|EDUCATION TRIBUNE||Tuesday, August 12, 2003, Chandigarh, India|
PU plans to increase govt
share in fees
fumbling incompetence in your stride
Most banks reluctant to give
loans to students
PUBLIC and private sector banks, which are flooded with surplus funds, may claim that they are more than ready to provide educational loans to ‘deserving students’, but parents and students continue to find it difficult to raise loans at reasonable rates of interest.
With the increase in the cost of education in the recent past, especially in engineering and medical courses, students of middle class families are finding it difficult to pay the fee and other expenses. Consequently, they are approaching banks to finance their children education.
However, most feel frustrated when they realise that despite Central Government and RBI's instruction, the banks are financing only a limited number of students and that too at high rates of interest varying between 10.5 per cent-12.5 per cent. On the other hand, the rate of interest for housing loans has come down to 7.5 per cent.
Mr Sukhwinder Singh, a retired police officer, who recently approached a number of banks to get educational loan for his son who had got admission in an engineering college, says: ‘‘The government may claim that up to Rs 4 lakh loan, no security is required. But I was asked to hypothicate my property papers besides FDRs to get the required loan.’’
Mr Subhash Chander, a senior official in the State Bank of Patiala, admits that despite government instructions, the banks are reluctant to advance loans to students without guarantees. However, he says: ‘‘We have financed a number of students even without guarantee. Our criteria is that the student should be a meritorious one and the course should have sufficient demand in the market.’’
He says the banks prefer engineering, medical, computer, hotel management, management and other such courses, which could ensure sufficient salary to the students later. Further, he says, the banks prefer to provide loans in cases where parents are in ‘good’ jobs and have a sound financial track record.
Another bank official says: ‘‘Theoretically students studying in arts, commerce and other undergraduate courses are eligible for educational loans. But most banks will offer one or the other excuse to decline them loans.’’ As per the government instructions, the national banks should offer up to Rs 4 lakh without any collateral security and above the sum with security and guarantee. For domestic courses, one can raise up to Rs 7.5 lakh and for foreign degrees up to Rs 15 lakh.
The State Bank of India, the Canara Bank, the ICICI, the HDFC, the Syndicate and the Punjab National Bank are the major banks which offer educational loans. The rate of interest varies from 10.5 per cent 12.5 per cent depending upon the amount and the risk factor.
Bankers claim that one should not be attracted by lower rates of interest. Rather, one should look at the final amount to be paid through equally distributed monthly instalments (EMIs) and the terms and conditions. Some banks calculate the interest on daily reducing basis, and the others on monthly reducing basis.
The State Bank of Patiala, says Mr Subhash Chander, offers educational loans up to Rs 4 lakh at 11 per cent annual rate of interest. For loans above Rs 4 lakh and up to Rs 15 lakh, the bank charges 12.5 per cent interest rate. He claims that there are no hidden charges and the interest rate is charged on a daily reduced basis. Further, there is no penalty if the loans are paid before the scheduled period.
Mr Barjinder Katyal, an employee working with Markfed, here says: ‘‘I have raised a loan for Rs 4 lakh from the bank for the education of my son who has got admission in the West London College, UK, for a year in computer networking. I have been asked to submit the general power of attorney of my house, besides one lakh FDR as guarantee.’’
He says the bank sanctioned the loan within days once he was able to show the papers confirming the admission. The bank has issued a demand draft for tuition fee and the remaining amount in the form of traveller cheques.
Mr R.K. Bajaj, a senior manager with the SBI, claims that there is no scarcity of loans for deserving candidates. But in a number of cases, parents get loans for foreign educational courses though their wards do not complete the education there. He says some of them use ‘sanction letters’ for bank loans to get visa in foreign countries. Once they get the visa, they never turn up for the loan amount. He says for this reason, the bank has begun charging Rs 5,000 as refundable fee at the time of sanctioning the loan.
He says the bank gives
discount in interest rates up to one per cent if the loan amount is
paid on schedule. The bank offers educational loan up to Rs 4 lakh at
10.75 per cent and loan above Rs 4 lakh to Rs 15 lakh at 11.75 per
cent interest rate. The SASNagar branch has sanctioned more than 10
cases during the past two months.
