Bihar Chief Minister Nitish Kumar has announced a major initiative aimed at improving access to higher education across the state. Under the Student Credit Card Scheme, all students who have completed Class 12 will now be eligible for interest-free education loans. The move is intended to ease financial barriers for young people pursuing further studies and comes with extended repayment timelines to reduce the burden on families.

Interest-Free Loans for Class 12 Graduates

The announcement ensures that students completing their higher secondary education can apply for loans without worrying about accumulating interest. By removing this financial hurdle, the government seeks to encourage more students to continue their academic journey, whether in professional courses, technical training, or higher university studies.

Extended Repayment Periods Announced

Alongside the waiver of interest, the repayment schedule has also been revised. Borrowers who take loans up to Rs 2 lakh will now have seven years to repay the amount, while those opting for larger sums will be given up to ten years. This extension is designed to provide graduates with sufficient time to establish themselves professionally before beginning repayment in earnest.

Boosting Higher Education Accessibility

The Student Credit Card Scheme has been a cornerstone policy aimed at bridging educational gaps in Bihar. By offering financial support through easy credit access, it enables students from diverse backgrounds to pursue courses that may otherwise have been out of reach due to cost constraints. The latest announcement strengthens this scheme further by eliminating interest charges altogether.

Reducing Financial Pressure on Families

For many households, financing higher education can be a significant challenge. The combination of interest-free borrowing and longer repayment windows is expected to ease this pressure considerably. Families will no longer face immediate repayment obligations that could deter them from supporting their children’s academic aspirations. Instead, they will have greater flexibility and assurance that repayments can be managed over time without additional financial strain.

A Step Toward Educational Empowerment

Education has long been recognized as a key driver of social and economic progress. By making higher learning more accessible through supportive loan policies, Bihar is positioning itself to empower its youth with better opportunities for skill development and career advancement. This initiative reflects an effort to align educational goals with long-term growth and development priorities within the state. The announcement by Nitish Kumar marks a significant policy shift in favor of students and their families. Interest-free loans combined with extended repayment options are expected to encourage more young people to pursue higher studies without fear of debt becoming an obstacle. As implementation unfolds, the scheme could play a pivotal role in shaping Bihar’s educational landscape and fostering greater participation in advanced learning across communities.