The Bihar government will be providing loans to the students who want to pursue for higher studies. On Tuesday Chief Minister Nitish Kumar said the state government has made plans to start a single-window loan system that would allow the needy students to skip the traditional bank hoops and acquire a loan at considerably low interest rate.
The government took this step after the failure of their request being made to the conventional financial institutions. Previously the state government has been requesting the conventional financial institutions to ease terms and conditions on students' loans but it had fallen on deaf ears making it nearly impossible for many to chase their educational dreams.
"We are working on this scheme that would help a number of deserving students who, in the lack of adequate financial help, are unable to realize their academic potential and are left to pursue other avenues in life," the Chief Minister said.
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