To promote education of young students and the poor, Finance Minister P. Chidambaram proposed a moratorium period for all education loans taken upto 31st March, 2009 and outstanding at the end of last December. He said, the government will take over the liability for outstanding interest as on December 2013 but the borrower will have to pay interest after this January. He said, about nine lakh student borrowers will get a benefit of about 2,600 crore rupees.