Govt. launches new education loan program; Students get ‘unsecured loan’ at low interest rates

Students will be able to obtain study loans for higher education at a low interest rate under the proposed program.

Students will now get student loans at low interest rates

The Jharkhand government on Thursday introduced in its budget the “Guruji Credit Card” scheme, among a series of programs aimed at benefiting the poor. The JMM-led government of Jharkhand has unveiled a budget of Rs 1.01 lakh-crore for the financial year 2022-23, which includes increased spending on health and infrastructure.

What is the “Guruji credit card” system?

Ajoy Kumar Singh, principal secretary of the finance department, said in a post-budget briefing, “Banks require collateral for student loans. However, disadvantaged students are often unable to afford it.”

“Under such circumstances, they lose the opportunity to continue their education. The state government would be the guarantee for these loans under the Guruji credit card,” he said.

What are the other devices for Students?

The Mukhyamantri Sarathi curriculum was also discussed to help degree-holding students prepare for competitive examinations.

Also, according to the budget, the Marang Gomke Jaipal Singh Munda Transnational Scholarship Scheme would be extended to students from caste, backward and minority communities.

According to the government and authorities, children in Anganwadi centers will soon receive woolen clothes.

The program would help about 15 lakh children, according to the finance minister of Jharkhand.

Acknowledging that funds are insufficient to enable entire families to live in small houses built under Pradhan Mantri Awas Yojna (rural), Finance Minister Rameshwar Oraon said the state government intends to contribute 50 000 rupees per house from the state budget for the construction of an additional room. .

Under the Pradhan Mantri Awas Yojana (rural), 10.44 lakh houses have been constructed so far, with the remaining 5.22 lakh to be completed in the next fiscal year, he added.

The government has also provided 100 units of free electricity to the poor and destitute farmers to reduce the burden on their electricity bill. Also, to encourage start-ups in the state, the Minister of Finance has proposed a start-up venture capital fund in the state.

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