STUDENTS WILL NOW GET INTEREST-FREE EDUCATION LOAN: NITISH KUMAR

STUDENTS WILL NOW GET INTEREST-FREE EDUCATION LOAN: NITISH KUMAR

17-SEP-ENG 3

RAJIV NAYAN AGRAWAL

PATNA----------------------------Ahead of the 2025 Bihar Assembly elections, Chief Minister Nitish Kumar has made another major announcement. The Bihar government has now announced interest-free education loans for students. Chief Minister Nitish Kumar made the announcement via social media on Tuesday.

A post shared on Chief Minister Nitish Kumar's social media platform states that the Bihar Student Credit Card Scheme has been in effect since October 2, 2016, for students who have passed the 12th grade under the 7 Nischay Yojana in Bihar and wish to pursue higher education. Under the Bihar Student Credit Card Scheme, an education loan of up to ₹4 lakh for higher education is provided to general applicants at an interest rate of 0.4 percent, and to women, disabled, and transgender applicants at an interest rate of only 0.1 percent.

I am extremely pleased to inform you that the education loans provided under the Student Credit Card Scheme will now be interest-free for all applicants. Also, there was a provision to repay the education loan up to Rs. 2 lakh in 60 monthly installments (5 years), which has now been increased to a maximum of 84 monthly installments (7 years) and the loan amount above Rs. 2 lakh has been increased from 84 monthly installments (7 years) to a maximum of 120 monthly installments (10 years).

Our aim is that maximum number of students of the state can get higher education. These facilities provided in the education loan for higher education will increase the morale of the students and they will be able to get higher education with more enthusiasm and dedication and will be able to shape not only their future but also the future of the state and the country.