Odisha Chief Minister Naveen Patnaik on Monday launched a new scheme “Kalinga Siksha Sathi Yojana” to provide education loan at 1% interest to students for pursuing higher studies.
Under the provisions of the scheme, the state government would provide education loan at only 1 per cent interest per annum to students undergoing higher education, including management, law, engineering, medicine and others.
The state government will meet the fund requirement of about Rs 500 crore from its own resources.
“In line with the promise of providing education loan at less interest rate, the state government has decided to provide education loan at 1% per annum. This will be a major help for students pursuing higher education including Management, Law, Engineering, Medicine etc,” said the Chief Minister.