New Delhi. Bihar Chief Minister Nitish Kumar has now announced to give interest free education loans for the students of the state. Along with this, the time period of repaying education loan has also been increased by improving the Bihar Student Credit Card Scheme. Students who have passed 12th can avail this government scheme for higher education. Nitish Kumar said that the Bihar Student Credit Card Scheme is applicable from 2 October 2016 for those students who have passed the 12th standard under the seven decision scheme in Bihar. Under the Bihar Student Credit Card Scheme, a maximum education loan of Rs 4 lakh is given to the general applicant at 4 percent interest rate and women, disabled and transgender applicants are given at just 1 percent interest rate. Now the amount of education loan given under the Student Credit Card Scheme will be interest free for all applicants.
Also, there was a provision to return education loans up to Rs 2 lakh to 60 monthly installments (5 years), which has now been increased to increase the loan amount from 84 monthly (7 years) and more than 2 lakh loan amount from 84 monthly (7 years) installments to maximum 120 monthly (10 years) installments. Chief Minister Nitish Kumar said that the aim of the government is that more and more students of the state can get higher education. These facilities provided in the education loan provided for higher education will increase the morale of the students and they will be able to improve their future as well as the future of the state and country by getting higher education with more enthusiasm and dedication. It is worth noting that earlier the Chief Minister has made many announcements for the women, elderly, disabled etc. of the state.
