Behind the Books: The Burden of Bad Education Loans in India
India faces a unique problem of bad education loans. While there is an increasing attempt to universalise higher education, there are a number of socio-economic factors that have not allowed the student loans system to flourish. The state-wise demographic of borrowers speaks of the inaccessibility and unawareness of financial aid systems in many parts of the country. Consequently, Public Sector Banks (PSBs) are heavily burdened with the rising number of NPAs and protecting unemployed defaulter students is becoming increasingly difficult.