Nagpur: Colleges across all streams in Maharashtra are grappling with a significant financial burden as they await the disbursement of scholarship dues amounting to over Rs 2,700 crore from the government. Shockingly, some colleges have pending amounts dating back to the academic year 2011-2012. It is important to note that the mentioned amount does not include the pending funds from previous years, exacerbating the financial strain on these educational institutions. The prolonged delay in disbursing these funds has made it increasingly challenging for colleges to fulfill their obligations, including paying employee salaries.
The financial crisis primarily affects professional colleges, including those offering courses in Engineering, Architecture, Pharmacy, Medical, MBA, and other disciplines run by Self-Financed Institutes (Private Colleges). These institutions have been facing severe financial hardships for over five years, with several colleges reporting pending scholarship funds since the academic year 2010-2011. Moreover, a majority of colleges have not received funds for scholarships and other essential facilities for more than two years, intensifying their financial woes.
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Wednesday01 Jan. 2025
Scholarships are distributed to students through various departments based on specific categories. The amount allocated for scholarships given against the fees of students belonging to the Scheduled Caste (SC) category is shared by the State and Central governments in a 40% to 60% ratio, respectively.
However, the pending funds for students belonging to the Other Backward Classes (OBC) category amount to over Rs 1,700 crore for the academic years 2021-2022 and 2022-2023, excluding a portion from previous years. This significant sum further emphasizes the financial strain faced by colleges and underscores the urgency in resolving the scholarship disbursement issue.
The prolonged delay in releasing these funds has created a severe financial crisis for colleges across Maharashtra. Educational institutions are struggling to provide quality education and meet their financial obligations, including employee salaries. The pending scholarship dues pose a threat to the accessibility of education and the overall functioning of these colleges.
It is crucial for the government to address this issue promptly, ensuring the timely disbursement of scholarship funds to colleges. By resolving the pending dues, the government can alleviate the financial burden on colleges, allowing them to continue their important role in shaping the future of students and contributing to the development of Maharashtra’s education sector.
