Call it pro meritorious students scheme.In fact, what Chief Minister Champai Soren did was what his predecessor Hemant Soren had envisioned and planned earlier when Guruji Student Credit Card Yojana was conceptualised. 

Today,on behalf of the state government,CM Champai Soren launched Jharkhand Guruji Student Credit Card Yojana.In other words, it’s an educational loan scheme meant for the meritorious students who were poor.

As per the notified Yojna,educational loan amounts will be made available to “poor” students who have passed the 10th and 12th classes from a recognized institute located in Jharkhand state. *Key Points*  

1.The government will create a corpus fund of Rs 200 crore for the 'Guruji Student Credit Card Scheme'. 

2.The main objective of this scheme is to provide financial assistance to the students of Jharkhand state to study in higher educational institutions.And thereby enable them to go for higher education and fulfil their dream.

The Higher and Technical Education Department informed that loans will be arranged for students studying 10th and 12th class (10th class pass for diploma students) from recognized educational institutions in the state of Jharkhand or outside the state on merit.

Under the Guruji Student Credit Card Scheme, students will get a maximum loan of Rs 15 lakh. They will be provided loans through banks. 

A maximum of 30 per cent of this amount will be available for non-institutional work (including living and food expenses). Students will have to pay only 4 percent interest for this. Notably,students will have to pay a simple rate of interest of 4 percent. 

The rest of the interest will be paid by the state government in the form of interest subvention. That is, the state government will remain in the role of guarantor. Students will not need to give any kind of collateral security to take a loan. Students will be able to repay the loan amount in 15 years. 

The interest on the loan that the children will take will be calculated at the rate of simple interest. It will remain fixed for the entire tenure of the loan. Students will not have to pay any processing fee to the bank to take a loan for higher education. 

The Jharkhand government will select the best student from educational institutions in the state or  located in other states, which figure within the overall 200 rank in the previous NIRF list or in the respective category of the institution,who figured in the top 100 in the LIST of NIRF or have 'A' category or above.  

The entire scheme was planned and named by ex CM Hemant Soren before he was hooked up by the Enforcement Directorate in the alleged money laundering connected with a land scam. 

“Guruji” is popular name of his father Shibu Soren. Now, when Hemant was in jail, his successor Champai launched this Jharkhand Guruji Student Credit Card Yojana on March 11,2023.


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