Advertisement
Canada markets closed
  • S&P/TSX

    22,167.03
    +59.95 (+0.27%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CAD/USD

    0.7385
    -0.0002 (-0.02%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • Bitcoin CAD

    94,920.38
    -495.00 (-0.52%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • RUSSELL 2000

    2,124.55
    +10.20 (+0.48%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • NASDAQ

    16,379.46
    -20.06 (-0.12%)
     
  • VOLATILITY

    13.01
    0.00 (0.00%)
     
  • FTSE

    7,952.62
    +20.64 (+0.26%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • CAD/EUR

    0.6837
    -0.0006 (-0.09%)
     

COVID-19 Effect: Banks Mull Offering Loans to Students For Studying From Home

New Delhi, July 15: The coronavirus (COVID-19) outbreak has forced educational institutes to conduct online classes where students can continue learning from home. To help students pursue online education amid the COVID-19 pandemic, state-owned banks are considering offering loans to students for studying from home. According to a report by Times of India, certain changes could be made to existing rules for education loans. The Era of Online Classes: A Struggle For Kindergarten Kids, Parents And Teachers.

Also Read | Amitabh Bachchan Posts Spiritual Tweets While Getting Treated For COVID-19

Banks may tweak existing higher education loans for online classes being held by colleges and universities. A proper set of rules could arrive once educational institutions formulate new fee structures for the courses which are now set to be held online. "With a lot of talk around shifting to digital, we have to frame education loan policies for the same," M Aruna, Deputy General Manager of Indian Bank, was quoted as saying. Hackers Breach Online Class in Kolkata, Threaten Girl Students With Rape And Murder.

Banks anticipate that fee for online classes would be lower than regular classes as there will be no practical or exam charges. "So, we are yet to know how the fee structure would change (i.e) will be reduced. The information on change in fee structure has to be produced by the accredited colleges," S Kanimozhi, Deputy General Manager of Canara Bank, said. Some institutes have tied up with banks.

ADVERTISEMENT

Also Read | F-1 Visa Ban Update: Trump Administration Rescinds Rules on Foreign Students Studying Online

For example, IIT-Madras has introduced a full-time online course in Programming and Data Science, and held talks with the State Bank of India. "We have engaged in informal discussion with the SBI which has its branch on our campus. Once the admission begins, we will provide the course structure to the lender. We have received a positive response from the bank so far," said professor Andrew Thangaraj, Coordinator, NPTEL-IIT Madras.