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HRD to grant interest-free loan to all IIT students

In a bid to reduce the financial burden on students and parents by the recent hike in the IIT fees, the HRD ministry announced that students will be granted an interest-free loan for the entire tuition fee. This will be done under the government's Vidyalakshmi scheme at the time of a student’s admission.

The IIT fee for undergraduate courses has been increased from Rs 90,000 to Rs 2 lakh per annum. The Ministry justified their decision by stating that the cost of maintenance of IITs should be met largely from fees. 

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