Students from weaker economic backgrounds will now get education loans at four per cent per annum. The Ministry is Human Resource Development is considering an institutional mechanism for ensuring affordable access. <br/><br/>The conference of State Education Ministers on Friday will discuss among other things the setting up of a National Education Finance Corporation as institutional mechanism to help students and institutions get low interest loans.<br/><br/>AIR correspondent reports that students whose parental income is more than 4.5 lakhs rupees, the loan is expected to be available at seven per cent per annum provided the loan amount is less than 12 lakhs. <br/><br/>The move is aimed at encouraging more students to avail the benefits of banking facilities and achieve a higher enrolment in higher studies. Banks had given 35,000 crore rupees for education loans last year. The government has set a target to increase the amount 1,66,541 crore rupees in 2020. This would help increase the enrolment ratio from present 12 per cent to 30 per cent by 2020.