On July 23, Finance Minister Nirmala Sitharaman announced a new education loan scheme in the 2024 Budget, offering up to Rs 10 lakh in loans for domestic higher education. E-vouchers and a 3% interest subsidy will benefit one lakh students annually. The scheme, expected to launch by October, will require collateral only for amounts exceeding Rs 7.5 lakh.
Government set to roll out revamped education loan scheme by October 2024: Here is all you need to know
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