PU plans to increase govt
share in fees
PANJAB University is contemplating increasing the government’s share in the total fee collected from students. The idea forms part of a paper to be presented to a special committee constituted by the university to study the existing fee pattern in the university and affiliated colleges.
The university has prepared a draft paper which is based on facts collected from the responses from its affiliated colleges on all sorts of fees and funds charged from students. At least 60 colleges have responded.
The committee was constituted following pointers by Mr Ashok Goyal and Mr S.S.Hundal, both Fellows of the university Senate, in the last meeting of the House.
It was pointed out that under the existing system, there was a yawning gap in the actual fees being charged by different categories of colleges, government, government-aided and non-aided private colleges.
The difference ranged between Rs 6500 as the total annual charges in government colleges to more than Rs 15,000 annually in certain private colleges.
The matter figured at the meeting when the university was considering the issue of the massive fee hike announced by the Punjab Government.
Mr Goyal said if the government charges were applied in addition to the existing fee, a large number of students would be severely affected. This was evident from the fall in college admissions in various colleges in different districts of the state.
The committee under Prof K.N. Pathak, the Vice-Chancellor, comparison, Mr Dilip Singh, DPI (Colleges), Chandigarh, Ms Nisha Sharad, DPI (Punjab), Mr Pawan Bansal, local member of Parliament, Mr Satya Pal Jain, a former MP, Mr Radhey Sham, Prof Charanjit Chawla, Principal P.S.Sangha and Principal Tarsem Bahia.
All members are Fellows of the university Senate.
The university is also considering the name of Mr N.S.Rattan, Principal Secretary (Education), Punjab.
Prof Pathak said the government had a reason in demanding more share in collection from the students because of increased expenditure.
Prof Pathak said the fees and funds were collected under three heads — one pertaining to the government share through charges on tuition and the admission fee, second to the university share through examination funds and third to the share of colleges under different heads.
The colleges were bound to charge funds under heads approved by the university.
Interestingly, the university has learnt of certain charges from students being charged without formal approval.
The university will look into the issue. The colleges, on their part, justify these charges, saying it was difficult maintaining routine affairs in the wake of the dwindling government resources.
One of the biggest difficulties was in maintaining the required staff strength, a sizeable number of which were not covered under the government grant-in-aid scheme.
Prof Pathak said there would be an increase in the tuition and the admission fee.
The amount would be disclosed later on careful perusal of the proposed rates by the committee.
It is felt that the
government has not spelt out details of reasons for the fee hike.
Representatives from all universities should be called for a
discussion before any decision on the matter, it is felt.
fumbling incompetence in your stride
THE unbelievable incompetence of your child sometimes may drive you wild. It's time to go to school. He cannot find his pencil box. At school, his teacher complains his desk is a mess. He misplaces his work-sheet. Things keep falling from his desk. He cannot keep his papers in a notebook. Yet, he is not stupid or incapable.
He does several things with amazing dexterity. He is intelligent, alert, curious, humorous and attractive. He is strong, agile and well-coordinated. But his school papers are torn, smudged, rumpled even illegible. His teacher complains he is fidgety and distracting. There is reason for concern. Children's fumbling incompetence, say psychologists, is in many ways comparable to the reactions of men who have been under too great a stress for too long. There are but few children who do not feel while at school a certain amount of anxiety, even fear or coercion — tension that most adults would be unable to tolerate.
It is a known fact that teachers most often employ fear ("You will be sent to the principal) or anxiety (Do you want to be a butt of jokes?") as instruments of control. Most children are in constant fear of getting in the wrong with the school as this would also entail trouble with the parents.
Ridden with anxiety, children dig fox-holes for themselves at school, from which they find difficult to get out. How many of us have had nightmares about school, not having prepared for the dreaded maths exam or coming late to school, or going to a class from which, without any excuse, you have been absent for weeks. This when most of us have left school decades back!
