Bihar Student Credit Card: The Bihar government has clarified that reports suggesting a reduction in the education loan amount under the Bihar Student Credit Card scheme are incorrect. The state government stated that the financial assistance available to students for higher education has actually been increased, providing them with more funding options than before.
According to an official press release, students can still avail financial assistance of up to ₹4 lakh. To facilitate education loans for a larger number of students, the government has integrated this scheme with banks and central government initiatives.
The Higher Education Department has introduced a new system for disbursing financial assistance under the Bihar Student Credit Card scheme. Students can now obtain education loans of up to ₹2 lakh through the Bihar State Education Finance Corporation.
Bihar Student Credit Card Loans Ranging from ₹2 lakh to ₹4 lakh
For Bihar Student Credit Card loans ranging from ₹2 lakh to ₹4 lakh, students can approach scheduled commercial banks. Previously, the entire education loan amount of up to ₹4 lakh was disbursed solely through the Bihar State Education Finance Corporation.
The government clarified that this change does not imply a reduction in the maximum loan limit; rather, the scope of the process has been expanded by involving banks to extend financial assistance to more students.
The Bihar government has linked the Bihar Student Credit Card scheme with the Pradhan Mantri Uchchatar Shiksha Protsahan Yojana, the PM VidyaLakshmi portal, and scheduled commercial banks.
According to the government, the objective is to provide institutional financial assistance for higher education to the maximum number of eligible students. Students can also explore education loan options of up to ₹10 lakh through the PM VidyaLakshmi scheme. This offers students additional avenues to arrange funds for higher education and continue their studies without financial hardship.
The Bihar government has also increased the approved expenditure for this scheme. An expenditure of ₹886 crore was approved for the 2025-26 financial year, while ₹950 crore has been sanctioned for 2026-27. This represents an increase of ₹64 crore compared to the previous financial year. The state government stated that the figures clearly show that financial assistance under the scheme has increased rather than decreased. The objective is to make higher education more accessible and ensure that the maximum number of students can avail themselves of institutional financial aid.
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