Ranchi: Students in Jharkhand can now get bigger loans for their higher education. The state government has increased the amount of money available under the Guruji Student Credit Card scheme to ₹15 lakh. This is a big step to help students pay for college and professional courses.
Earlier, students could borrow a certain amount, but now this limit has been raised. This change will specially help those students who want to study expensive courses like engineering, medicine, or other technical programs. These courses often have high fees. The higher loan amount means that more students will be able to join and complete their studies without worrying too much about money. It also aims to stop students from dropping out of college because they cannot afford the fees.
What is the Guruji Student Credit Card Scheme?
The Guruji Student Credit Card scheme is a special loan program started by the Jharkhand government. It helps students get money for their studies without needing to pledge any property or valuable items as security. This is called 'collateral-free' loan. Banks give out these loans, and the Jharkhand government helps pay a part of the interest, making the loan cheaper for students.
Key Features of the Loan
With the new changes, here are the main things to know about the loan:
| Maximum Loan Amount | ₹15 lakh |
| Interest Rate | 4% (subsidised by government) |
| Repayment Period | Up to 15 years |
| Repayment Starts | 1 year after completing the course OR when the student starts earning, whichever is earlier. |
| What the Loan Covers | Tuition fees, hostel charges, books, study materials, and equipment. |
The loan money can be used for many education-related costs. This includes the fees you pay to your college or university. It also covers the cost of staying in a hostel, buying your textbooks, and any other equipment you might need for your course, as per bank rules.
Who Can Apply? (Eligibility)
To get a loan under the Guruji Student Credit Card scheme, students must meet certain conditions. These rules ensure that the help reaches the right people from Jharkhand. Here are the main requirements:
- You must be a permanent resident of Jharkhand. This means you should have a valid 'domicile certificate' showing you belong to Jharkhand.
- You must have passed Class 10 or Class 12 from a recognised board.
- You need to have a confirmed admission offer letter from a recognised college, university, or institution. This means you must already have secured a seat in a course.
When you apply, banks will also ask for some common documents. These usually include your Aadhaar card, a certificate of your family's income, and your academic mark sheets or other school records. While the main rules are the same for everyone, the actual loan process can be slightly different depending on the bank.
How to Apply for the Loan
Applying for the Guruji Student Credit Card scheme is a straightforward process. Students need to visit the bank branches that offer this scheme. Here are the general steps:
- Step 1: Gather Documents: Collect all necessary documents. This includes your admission offer letter, Jharkhand domicile certificate, Class 10 and 12 mark sheets, Aadhaar card, and income certificate.
- Step 2: Visit a Bank: Go to a branch of any bank that is part of the Guruji Student Credit Card scheme. You can ask your school or local government offices for a list of these banks.
- Step 3: Fill Application Form: The bank will give you an application form for the education loan. Fill it carefully with all the correct information.
- Step 4: Submit Documents: Submit your filled application form along with all the required documents to the bank staff.
- Step 5: Bank Processing: The bank will check your application and documents. They will then process your loan request.
This scheme by the Jharkhand government aims to support students in achieving their higher education goals. It makes sure that money problems do not stop deserving students from getting a good education and building a strong future.