If your child exhibits
"fumbling incompetence," there is no point in raising your
voice at him. It will make matters worse. Try to reason out his
anxieties. Help him find a way to handle his tension. Try talking to
the teacher or school counsellor. Do not push him too hard. If you do
so, you may quench his desire for intellectual nourishment. Instead of
helping him gain freedom from fear, you may chain him in fear.
Aug 20 Narsee Monjee Institute of Management Studies (NMIMS), VL Mehta Rd, Vile Parle (West) Mumbai 400056 www.nmims.edu
PGDBA (2-yr, FT; through VSAT netwkd classrooms)
Elig: Bachelor’s Deg (50%).
Selectn: NMAT, (Aug 24, 25, 26) Interview (Aug 31 M’bai, Del, K’kata, B’lore).
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MBA (Materials Mgt, 3-yr, Dist)
Selectn: Aptitude test (Aug 24).
Oct 4 Institute of Management Technology (IMT), PB No. 137, Raj Nagar, Ghaziabad 201301 www. Imt.edu
PG Dip in Exec Mgt (FT; 15 mths) Elig: Bachelor’s deg. 3 yrs wk ex at managerial level.
Appln F: Send Rs 1,000/- by DD favouring "Institute of Management Technology" payable at Ghaziabad with 2 self-add stickers indicating ph. no. to the Coordinator (Admissions) at above add.
Dec 1 Indian Institute of Management(IIM-A), Vastrapura, Ahmedabad38001www.iimahd.ernet.in/fpm Fellow Prog in Mgt (FPM)
(Agri, Bus Policy, Eco, Fin & Accg, Info Sys, Mktg, OB, P & IR, Prodn & Quant Methods, Public Sys)
Elig: Master’s deg, CA, ICWA, CS (55%) or BE/ BTech (60%).
Appln F: Contact FPM office (Tel.No. 079-6324635) at above add or download from website.
Dec 5 SP Jain Institute of Management & Research, Munshi Nagar, Dadabhai Road, Andheri (W), Mumbai 400058 (Mah)www.spjimr.orgPG Prog in Mgt (2-yr)
Elig: Bachelor’s deg.
Selectn: CAT score
Appln F: Send Rs 1000/- by DD favouring "S.P. Jain Institute of Management & Research, Mumbai" with 3 self-add stickers or from SBI br by Nov 29.
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1) PG Dip in Bus Mgt (3-yr, PT)
Elig: Bachelor’s Deg.
Selectn: CAT score, Interview.
Appln F: Send Rs. 1100/- by DD favouring "FORE School of Management," payable at New Delhi to the Chairperson, Admissions at above add or download from website.
Dec 15 NIILM Centre for Management Studies, B-II/66, MCIE, Mathura Rd, New Delhi 11004Email:firstname.lastname@example.orgPG Dip in Bus Mgt
elig: Bachelor’s Deg (50%), CAT score.
Appln F: Send Rs 650/- by DD favouring "NIILM" payable at Delhi, to above add.
Dec 27 Goa University, Sub PO Goa University, Taleigao, Goa 403206 MBA (2-yr)
Elig: Bachelor’s deg. Selectn: CAT-score, GD, Interview.
Appln F: Send Rs 700/- by DD favouring "Registrar, Goa University" payable at Panaji to the Asst Registrar III, at above add by Dec 5.
Dec 31 K J Somaiya Institute of Management Studies & Research, Vidyanagar, Vidyavihar (E), Mumbai 400077 (Mah)http://simsr.somaiya.edu
PG Prog in Mgt Studies (2-yr)
Elig: Bachelor’s deg (50%).
Selectn: CAT score, GD, Interview. Appln F: Send Rs. 1000/- by DD favouring "SIMSR" payable at M’bai to above add or download from web. Mention name, E-mail, and mailing add behind DD. Superscribe env with "Admission for PGPMS"
Aug 18 Baba Farid University of Health Sciences, Kotkapura Rd, Faridkot 151203 (Punj)
MD (Homoeo), at Shri Guru Nanak Dev Homoeopathic Medical College, Ludhiana)
Appln F: Send Rs 550/- by DD to the "Registrar, Baba Farid University of Health Sciences", payable at Faridkot to above add.
