Jharkhand Student Credit Card Scheme 2021 – Loans to Students fof Higher Studies


Jharkhand Student Credit Card Scheme – CM Hemant Soren led state govt. is going to launch a new Jharkhand Student Credit Card Scheme 2021. This scheme will be based on West Bengal Student Credit Card Scheme which provide soft loans upto Rs. 10 lakh to students to enable them to pursue their higher studies. This Jharkhand SCC scheme has been finalized by the Higher and Technical Education department. In this article, we will tell you the eligibility, launch, features and other important aspects regarding the Jharkhand Student Credit Card Scheme.

What is Jharkhand Student Credit Card Scheme 2021

Jharkhand government will give loan without guarantee for higher education, student credit card scheme will be started. Jharkhand Student Credit Card Scheme is going to be announced by Chief Minister Hemant Soren at a function to mark two years of the JMM-led UPA government on 29 December 2021. Under SCC scheme in Jharkhand, students can get loans amounting upto Rs. 10 lakh to pursue their higher studies.

Jharkhand SCC Scheme Based on West Bengal Model

Jharkhand student credit card scheme has taken inspiration from WB govt. led by CM Mamata Banerjee and is loosely based on the West Bengal model. The new Jharkhand SCC scheme is going to be tabled during the budget session of the assembly for a formal nod in February-March 2022. The Jharkhand Higher and Technical Education department is working on nitty-gitty of the scheme. The Jharkhand Student Credit Card scheme aims to benefit tribal students who face problem in getting educational loans.

Jharkhand Student Credit Card Scheme Announcement

During the launch of the Marang Gomke Jaipal Singh Munda Overseas Scholarship scheme for tribal students in Ranchi in September 2021, CM Hemant Soren had said the government is working on plans to facilitate higher studies for other communities too. CM said “Lack of education is the cause of most of the problems confronting the state. Our government is working on supporting students of other communities to pursue higher studies, be it in the country or overseas”.

Loan Amount in Jharkhand SCC Scheme

Under Jharkhand student credit card scheme, the government will help students to get a soft loan of up to Rs. 10 lakh for higher studies with the help of a credit card.

Eligibility Criteria for Jharkhand Student Credit Card Scheme

  • A student will have to be a resident (domicile) of Jharkhand to avail the benefit of JSCC scheme.
  • Age limit of the student will also be fixed for Jharkhand Student Credit Card Scheme.
  • The student will have a tenure to repay the soft loan, which can possibly be 15 years.

Improved Version of West Bengal Student Card Scheme

In an improvement on the West Bengal Student Credit Card Scheme, the Jharkhand credit card scheme will also benefit students studying in various coaching institutes in the country to prepare for national-level competitive exams. It includes exams for civil services, engineering, medical and business management courses.

The student credit card scheme in Bengal, which was launched in June 2021, supports students financially by providing up to Rs 10 lakhs collateral-free loan at four per cent simple interest. One per cent interest concession will be provided to the borrower if the interest is fully serviced during the study period. The repayment period is 15 years for any loan availed under the Jharkhand student credit card scheme.

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Loans for tribal students

The sub-committee of the Tribal Advisory Council has decided to visit tribal-dominated states such as Chhattisgarh, Madhya Pradesh and Odisha to study how the tribal students are getting education loans. The sub-committee led by JMM senior leader and MLA Stephen Marandi has accepted that due to the prohibition on purchase and sale of tribal land owing to CNT and SPT Act, tribals face difficulty in taking education loan.

Source / Reference Link: https://www.telegraphindia.com/jharkhand/student-credit-card-scheme-for-higher-education-in-jharkhand/cid/1844691

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