In a landmark decision announced on Tuesday, September 16, 2025, the Bihar government confirmed that students who successfully clear their Class 12 board examinations will now be eligible for interest-free education loans under the revamped Student Credit Card Scheme. This initiative is designed to ensure that no deserving student is held back from pursuing higher education due due to financial constraints.
Previously, the scheme offered education loans of up to ₹4 lakh, but with varying interest rates: a 4% interest for general male applicants, and a concessional 1% for female, differently-abled, and transgender applicants. Chief Minister Nitish Kumar personally announced on social media platform X, stating, “Now, the loan will be interest-free for all applicants.”
The Bihar Student Credit Card Scheme, initially launched on October 2, 2016, has been instrumental in supporting countless students. With this latest update, the government is further easing the burden on young scholars and their families.
Furthermore, the Chief Minister detailed extended repayment terms. For loans up to ₹2 lakh, the repayment period has been stretched from 60 monthly installments to a more generous maximum of 84 monthly installments. For larger loans exceeding ₹2 lakh, students will now have up to 120 monthly installments to repay, an increase from the previous 84-month limit.
Mr. Kumar emphasized that his government’s primary goal is to foster an environment where every student has the opportunity to pursue advanced education. He expressed confidence that these decisions will significantly uplift student morale, encouraging them to pursue their higher education goals with renewed vigor and dedication. This, he believes, will not only shape their individual futures but also contribute immensely to the progress and development of Bihar and the nation as a whole.