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This is an archive article published on May 1, 2012

Educational loan at a record high in Kerala

Fuelled by the booming self-financing higher education sector,the educational loan portfolio of Kerala banks has touched an all-time high of Rs 10,632 crore

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Fuelled by the booming self-financing higher education sector,the educational loan portfolio of Kerala banks has touched an all-time high of Rs 10,632 crore in the third quarter of the last fiscal,as per State Level Bankers Committee data. In 2001,the outstanding educational loans disbursed by banks in Kerala were only Rs 38 crore.

The SLBC says 3,50,574 students in Kerala had availed educational loans until 2011. What worries the bankers is that Rs 447 crore of these loans have become non-performing assets. A sizeable chunk of loans has gone to the low-paid nursing sector. On Monday,a nursing student committed suicide after she was allegedly denied an educational loan.

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