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A Study on the Awareness Level of Borrowers of Education Loan
Authors: Mohandas A & Satheesh Ek
Number of views: 677
Education has a pivotal role in the socio economic development of a nation. It is considered as a supplier of input
for economic, political and social development. India is now the third largest country in the world in terms of volume and
diversity of higher education system. However, now, governments are withdrawing from funding to the higher education
due to the financial constraints. The institutions in government sector were insufficient to meet the increased demand for
higher education. It gave birth to the private sector unaided institutions in the higher education sector. As of now, about 64
percent of the institutions in higher education system in India are in the private unaided sector. While comparing the cost
of higher education in government and government aided institutions, it is extremely high in the case of institutions in the
private unaided sector. In order to tackle this problem, Government introduced education loan scheme. Kerala is the second
largest state in the country in distribution of education loans. However, the borrowers of education loan in the state are not
aware regarding the various aspects of the scheme. Present study is an attempt to analyse the awareness level of the
borrowers of education loan in Calicut district. The study testifies that the borrowers are not properly aware about the
various aspects of the scheme. There is no significant difference in the awareness level of the borrowers with regard to type
of bank, type of programme and income level.