'Collateral-free education loans up to Rs 7.5 lakh extended to students': Tamil Nadu Minister K Viswanathan

Chennai: Tamil Nadu Higher Education Minister K Viswanathan on Saturday said the state government is committed to ensuring that no student is denied access to higher education due to financial constraints and is working to expand education loan facilities.

Speaking to reporters on the sidelines of the birth anniversary celebrations of Ethiraj College founder M Ethiraj, the Tamil Nadu Minister said that education loans were provided extensively to students during the UPA government led by former Prime Minister Manmohan Singh from 2004 to 2014.

He said the state government has set a target of facilitating education loans for 1,00,200 students during the 2026-27 academic year, with loans amounting to around Rs 3,000 crore expected to be disbursed.


Viswanathan added that Chief Minister Joseph Vijay has prepared a comprehensive framework under which collateral-free education loans of up to Rs 7.5 lakh are being extended to students.

"Chief Minister Joseph Vijay has prepared a comprehensive framework under which collateral-free education loans up to Rs 7.5 lakh have been extended to students. The CM has taken a firm decision that no student should be prevented from pursuing higher education due to a lack of financial resources," he said.

On appointments in universities, the Minister denied allegations of corruption in the appointment of deans and Syndicate members, stating that the Chief Minister was personally monitoring the process.

On the Naan Mudhalvan scheme, Viswanathan said it was launched by the previous DMK government and added that the present government had taken its own policy decisions after assuming office, which he described as a normal practice following a change in government.

The Naan Mudhalvan ("I am the First") scheme is a skill development initiative by the Tamil Nadu government. Launched in 2022, it equips students and youth with industry-relevant skills, coding, robotics, and spoken English. It also offers scholarships and coaching for Union government exams.