In 10 days, student credit card scheme sees 26,000 applications

Kolkata: At least 26,000 students have so far applied for Student Credit Card that was launched by Chief Minister Mamata Banerjee to facilitate soft loans up to Rs 10 lakh for higher studies. The applications were made for a total loan amount of Rs 1,355 crore.

It needs a special mention that out of the 25,847 applicants, there are almost 5,899 students who are currently pursuing higher studies outside the state.

Out of the total applicants, around 16,384 males have applied for the Student Credit Card while the remaining 9,461 are women.

Though a large number of students from the state itself has applied for the loan, there are also a good number of them who are now studying outside Bengal. There are around 19,948 students who are now staying and studying both in the state while 5,899 students are from Bengal itself but studying outside the state.

The scheme has a provision facilitating students to apply for loans even in the middle of a course. The Chief Minister had launched the scheme on June 30 fulfilling one of her poll promises.

The scheme has been launched making the scope wider for students to undertake secondary, higher secondary, Under-Graduate and Post-Graduate level studies, including professional degree, diploma courses and research at doctoral or postdoctoral level or other similar courses in any school, madrasah, college, university, IITs, IIMs, IIESTs, ISIs, NLUs, AIIMSs, NITs, XLRI, BITS, SPA, NID, IISc, IIFTs and ICFAI Business School and other affiliated institutes within and outside the country.

With Banerjee always encouraging more IAS and IPS from the state, students studying in various coaching institutions to appear in different competitive examinations like engineering, medical, law, IAS, IPS, WBCS, UPSC, PSC, SSC etc can also avail the facility to opt for a soft loan at only 4 percent per annum simple interest from the state cooperative bank and its affiliated central cooperative banks along with district central cooperative banks and public or private sector banks. Even one percent interest concession will be provided if the interest is fully serviced during the study period.