Launched in October 2016 under the “Saat Nischay Yojana,” the Bihar Student Credit Card Scheme has been helping students who pass Class 12 to pursue higher education with financial support.
Ahead of the upcoming Bihar Assembly elections, Chief Minister Nitish Kumar has announced a big relief for students who want to pursue higher education. From now on, loans under the Bihar Student Credit Card Scheme (BSCCS) will be completely interest-free for everyone. Under this scheme, students can take an education loan of up to Rs. 4 lakh.
Earlier, general applicants had to pay 4 per cent interest, while women, differently-abled, and transgender students paid 1 per cent. Now, the interest rate has been reduced to zero for all categories.
The government has also made repayment easier. For loans up to Rs. 2 lakh, the repayment time has been extended from 5 years (60 EMIs) to 7 years (84 EMIs). For loans above Rs. 2 lakh, students will now get 10 years (120 EMIs) to repay, instead of 7 years earlier.
Sharing the update on social media, Nitish Kumar said that the step will ensure no student in Bihar misses out on higher education due to financial problems. He added that the move will boost students’ confidence and help them pursue studies with greater dedication.
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 was first launched on 2 October 2016 under Nitish Kumar’s Saat Nishchay Yojana to support students from economically weaker families. “These facilities provided in the education loan for higher education will boost the morale of students, enabling them to pursue higher education with greater enthusiasm and dedication, thereby shaping not only their own future but also the future of the state and the country,” the Bihar CM said.
With this latest reform, the government aims to increase the number of students going to college and universities, and also empower Bihar’s youth to contribute to the state and the country’s progress.
