Bihar CM confirms Student Credit Card Scheme up to Rs 4 lakh will continue

Bihar Chief Minister Samrat Choudhary has dismissed reports suggesting a reduction in the state's Student Credit Card Scheme, confirming that education loans of up to Rs 4 lakh will continue to be provided for higher education.

The government has adjusted the disbursement structure to broaden financial assistance. Loans of up to Rs 2 lakh will now be managed through the Bihar State Education Finance Corporation, while the portion between Rs 2 lakh and Rs 4 lakh will be routed through scheduled commercial banks. Previously, the corporation handled the full amount.

Additionally, the scheme has been integrated with the Pradhan Mantri Uchchatar Shiksha Protsahan Yojana and the PM Vidyalaxmi portal. This integration allows students to potentially access further funding avenues of up to Rs 10 lakh through these national programs.