The implementation of the Right to Education (RTE) Act will leave finances for higher education in a tight spot.
With the government contemplating on increasing the proportion of students enrolling into higher education, H Chuturvedi, alternate President of Education Promotion Society for India (EPSI) emphasised the need for private players to invest in the same.
Although the government is contemplating increasing the number of students entering higher education by 2.6 crore by 2021, the implementation of the RTE Act will make finances tight.
“There is less resources for higher education. While an investment of Rs10 lakh crore has to be made, there is only Rs3 lakh crore in hand for the next 10 years. For the RTE Act to be implemented, the expenditure every year will be Rs70,000 crore. Here’s where the investment of private players will come into play,” he said.
Issues related to higher education were debated while announcing the setting up of the regional chapter in Bangalore, EPSI, which is expanding its activities to Karnataka and Kerala in July.“We are requesting the government to hold talks with the stakeholders. With their support, the present Gross Enrolment Ratio (GER) that currently stands at 15 % can be increased to 30 % by 2012,” said Dr G Viswanathan, president of EPSI.
Education loans
On education loans, Viswanathan said that a proposal has been submitted to the prime minister, finance minister, reserve bank of India ministry of human resources and development. The system should be made more “liberal” since it is currently making it difficult for students to avail education loans, he added.
We have suggested that students must be given more time to pay off their loan, he said. The payment period should be increased to 20-25 years and the embargo period, after 5 years. There should be a mention of the loan on the degree/diploma certificate, and it is the duty of the employer to deduct that amount from the recruit’s salary, he said.
It has also been suggested that the interest percent be reduced to 5 % rather than the current 11%-13 %.
Coming down on the Regulatory Authority for Higher Educational Institutions Bill, 2010, Viswanathan said that the current bill states that all higher education institutes should get an accreditation right at the beginning of the course.
“This is a draconian law because the head of an institution is punished for not applying for accreditation or for applying and not getting accreditation,” he said.
On Wednesday a consultation meeting was held where 45 universities and colleges, heads of institutions participated. A one day convention will be held in Bangalore on July 28th where issues pertaining to central and state level education will be discussed.
With the government contemplating on increasing the proportion of students enrolling into higher education, H Chuturvedi, alternate President of Education Promotion Society for India (EPSI) emphasised the need for private players to invest in the same.
Although the government is contemplating increasing the number of students entering higher education by 2.6 crore by 2021, the implementation of the RTE Act will make finances tight.
“There is less resources for higher education. While an investment of Rs10 lakh crore has to be made, there is only Rs3 lakh crore in hand for the next 10 years. For the RTE Act to be implemented, the expenditure every year will be Rs70,000 crore. Here’s where the investment of private players will come into play,” he said.
Issues related to higher education were debated while announcing the setting up of the regional chapter in Bangalore, EPSI, which is expanding its activities to Karnataka and Kerala in July.“We are requesting the government to hold talks with the stakeholders. With their support, the present Gross Enrolment Ratio (GER) that currently stands at 15 % can be increased to 30 % by 2012,” said Dr G Viswanathan, president of EPSI.
Education loans
On education loans, Viswanathan said that a proposal has been submitted to the prime minister, finance minister, reserve bank of India ministry of human resources and development. The system should be made more “liberal” since it is currently making it difficult for students to avail education loans, he added.
We have suggested that students must be given more time to pay off their loan, he said. The payment period should be increased to 20-25 years and the embargo period, after 5 years. There should be a mention of the loan on the degree/diploma certificate, and it is the duty of the employer to deduct that amount from the recruit’s salary, he said.
It has also been suggested that the interest percent be reduced to 5 % rather than the current 11%-13 %.
Coming down on the Regulatory Authority for Higher Educational Institutions Bill, 2010, Viswanathan said that the current bill states that all higher education institutes should get an accreditation right at the beginning of the course.
“This is a draconian law because the head of an institution is punished for not applying for accreditation or for applying and not getting accreditation,” he said.
On Wednesday a consultation meeting was held where 45 universities and colleges, heads of institutions participated. A one day convention will be held in Bangalore on July 28th where issues pertaining to central and state level education will be discussed.
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