A Study on Education Loan System in Ambikapur Chhattisgarh

The most significant tool for bringing about social, economic, and political change is education. It is essential to the empowerment of every citizen, especially the young, and to the development of human resources in every nation. In the federal structure of the Indian Constitution, the concurrent list includes education, allocating duties equally to the Central and State governments. Therefore, national and state policies are designed to make sure that this population’s basic need is satisfied through suitable public and private sector activities. The right to education has been elevated to a fundamental right, making it necessary for the government to offer primary education to everyone on a universal basis. However, further education is considered as gradually shifting to the purview of private institutions. As a result, government support for higher education has been gradually reduced, increasing the cost of attending college. Accessibility, affordability, and equity have been regarded as the three guiding principles for educational policy, but the rising expense of higher education has become a significant obstacle for decision-makers. As a result, there is an increasing awareness of the urgent need for institutional funding in this field. Higher education is crucial to provide the necessary skills and knowledge required to remain competitive in the current globalised environment governed by the market economy, in addition to the paramount need for developing human capital and promoting equity in a developing society like India.