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Three per cent of Indians seek education loans: ASSOCHAM study
Only three per cent of students seek education loan in India as against 85 per cent in the UK and 77 per cent in the US, according to a study by industry body ASSOCHAM. The reasons are a cumbersome procedure and the small amount offered, says the study. An additional investment towards education is required, says the study. India has 348 universities and 17,973 colleges today. It produces 3,50,000 engineering graduates and 60,000 MBAs annually.
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