Stakeholder consultations on waiver of education loan of Ukraine returned students

The Central government informed the Parliament that it is planning to start stakeholder consultations on the waiver of education loans for Ukraine returned students.

The government apprised the Parliament that Ukraine returned students have availed of education loans with an outstanding balance of INR 121.61 crore, now the government is planning to start stakeholder consultations on waiver of these education loans.

Finance Minister Nirmala Sitharaman said in the Parliament that as of December 31, 2021, 1,319 Indian students had availed of education loans to study in Ukraine with the outstanding balance amounting to INR 121.61 crore.

While replying to the query that whether the government was planning any loan waiver or interest relief for such students, she said, “As per the information received from public sector banks and 21 private sector banks, from the Indian Banks’ Association, as on December 31, 2021, 1,319 students had availed of education loan for study in Ukraine with outstanding balance of Rs 121.61 crore,” as reported by Tribune India.

Govt closely monitoring developments

She said the current situation was fluid and the government was closely monitoring the developments.

“Implications of the ongoing conflict can be assessed and remedial steps considered only once the situation has stabilised. In the meantime, the government has decided to ask the Indian Banks’ Association to assess the impact of the conflict on outstanding education loans of the returnee students and to initiate stakeholder consultations in this regard,” she added.

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