Education loan NPAs: Nursing, engg students bigger defaulters than those in MBA, medicine
BENGALURU: Nursing and engineering are among the top contributors to education loan bad debt, which was estimated at 9.7% of the outstanding education loans at the end of December, 2020.
According to data compiled from all the state-level bankers’ committees (SLBCs), as of December-end (third quarter of this fiscal), Rs 8,263 crore belonging to more than 3.5 lakh accounts that have availed education loans have been classified as non-performing assets (NPAs) out of the total education loan outstanding of Rs 84,965 crore that more than 23.3 lakh accounts borrowed.
Stream-wise data shows that of the Rs 84,965 crore total outstanding amount, loans to medical students is Rs 10,147 crore (11.9%), engineering students is Rs 33,316 crore (39.2%), nursing Rs 3,675 crore (4.3%), MBA Rs 9,541 crore (11.2%) and all other streams together Rs 28,286 crore (33.2%).
In NPAs ag inst the outstanding loan amount, nursing tops the list with over 14%, followed by 12.1% in engineering, 7.1% in MBA and 6.2% in medical. Other streams together have 8.4% of the outstanding loans as NPAs.
I maybe old fashioned in my thinking, but if a student isn't ethical enough to repay education loan , doesn't augur well for his/her future
its not a free money.. its a help .. must be used by students properly.. if not banks must ruthelssly recover them from parents.. finally its tax payers money going down the drain.. all means must be put in place to recover
mandatory 2 years working in India or teaching in schools shd be done. Loan criteria shd be property guarantee from parents or sureties. Then only India can progress. Strict laws shd be in place.
Education loan to be granted only on hypothecation of physical property
Cor ion and cheating are in the DNA and blood of Indians.
To all the b students who dumped India all over the years... PADHEGA INDIA TABHI TO BADHEGA US CANADA AUR AUSTRALIA
Banks should be more careful in granting educational loans to these sectors.
Rates of interest are too high on education loans , its not about hel students but about extracting profit from them Reduce it to home loan rates and see the figures improve.
This are those students who takes loan from india for higher studies than dont return it once they get job in overseas.. this is a culture in andra, tamilnadu, gujrat
Its harder to pay off education loan if the students dont get good and secured job or a source of income
So statistically Northees are better at paying off debts as compare to Tamil chors??
If borrowers don't repay loans then slowly banks will stop giving education loans.
Throw them in Jails - use themas manual labourers for two years in infra projects
If people like nirav and mallya need not repay the banks and go Scot free , then why should students return the loan
Why should they be lagging behind, when every businessman, industrialist and farmers availing NPA / loan waiver benefits.
Nurses are highest paid employees in India please issue look out notice of defaulters and stop issuing passport unless dues are clear
Not only visas the degrees need to be tied up to the loans .
Go nment should ensure min wage. Nurses are hardly getting 10K working in india, how can they pay these loans? Being engg myself i started with 8000/month.
education has become a business now and it is getting costlier day by day the expenses are actually not something that a common man can be
need to chk mere if they got job or not. then picture will be clear