The government has proposed to set up a 'credit guarantee fund' to address cases of education loan defaults, in a move which could enhance the flow of assistance to students.
While a scheme of interest subsidy on education loans to students of weaker sections is already in place, the new fund "will address cases of education loans defaults which add to the burgeoning non-performing assets of the bank", the UPA government's Report to the People 2012-13, released today, said.
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