Education Loan in Higher Education: A Study with Special Reference to Dakshina Kannada

Abstract

Higher education plays an important role in the development of a nation, as it equips individuals with the knowledge, skills, and competencies required to contribute to various sectors of the economy. However, the rising costs of higher education have made it increasingly challenging for many students and their families to afford the expenses associated with pursuing advanced degrees. This financial barrier has the potential to limit access to higher education, particularly for students from economically disadvantaged backgrounds. Education loans have emerged as a crucial financial aid instrument, enabling students to overcome the financial limitations and pursue their academic aspirations. In the context of Dakshina Kannada district, which is known for its rich educational heritage and a significant number of higher educational institutions, the availability and accessibility of education loans have become increasingly important. The district boasts a diverse range of colleges and universities offering various courses in fields such as engineering, medicine, arts, commerce, and sciences. However, the high costs associated with these programs, including tuition fees, accommodation, and other expenses, can pose a significant financial burden for many families.
The study reports are the findings from a survey with reference to Dakshina Kannada district of Karnataka. A questionnaire was administered to 30 respondents in the study area. The analysis of the findings states that the percentage mean shows that there is a significant difference (75%) in perception towards Education Loan in Higher Education. Thus, Null hypothesis has to be rejected. It is inferred that there is a significant relation among various components of Education Loan in Higher Education.