Key benefits and loan coverage
- Loan coverage: Covers institutional tuition fees, hostel expenses, textbooks, examination fees, and laptops.
- Collateral-free credit: State governments act as institutional sponsors, eliminating the need for third-party collateral or sureties.
- Concessional interest: Subsidized interest rates, with special interest concessions for female students and differently-abled learners.
- Repayment moratorium: Repayment begins after completion of the academic course plus an additional moratorium grace period.
Eligibility criteria
Applicants must be permanent residents of the sponsoring state, have completed Class 12 or equivalent qualifications from a recognized board, and have secured admission into an approved college, polytechnic, or university recognized by statutory bodies like UGC, AICTE, or the state higher education council.
Application and disbursement workflow
Students apply online through their dedicated state portal (such as the MNSSBY portal in Bihar or WBSCC portal in West Bengal). After electronic verification by district education authorities, the sanctioned credit is disbursed directly to educational institutions.
Official source
Check the latest rules, benefits and forms here. KisanPe is an independent platform and is not a government website.
MNSSBY Portal, Government of Bihar ↗Related on KisanPe
Common questions
What expenses are covered under student credit card schemes?
The card covers college tuition fees, hostel accommodation charges, books, laboratory fees, and laptops.
Is collateral or property mortgage required?
No, education loans sanctioned under state student credit card schemes are collateral-free, with the state government acting as guarantor.
When does loan repayment start?
Repayment commences only after course completion, typically following a one-year job-search moratorium period.
General guidance, not personal advice. For your farm, ask your local Krishi Vigyan Kendra or agriculture officer.
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