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Odisha offers education loan at 1% interest

Bhubaneswar, June 27: Chief Minister Naveen Patnaik on Monday launched Kalinga Sikshya Sathi Yojana, a subsidised education loan scheme for students, who will now pay an interest of only one percent.

“We will provide Rs 500 crores from our own resources to bridge the interest gap. This will directly benefit our students pursuing higher education including engineering, management, law, medicine, etc,” said the Chief Minister.

Terming it a as historic step reinforcing priority to education, and fulfillment of yet another election promise made to the people, Patnaik said, “I can fully understand the financial stress that parents, especially from the poor and middle class, undergo in meeting educational expenses of their children. This scheme will not only reduce the burden on lakhs of parents but also enable students to fulfill their aspirations in pursuing courses of their choice in professional colleges.”

“Biju Babu had always accorded top priority to education. He had instituted Kalinga UNESCO Award for popularizing science when he was only 35 years old. I dedicate this scheme to Biju Babu on his birth centenary,” the CM said. 

“Now funds will not be a deterrent for young minds who aspire to make a mark professionally. I am certain the financial empowerment will enable our talented children to give wings to their dreams and bring glory to ‎Odisha,” added the Chief Minister.

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