What is the significance of credit guarantee cover extension in revamped Model Skill Loan Scheme
Exploring the impact of extending credit guarantee cover in the Model Skill Loan Scheme.
The extension of credit guarantee cover in the revamped Model Skill Loan Scheme has various significant impacts:
- It reduces the risk for lenders, encouraging them to provide loans to more skill development aspirants.
- Enables easier access to credit for individuals pursuing skill development courses, resulting in increased enrollment rates.
- Reduces the financial burden on students by providing them with access to affordable credit options.
- Promotes skill development initiatives by making education loans more accessible and affordable.
- Facilitates the growth of the workforce with relevant skills, contributing to overall economic development.
Answered
9 months ago