29 Feb Educationists Welcome HEFA
Rajan Saxena, vice-chancellor, NMIMS University, also welcomed the move to set up the HEFA. “There has been a long-standing need for the establishment of HEFA which could finance both the institution and the student at interest rates which are lower than that of the commercial banks. The agency should help new or existing education institution source long-term loan facility with interest rates at par with base rate or prime lending rates of commercial banks for a tenor up to 15 years with step-up repayment plans,” said Saxena.
Sharing his views on HEFA, IIT-Kanpur Director, Indranil Manna, said, “All the five older IITs are in desperate need of funds for infrastructural development. Any funding that targets this requirement will be welcomed, provided the repayment model is feasible for us. The repayment model is not yet clear. We may get fund for sponsored research, but no agency will be providing us funds for developing laboratories, departmental buildings, faculty and students’ housing. Hence, a government funding agency was the need of the hour.”