Jharkhand Raises Guruji Student Credit Card Loan Limit to ₹15 Lakh

Applicants are required to be Jharkhand domiciled and must have passed Class 10 or Class 12. A confirmed admission offer from a recognised institution is mandatory.

Students in Jharkhand looking to finance higher education will now be able to borrow more under state government’s Guruji Student Credit Card scheme, as loan limit has been raised to ₹15 lakh.

This revision is likely to help students enrolling in professional and technical courses, where fees have increased over past few years. This will reduce financial pressure on families and preventing students from dropping out midway due to lack of funds.

What is Guruji Student Credit Card Scheme

Guruji Student Credit Card is a state-backed education loan facility that allows students to access funding without pledging any collateral. Banks extend loans under it with Jharkhand government providing interest support.

With latest enhancement, students can now avail loans of up to ₹15 lakh at a subsidised interest rate of 4 per cent. Repayment can be spread over a period of up to 15 years, beginning a year after completion of course or once student starts earning.

Loan amount can be used for tuition fees as well as other academic expenses, including hostel charges, books and equipment subject to bank norms.

Who Is Eligible

Applicants are required to be domiciled in Jharkhand and must have passed Class 10 or Class 12. A confirmed admission offer from a recognised institution is mandatory. Banks also seek standard documents such as Aadhaar, income certificate and academic records before processing applications.

While scheme guidelines are common, actual disbursement depends on bank handling the application.

How to Apply

Students can approach participating bank branches with their admission documents to apply under the Guruji Student Credit Card scheme.