Giving great relief to the students, Bihar government has issued a new update in the Student Credit Card Scheme.

Bihar News: Bihar government has issued a new update in the Student Credit Card Scheme, giving great relief to the students. Under the leadership of CM Nitish Kumar, this scheme has now become accessible and helpful to more students. Under the scheme, loans up to Rs 4,00,000 are given to students for higher education. Earlier interest was charged on this loan, but now on the instructions of CM Nitish Kumar, the entire interest has been waived off. Read the full news…

Big relief to students

Many students of Bihar will benefit after this new announcement. Along with the working students, the interest amount has also been waived off for the students who have not got employment yet. Apart from this, the repayment period of students’ loans has also been extended. Earlier the time limit for deposits up to Rs 2,00,000 was 5 years, now it has been reduced to 7 years. At the same time, the loan tenure up to Rs 4,00,000 has been extended to 10 years.

New update in student credit card scheme

Sangeeta Kumari, Assistant Manager Planning at Jehanabad DRCC office, said that extensive amendments have been made in this scheme. Now all the students who have obtained loan through student credit card, their interest amount has been completely waived off. With this scheme, the EMI of the students will reduce and they will have to return only the principal amount.

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Students will benefit from the new payment period

• Tenure for loans up to Rs 2,00,000 increased from 5 years to 7 years

• Tenure for loans above Rs 2,00,000 increased from 7 years to 10 years

CM Nitish Kumar has tried to reduce the financial worries of students and encourage higher education through this initiative. This step will not only reduce the EMI of the students but will also provide them more facilities and support in getting education.