PRINCE KUMAR
Ranchi, Dec 25: The Jharkhand government is all set to launch a student credit card scheme to help the tribal students who face problems in getting educational loans during a function to mark two years of the JMM-led UPA government on December 29.
Under the scheme, the government will help tribal students to get a soft loan of up to Rs 10 lakh for higher studies with the help of a credit card.
At present, the students face difficulty in getting loans for their higher studies as the bank demands collateral for loans above Rs 7.5 lakhs. Also, the students have to go through several processes which harass them.
A student pursuing MBA from Lovely Professional University said that he had to face a lot of issues while getting the loan for his higher studies.
“I went to the bank on a daily basis so that my admission fees get submitted on time but the bank officials were denying me the loan as my father didn’t have a stable income,” he said.
“Finally, after several days of hard work, the loan was sanctioned and I secured my admission in the college,” he added.
According to an official, the scheme would be tabled during the budget session of the Jharkhand assembly for a formal nod in February-March, 2022.
The student credit card scheme in Bengal, which was launched in June this year, supports students financially by providing up to Rs 10 lakhs collateral-free loan at four per cent simple interest. One percent interest concession will be provided to the borrower if the interest is fully serviced during the study period. The repayment period is 15 years for any loan availed under the scheme.
The sub-committee of the Tribal Advisory Council has decided to visit tribal-dominated states such as Chhattisgarh, Madhya Pradesh and Odisha to study how the tribal students are getting education loans. The sub-committee led by JMM senior leader and MLA Stephen Marandi has accepted that due to the prohibition on purchase and sale of tribal land owing to the CNT and SPT Acts, tribals face difficulty in taking education loans.
