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Bihar CM Nitish Kumar announced that all education loans under the Student Credit Card Scheme will now be interest-free, with extended repayment periods for students.
Nitish Kumar makes Bihar Student Credit Card loans interest-free with extended repayment options.
Bihar Chief Minister Nitish Kumar on Monday announced a major reform under the state’s flagship Student Credit Card Scheme, launched in 2016 as part of the Saat Nischay Yojana.
बिहार में 07 निश्चय योजना के अंतर्गत 12वीं कक्षा उत्तीर्ण छात्र जो उच्च शिक्षा प्राप्त करना चाहते हैं उनके लिए 02 अक्टूबर 2016 से बिहार स्टूडेंट क्रेडिट कार्ड योजना लागू है। बिहार स्टूडेंट क्रेडिट कार्ड योजना के अंतर्गत उच्च शिक्षा प्राप्त करने के लिए अधिकतम 04 लाख रुपए का शिक्षा…— Nitish Kumar (@NitishKumar) September 16, 2025
The scheme, which provides financial support to Class 12 pass students aspiring for higher education, earlier offered education loans up to Rs 4 lakh at 4% interest for general applicants and just 1% for women, differently-abled, and transgender students.
Sharing an update on social media, Kumar said that in the future, the loans provided under this scheme will be completely interest-free for all applicants.
He further added that the repayment period has been made more flexible. Previously, loans up to Rs 2 lakh had to be repaid in 60 monthly instalments (five years), which has now been extended to 84 instalments (seven years). For loans above Rs 2 lakh, the repayment tenure has been extended from 84 instalments (seven years) to 120 instalments (10 years).
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“Our aim is to ensure that more and more children of Bihar get the opportunity to pursue higher education. With these new provisions, students will gain confidence and pursue education with greater enthusiasm, securing not only their own future but also that of the state and the country,” the Chief Minister said.
A team of reporters, writers and editors brings you news, analyses and information on college and school admissions, board and competitive exams, career options, topper interviews, job notifications, latest in …Read More
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September 16, 2025, 12:37 IST
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