vouchers for one lakh students each year.

The announcement of this initiative was first made in the Union Budget, highlighting the government's commitment to improving educational opportunities and supporting the aspirations of students across the country.

Further details on the policy's implementation are expected to be unveiled following the Cabinet's approval.