Bihar government launches 'Student Credit Card Scheme', loans will be given to students at 1% interest rate

Nitish Kumar said that corporation is being set up separately to provide educational loan to students easily 12th pass.

The Bihar government has decided to give only 1 percent interest on education loan, giving great relief to the students. The Bihar Government has started the Student Credit Card Scheme in which the students will get loan upto Rs 4 lakh for higher education. However these loans will be available to girls, transgenders and physically disabled students.

CM Nitish Kumar has started State Education Finance Corporation (BSEFC) for the students' credit card scheme. Other students will get Education Loan at the rate of 4 percent under this scheme.

Nitish Kumar said that corporation is being set up separately to provide educational loan to students easily 12th pass. He said that under this scheme, students studying every stream will get a loan.

Nitish Kumar says, "It takes a lot of time for students to get a loan from the bank. Under the Student Credit Card Scheme, students will be given loan at the earliest. "