India: agencies predict 30% drop in students going to Aus due to bank back up

Implementation of the new policy and introducing new ₹500 and ₹2,000 bank notes into circulation has put a strain on banks resulting in delays in processing education bank loans for overseas study. The backlog on granting loans affects students who are planning to enrol in an Australian university next month, according to AAERI. According to the association, up to three quarters of students choosing to study in Australia take out education loans to pay for the first semester’s tuition fees. “This has slowed down the process for bank loan sanctioning” In each intake, there…

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