New Delhi, April 4: Good news for students in Bihar as they can now get education loan at one per cent interest under Students Credit Card (SSC) scheme after Chief minister Nitish Kumar on Wednesday inaugurated the State Education Finance Corporation (BSEFC).

This scheme includes transgender, girls and differently-abled. Students can avail loan upto Rs 4 lakh. The government move aims to strengthen education sector in state and also to encourage students who leave their studies in between because of financial problem.

The Bihar State Education Finance Corporation, is set up with a view to provide a boost to the state’s ambitious “students credit card” scheme. Inaugurating the scheme, Nitish Kumar said this is an alternative to commercial banks in order to speed up distribution of education loan among 12th pass students under the SCC scheme. In this students will be given loan for any education stream.

The chief minister said that the students credit card scheme aims at raising the state’s gross enrolment ratio for higher studies, which is currently 14.3 per cent as against the national average of 24 per cent. We intend to raise it to at least 30 per cent.

Despite promising a 160 per cent guarantee, banks did not respond very favourably to the state government. So we decided to set up our own State Education Finance Corporation which will provide the funds required for implementing the scheme”, the Chief Minister said.

Now, aspirants can approach the District Registration and Counselling Centres (DRCC) with their applications without any fear and they would be provided with the help they need, Kumar added. BSEFC scheme was launched by the government on October 2, 2016.

(With agency inputs)