KOLKATA: WB CM Mamata Banerjee on Wednesday initiated ‘Student Credit Card’ – an exclusive initiative that provides soft loans of up to Rs 10 lakh to students for educational purposes.
Through this credit card drive, students will be able to take a loan up to a maximum of Rs 10 lakh at a simple annual interest rate.
“I am overjoyed to declare that GoWB has initiated the Student Credit Card today. To make the youth of Bengal self-dependent, the Scheme shall furnish a loan of up to Rs 10 Lakh with an annual simple interest,” the Chief Minister said during the launch.
She further added that the Stratagem will benefit all students staying in West Bengal who are enrolled in Higher Educational Institutions and Competitive Examinations Coaching Centres. ”The Bengal govt is working persistently to procure all the promises of my 10 Ongikars,” CM Mamata said during the launch.
The policy ensures education from Madhyamik level to professional courses including doctorate/postdoctoral research work in any established educational institute within or outside the country,” the official said.
This will not only be expanded to students who made it to premiere institutes but the loan will be handy to furnish support to the students who want to prepare themselves for top central and state government jobs like UPSC and PSC.
“The education loan shall also be stretched for the students studying in various competitive coaching institutes to approach in IITS/IMs/NLUS/IAS/IPS/WBCS or other competitive examinations. It will include various institutional/non-institutional expenses to confirm no student from the state of West Bengal is neglected for education due to lack of fund support,” he added.
Student Credit Card: All you need to know
-This motion will endorse the ambitious students to take a soft loan of up to Rs 10 lakh for educational purposes.
-They will have a period of 15 years to recoup the loan after getting a job.
-It will be a collateral security-free loan at a very nominal annual simple interest rate.
-A person will be entitled to the scheme till attaining 40 years of age.
-Students who desire to get admission in various coaching institutes for studying for national-level competitive exams like -JEE, NEET, CLAT, UPSC, etc will also get the benefits of education loans through this policy.
-The Student Credit Card plan will include various institutional or non-institutional expenses to confirm no student from West Bengal is neglected of education due to a lack of financial support.
-The plan ensures education from Madhyamik level to professional courses including doctorate and post-doctoral research work in any established educational institute within or outside India.
-Students can also take admission in foreign universities using the WB student credit card and retain the courses of their choice up to Ph.D. or post-doctoral level.
The government of West Bengal has taken several drives like free distribution of school bags, shoes, uniform, books, cycles, scholarships like Swami Vivekananda merit-cum-means, Kanyashree, increase in plan expenditure by 9 times during the last 10 years, to confirm re diversified growth of the education sector in the State.