CM Naidu unveils student loans with 25 paisa interest

Amaravati: Chief Minister Nara Chandrababu Naidu on Monday announced an initiative offering student loans at just 25 paisa interest rate for those pursuing higher education in India or abroad. The state government will stand as loan guarantor, with a 14-year repayment window, easing financial stress for aspiring students and scholars.

The Chief Minister said the scheme aims to make higher education accessible to all, especially students from disadvantaged backgrounds. “No dream should be limited by financial constraints,” he said during a review meeting on welfare programmes at the Secretariat.

In a major boost for students from Backward Classes (BCs), the government will set up two exclusive coaching centres to train candidates for IIT and NEET entrance exams. Naidu also reviewed welfare measures for SC, ST, BC, minority, and physically challenged communities, directing officials to upgrade welfare hostels into full-fledged residential schools with better infrastructure.

He instructed the departments to install solar rooftops in these hostels to reduce power costs and promote sustainability. Naidu congratulated 312 BC residential school students who recently secured admission to IIITs, some of whom met him earlier in the day.

Naidu also directed officials to fast-track the “One family, one entrepreneur” mission, intended to encourage entrepreneurship and self-reliance among marginalized families. He also ordered the clearing of pending payments to imams and pastors and suggested distributing gas-powered iron boxes to washermen to modernize their trade.

Calling for the use of technology in traditional occupations, Naidu emphasized skill upgradation and diversification of income sources for economically weaker communities. Ministers Dola Balaveeranjaneya Swamy, N Md Farooq, and S Savita participated.