Students from disadvantaged economic backgrounds will no longer face financial problems in pursuit of higher education as the government is set to launch an interest subsidy scheme on educational loans taken by them.

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“The government is launching a new scheme on interest subsidy on educational loans taken for professional courses by economically weaker students,” Human Resources Development Minister Kapil Sibal told reporters here today.

The scheme, which is awaiting the approval of the Cabinet, is intended to make funds available for higher education to a large community of deserving students.

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