Inter-State Disparity in Education loans in India: An Intertemporal Analysis
Abstract
The fiscal constraints of the government and the increasing demand for education from the masses have led to finding out some alternative sources for funding education in general and higher education in particular. Education loans has become one of the alternatives for financing higher education all over the world. In India, since the announcement of the Model Education loans Scheme in 2011, commercial banks have come forward to finance higher education. Now, education loans has seen increasing relevance and hence the flow of education loans is increasing year by year. However, a look at the disbursal of education loans in India shows its skewed distribution among various states and regions. The South Indian States are found to be the major beneficiaries of the scheme, while bigger states like UP and Bihar are lagging behind. So, this uneven distribution of education loans vitiates the very purpose of this scheme. In this context, this article examines the growth of higher education and the growth of education loans in India
Downloads
References
Agarwal, P., & Kamalakar, G. (2013). Indian higher education: Envisioning the future. The Indian Economic Journal, 61(1), 151-155.
Altbach, P. G. (Ed.). (1999). Private Prometheus: Private higher education and development in the 21st century (No. 77). Greenwood Publishing Group.
Anthony, S. (1999). Student income and study behaviour in Denmark. European journal of education, 34(1), 87-94.
CARE Ratings Ltd. (2018). Education loans Sector in India: Product Differentiation and Specialised Approach Critical for Profitable Growth, Report, March 29. CARE Ratings Ltd.
Chalil, K. (2021). Financing Higher Education through Education loans in India: Current Status, Challenges and Future Prospects. Orissa Journal of Commerce, 42(1), 116-131.
Chalil, K. (2022). Trends in NPAs of Education Loans in India. Third Concept (UGC Care), 35(419), 21-21.
Chattopadhyay, S. (2007). Exploring alternative sources of financing higher education. Economic and Political Weekly, 4251-4259.
Eicher, J. C. (1998). The costs and financing of higher education in Europe. European Journal of Education, 33(1), 31-39.
Government of India. (2011). All India Survey on Higher Education 2010-11. New Delhi: Department of Higher Education, Ministry of Human Resource Development.
Government of India. (2019). All India Survey on Higher Education 2018-19. New Delhi: Department of Higher Education, Ministry of Human Resource Development.
Government of India. (2019). Loksabha, Unstarred Question No. 2189, New Delhi: Government of India
Hauptman, A. M. (1999). Ideas on Higher Education Funding: Internal Financing of Student Loans. International Higher Education, (16).
Indian Banks’ Association. (2001). Model Educational Loans Scheme for Pursuing Higher. Education in India and Abroad
Krishnan, C. (2020). Role of Financial Institutions in Human Capital Development: Is Education loans an alternative source of financing higher education in India? Research Project Report submitted to the Inter University Centre for Alternative Economics, Department of Economics, University of Kerala,
Mittal, P. & Pani, A. (2020). Measuring Access to Higher Education through Eligible Enrolment Ratio (EER), (IU Research Report 1/2020). Association of Indian Universities, New Delhi.
Narayana, M. R. (2005). Student loans by commercial banks: A way to reduce state government financial support to higher education in India. The Journal of Developing Areas, 171-187.
Panigrahi, J. (2010). Determinants of Educational Loans by Commercial Banks in India. Journal of Educational Planning and Administration, 24(4), 379-400.
Puttaswamaiah, S., & Endowment, C. B. (2010). Financing Higher Education: A Study of Educational Loans. Centre for Multi-Disciplinary Development Research.
Rani, P. G. (2004). Economic reforms and financing higher education in India. Indian Journal of Economics and Business, 3, 79-102.
Rani, P. G. (2016). Financing higher education and education loans in India: Trends and troubles. Journal of social science, 12(4), 182-200.
Reserve bank of India. (2020). Master Directions - Priority Sector Lending (PSL) - Targets and Classification., RBI/FIDD/2020-21/72, Master Directions FIDD.CO. Plan.BC.5/04.09.01/2020-September 21 04, 2020, https://www.rbi.org.in
Reserve Bank of India. (2021). Changes in Sectoral Bank Credit Allocation: Developments since 2007-08, RBI Bulletin. Reserve Bank of India
Reserve Bank of India. (Various Years). Hand Book of Statistics on the Indian Economy. https://www.rbi.org.in
Sharma, V. (2013). Impact of Neo-liberal Policies on Education and the Consequent Policy and Legislative Issues. https://vijendersharma.wordpress.com/2013/06/15/impact-of-neo-liberal-policies-on-education-and-the-consequent-policy-and-legislative-issues/
Stiglitz, J. E. (1998). More Instruments and Broader Goals: Moving toward a Post-Washington Consensus. The 1998 WIDER Annual Lecture. Helsinki: WIDER.
Stiglitz, J. E. (2003). Information and the Change in the Paradigm in Economics. In Arnott, R. Greenwald, B., Kanbur, R. & Nalebuff, B. (eds), Economics for an Imperfect World: Essays in Honor of Joseph E Stiglitz. Cambridge: The MIT Press.
UNESCO. (2014). Average higher education gross enrolment ratio (%). UNESCO Institute for Statistics
Varghese N. V. & Panigrahi, J. (2018). Financing of Higher Education: An Introduction, in India Higher Education Report 2018: Financing of Higher. Sage Publications Ltd.
Copyright (c) 2023 Akanksha Kumari, Krishnan Chalil, PhD
This work is licensed under a Creative Commons Attribution 4.0 International License.
