DW BUREAU / Lucknow The north India's leading educational institution in private sector -- Chandigarh University (CU) -- on Wednesday announced Rs 48 crore financial assistance programme for needy meritorious students, who have been hit by the impact of coronavirus. "The programme intends to help out nearly 3,000 students. Under this programme, we are estimating to extend 10 per cent to 100 per cent help to the need deserving students," said CU Chancellor Satnam Singh Sandhu here today. He also said that the CU is also collaborating with banks to extend education loan to around 15,00 students. "We at CU are doing our level best to ensure that no one in our university has to compromise with his or her educaiton due to financial constraints caused by the coronavirus pandemic. In fact, we all need to rise to the occasion and help out the needy as education and health are the two key tools to achive the goal of our holistic development," added Singh. "We have to protect the student community's right to quality education. Rs 48 crore financial assistance can be availed by the meritorious and deserving students under the newly launched scheme from any part of India so that they are able to fulfill their aspiration to get quality higher education,"he said. Sandhu said that getting access to quality education is a fundamental right for every student and financial constraints should not pose any hinderance in the path of deserving and meritorious students and the newly launched scheme is based on the financial assistance policies extended by top universities in Western countries like the USA, the UK, Canada to attract the best of talent across the world. The first of its kind in India, the financial aid will be offered on merit and first-come-first-serve basis, which would be applicable to all the 109 under-graduate and Post-Graduate programs offered by the university for 2020 academic batch. The CU Chancellor further said that currently the world is going through challenging times due to COVID-19 crisis, which has resulted into massive job losses or salary cuts across the sectors which may put an impact on education of the children. "The Rs 48 crore Financial Aid Scheme will offer financial assistance up-to 100 per cent to the deserving students who have the zeal to learn but their parents do not enough funds to support them," added Sandhu, who also launched online portal www.aid.cuchd.in where the students can apply for financial assistance. Explaining the process to avail financial assistance, Sandhu said: "The student needs to register with his or her credentials through the online portal. Application will be scrutinised by the committee comprising of senior authorities of the university which will then recommend the quantum of financial aid which will be automatically communicated to the student through online portal." Sandhu said: "Chandigarh University has signed MoUs with consortium of public and private sector banks, which will offer collateral free education loans to the students. CU will offer all possible support to get the education loan processed by the banks in shortest possible time for which a new Department of Financial Assistance has been established by the university." (editor@dailyworld.in)