Aug 21 Professional Examination Board (MP), Chayan Bhavan, Main Road 1, Chinar Park (E) Bhopal (MP)
PG Med Courses for In-service candidates (2003-’04)
Selectn: Entrance Test (Aug 24)
Appln F: Send Rs 1550/- by DD favouring "Professional Examination Board, Bhopal", payable at Bhopal to above add by Aug 15.
Aug 29 Vardhman Mahavir Medical College & Safdarjung Hospital, New Delhi 110029
Dip in Prosthetics & Orthotics (2 `BD -yr)Elig: 10+2 (PCM/ B, Eng; 50%), Age: 17 yrsSelectn: Written Test (Sep 14)
Appln F: Send Rs 50/- by DD (from nat’d bank) favouring "Principal & Medical Superintendent, VMMC & Safdarjung Hospital, New Delhi"with stamped (Rs 25/-), self-add env (10 x 24 cm) to above add.
Aug 18 Air-India Air Transport Services Ltd
Recruitment of: .. Customer Agents (188 posts) 2.. Security Supervisors (271 posts) 3.. Security Agents (342 posts) 4.. Ground Handling Agents (159 posts)
Elig: For 1: Bachelor’s deg, prof in Comp Operations, IATA (UFTA/ FIATAA/ DGR/ 3-mnth flight handling/ training/ exp with airline; For 2: Bachelor’s deg (60%), NCC ‘C’ cert/ 2-yrs supervisory exp in security/ allied services; For 3: 10+2, 1-yr exp in Army/ Navy/ Air Force/ Police/ Security/ NCC/ Territorial Army; For 4: 10+2, ITI with NCTVT, HMV Driver’s Licence with 5-yrs exp.
Details: Employment News (Aug 2 - 8).
Sep 1 Food Corporation of India, HQ, Khadya Sadan, 16-20, Barakhamba Lane, New Delhi 110001 Recruitment of Mgt Trainees (100 posts) Asstt. Managers (Gen, A/cs, Tech, Depot) Details: Employment News (Aug 2 - 8).
Sep 22 National Council of Educational Research & Training (NCERT), Sri Aurobindo Marg, New Delhi 110016 National Talent Search Exam 2004 Elig: Cl 10 Selectn: Written Exam (May 9 ‘04)
Appln F: Contact Liaison Officers (LOs) at Regional Centres.
Govt of NCT of Delhi, (Dept for the Welfare of SC/ST/OBC/Minorities), B-Block, Vikas Bhawan II Fl, IP Estate, New Delhi 110002.
E-mail: email@example.com/ firstname.lastname@example.org. Reimbursement of Tuition Fees of SC/ ST students in public schools Elig: Delhi domicile (5 yrs), SC/ ST, Govt recog schools Appln F: Contact above add.
Distance Maharshi Dayanand University, Directorate of Distance Education, Rohtak (Har) www.hcplnet.com a.. MCA (3-yr; Lat entry in yr 2/ yr 3)
b.. MBA (3-yr)
c.. MSc (Comp Sc; 2-yr)
d.. APGDCA (1-yr)
a.. BCA (3-yr)
Elig: For 1-4: Bachelor’s deg, For 5: 10+2.
Appln F: Contact MDU study centres Details: Employment News (Aug 2 - 8)
Bundelkhand University, Jhansi 284001 (UP) www.bundelkhanduniversity.orgUG/ PG Courses:
Aug 16 Basic Sc/ Applied Sc/ Environ Sc/ Agri Sc/ Lib & Info Sc, Mass Comm & Journ, Soc Sc, Voc Studies/ Buddhist Studies/ Lang. Aug 18 Food Tech/ Life Sc / Home Sc/ Eco & Fin/ Mgt/ Law/ Tour & Hotel Mgt/ Forensic Sc & Criminol/ Phys Ed/ Rehab Sc/ Music & Fine Arts. Appln F: Send Rs 675/- by DD favouring "Finance officer, Bundelkhand University, Jhansi" to Director (SFS) at above add/ download from web.
— Pervin Malhotra, Director, CARING