Everyone Deserve Education.
The Jharkhand Student Credit Card Scheme is an initiative by the government of Jharkhand that is launched to fund the higher education of the students of Jharkhand. Jharkhand, being predominantly a tribal state, is lagging in many human development indicators like Gross Enrollment Ratio, GDP per capita etc. To bridge this gap, the Jharkhand government has come up with initiatives like the Jharkhand Student Credit Card Scheme.
Jharkhand Student Credit Card Scheme - Loan Amount
Under the scheme, eligible students willing to pursue higher education will be provided with collateral-free education loans up to ₹10 lakhs at four per cent simple interest.
In addition to it, a one per cent concession in interest rates will be provided to students if the interest amount is fully serviced during the study period.
The repayment period is likely to be fixed at 15 years for all loans availed under the scheme.
Jharkhand Student Credit Card Scheme - Eligibility Conditions
The student should be a permanent resident of Jharkhand to avail loan under the scheme. The age limit, educational qualifications and other eligibility criteria will be announced once the bill is passed in the state legislature.
“Unlike the Bengal model, the scheme will also benefit students preparing for competitive exams such as JEE, NEET, UPSC CSE, railways, banking etc. in various coaching institutes of the country,” said a government official.
Jharkhand Student Credit Card Scheme - Loan For Tribal Students
Tribal students are facing difficulties in availing of education loans due to the prohibition on the purchase and sale of tribal lands by various acts of the Parliament and the state legislature.
For this purpose, the sub-committee of the Tribal Advisory Council, led by Stephen Marandi, has decided to visit the tribal-dominated states like Odisha, Chhattisgarh and Madhya Pradesh to study the loan availing scenario of tribal students.
