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West Bengal Government Receives Over 26,000 Applications For Student Credit Card

A student can apply for the education loan for a course for which he/she will be applying but not for one for which he/she has already paid to an institution

West Bengal Government Receives Over 26,000 Applications For Student Credit Card
Mamata Banerjee's announcement of the student credit card scheme has led to submission of over 26,000 applications in West Bengal | PTI
West Bengal Government Receives Over 26,000 Applications For Student Credit Card
outlookindia.com
2021-07-13T16:06:46+05:30

Since West Bengal Chief Minister Mamata Banerjee's last month announcement of the student credit card scheme, the West Bengal Government so far has received over 26,000 applications for the scheme, said the officials.

The scheme is primarily designed to disburse loans of up to Rs 10 lakh  for higher studies, a senior official said on Tuesday. Aiding the underprivileged students in achieving higher feats in academics is the fundamental  objective of  adopting the scheme. 

Of the over 26,000 applications received till last week, nearly 6,059 are from students who hail from West Bengal but are studying outside the state, he said, adding around 16,800 applicants are males and 9,700 are females.

"It seems that the scheme has become quite a hit among students. We hope to receive more applications in the coming days," the official said.

A student can apply for the education loan for a course for which he/she will be applying but not for one for which he/she has already paid to an institution, he said.

Banerjee had on June 30 launched the scheme under which pupils from class 10 onwards can apply for loans up to Rs 10 lakh as per their requirement.

Students can apply for the loan even while pursuing professional courses like MBBS, BTech, or diploma courses to enhance their skills.

They will not be required to provide any surety for the loan as the state government will be the surety.

The interest rate will be 4 per cent and it may be reduced further if repayment is done within the study period.

Besides pursuing higher studies, students can apply for the loan even to purchase laptops, books or to pay tuition fees and boarding charges. 

(With PTI Inputs)

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