Bihar Free Education Loan: Before the Bihar assembly elections, all the political parties are making every effort. CM Nitish Kumar, who is working hard to come to power once again in the state, is also taking big decisions to woo the people. CM Nitish Kumar has made a big announcement, which is being discussed rapidly.
You must be wondering what announcement has been made. Actually, under the Bihar Student Credit Card Scheme, a big decision has been taken on the education loan given to the students. The government has made this loan interest-free. Meaning, the loan given to the student through the credit card scheme will not be charged any kind of interest.
How much loan is available
The Bihar government gives a loan of up to Rs 4 lakh to the student under the credit card scheme. The government gives loans to students who pass the 12th board examination for further studies. Now this amount has been made interest-free. This is considered to be a big, shocking decision of the Bihar government before the elections.
CM Nitish Kumar has given this information by posting on the social media platform X on Tuesday. The post said that now, the loan will be interest-free for all applicants. The Bihar Student Credit Card Scheme is effective from October 2, 2016.
Nitish Kumar further said that the provision of repaying the loan up to two lakh rupees in 60 monthly instalments has now been made to repay it in a maximum of 84 monthly instalments. He said that for loans above two lakh rupees, the repayment period has been increased from 84 monthly instalments to a maximum of 120 monthly installments.
When will the elections be held?
For information, let us tell you that assembly elections are to be held in Bihar few months. NDA and Mahagathbandhan are making vigorous preparations for the assembly elections. PM Narendra Modi and CM Nitish Kumar themselves are already trying hard to woo Bihar.