Union Education Minister Dharmendra Pradhan says, Rs 17,668 crore disbursed in education loan in 2022-23

The amount of education loans disbursed has increased from Rs 16,000 crore in 2021-22 to Rs 17,000 crore in 2022-23. Union Education Minister Dharmendra Pradhan presented data in the Lok Sabha this week, in which he discussed that the amount of education loans disbursed to the Indian youth has increased in the past year.

Pradhan told Rajya Sabha that as reported by the Public Sector Banks (PSBs), the education loans disbursed in 2020-21 was Rs 11,448 crore, which then saw a tremendous increase to Rs 16,193 crore in 2021-22. The reason behind this jump can also be that travel and visa restrictions were opening up after Covid years.

The amount of loan being disbursed kept increasing and jumped to Rs 17,668 crore in



2022-23.

Pradhan also said that as per the official data, in these three years, education loans were disbursed to about 4.07 lakh, 4.56 lakh and 4.97 lakh accounts respectively.

The data was released after A A Rahim, a member of Rajya Sabha from Kerala, had questioned the government about the total amount of loans borrowed for educational purposes in the past three years, and also asked how much the per capita amount in terms of the student population of the country.

"As per the All-India Survey on Higher Education (AISHE) 2020-21, total student enrolment in higher education is nearly 4.13 crore, which reflects that majority of students have not taken an education loan," Pradhan said in his written statement.