This is a kind of tragedy for both the value system as well as the financial assistance provisions for studies that one hardly finds easy educational loans. The environment in education being cut-throat competitive with cost of higher education rising uniformly at a high rate is alarming. It’s one more aperture for youngsters rejecting the very system and adopting unfair means. Hence the problem stands. None can deny the necessity of student loans for the present situation, but constructive suggestions for a solution are few. Various banks and other financial institutions come up with the lucrative plans this direction. But their primary motive is to have a same money investment opportunity and this may be well expected in a market economy. Thus all the loan facilities available for students to pursue studies merely rest as business ventures for financial market. The student welfare facet of these loans remains untouched save a few scholarships provided by universities which again are marginal in comparison to the cost of studying.
The situation presently calls for addressing the problem from process of repayment of educational loans, because grant of loan for studies has managed to receive comparably substantial attention so far. What really needs to be done is the cutting down of interest rates to zero especially for students and generally for all sorts of loans. The main philosophy behind is encouraging youngsters to pursue higher education as well as making the capitalist invest more in factors of production rather than putting money in banks and blocking flow of money.