West Bengal approves Student Credit Card scheme

• A student can get a soft loan of up to ?10 lakh to pursue higher studies with the help of the credit card. The West Bengal cabinet on Tuesday approved the Student Credit Card scheme, which the Trinamool Congress had promised in its election manifesto. "The Cabinet gave its nod to the Student Credit Card scheme. Anyone who has spent 10 years in West Bengal can avail the benefits of it. Loan will be available for undergraduate, postgraduate, doctoral and post-doctoral study in India or abroad," chief minister Mamata Banerjee told reporters at a press briefing, according to news agency PTI.

"Fifteen years will be given to a student to repay the loan after getting a job," she added.

Here are all the details about student credit card scheme:

1. A student can get a soft loan of up to ?10 lakh to pursue higher studies with the help of the credit card.
2. One person is eligible for the scheme till 40 years of age.
3. 15 years will be given to a student to repay the loan after getting a job.
4. The educational loan shall also be extended to students studying in various coaching institutes, preparing to appear in national-level competitive exams, including IITs, IIMs, NLUs, IAS, IPS, WBPS among others.

5.The scheme will cover various institutional or non-institutional expenses to ensure no student from West Bengal is deprived of education due to lack of monetary support.