Indian demand for education reflected in soaring student loan values

As demand for higher education expands throughout India's massive middle class, so is the need for increased financing. Student loan values are growing at rates of 20–30% per year in recent years and the Indian Banks' Association reports a 120% increase in loan applications over the five years from 2004–2015 to 2009–2010. Indian banks typically lend up to the equivalent of US$20,300 for studies within India, and roughly double that for overseas study. For more, please see "Soaring demand doubles student loan numbers" in University World News.