Chief Minister Pramod Sawant has announced that students from Scheduled Caste (SC), Scheduled Tribe (ST), Other Backward Classes (OBC), persons with disabilities and economically weaker sections will be able to avail of education loans at an interest rate of 4 per cent.

Announcing the new initiative, Sawant said the scheme is aimed at helping students pursue higher education by providing access to loans at a lower interest rate.

The announcement was made during an event where the Chief Minister also distributed loan closure certificates to beneficiaries whose loans had been waived under the government’s **Mukhyamantri Bahujan Utkarsh Yojana**.

Under the scheme, the government has waived interest on loans availed through the OBC Corporation, while loan relief has also been extended to certain beneficiaries.

Sawant handed over loan closure certificates to beneficiaries whose outstanding loans had been settled under the government’s initiative.

The Chief Minister said the new education loan provision would provide financial support to students from disadvantaged and economically weaker backgrounds and enable them to pursue higher education without facing the burden of high interest rates.

The government said the initiative is part of its efforts to improve access to education and provide financial assistance to eligible students from various disadvantaged sections.