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Bihar Chief Minister Samrat Choudhary on Monday reiterated that the Student Credit Card Scheme upto Rs 4 Lakh will remain available for higher education, reassuring students and parents across the state.
This comes after the Bihar government said that reports claiming a reduction in education loans available to students under the Bihar Student Credit Card Scheme are incorrect. In an X post, CM Choudhary reaffirmed the state government's committment to ensuring better education for the youth. "There should be no doubt whatsoever in the minds of students and parents regarding the Student Credit Card Scheme. A Student Credit Card of up to 4 lakh is available for higher education, and this facility will continue to remain in place as before. The Bihar Government is fully committed to the education of youth and their bright future. Financial resources will never be allowed to become an obstacle in the path of education." The State government has further expanded the scope of financial assistance for students pursuing higher education, a release said. According to the Secretary of the Higher Education Department, an education loan of up to Rs 2 lakh will now be provided through the Bihar State Education Finance Corporation. Meanwhile, financial assistance ranging from Rs 2 lakh to Rs 4 lakh will be made available through scheduled commercial banks. Previously, the entire amount of up to Rs 4 lakh was provided solely through the Bihar State Education Finance Corporation. The objective of integrating the Bihar Student Credit Card Scheme with the Pradhan Mantri Uchchatar Shiksha Protsahan Yojana, the PM VidyaLakshmi Portal, and banks, according to the press release "is to provide institutional financial assistance for higher education to the maximum number of students." Additionally, students will be able to access education loans of up to Rs 10 lakh through the PM VidyaLakshmi Yojana. Thus, students now have more options for financial assistance for higher education compared to the past. An expenditure of Rs 886 crore was approved for the Bihar Student Credit Card Scheme in the 2025-26 financial year. For the current financial year (2026-27), an expenditure of Rs 950 crore has been approved. Consequently, the approved expenditure for the scheme in the current financial year is Rs 64 crore higher than in the previous financial year. (ANI)
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