Patna: The Bihar govt has restored the earlier arrangement under the Bihar Student Credit Card Scheme, allowing students to continue availing education loans of up to Rs4 lakh through the Bihar State Education Finance Corporation (BSEFC).The higher education department on Saturday issued a notification cancelling its Aug 19 order, which had proposed splitting the Rs4 lakh loan between the BSEFC and notified banks. Under the cancelled arrangement, students were to receive Rs2 lakh from the BSEFC and the remaining Rs2 lakh from notified banks.The latest notification, issued by the department secretary Rajiv Raushan, said that chief minister Samrat Choudhary had reviewed the facilities being provided to students under the scheme and, after due consideration, decided to withdraw the earlier order.Accordingly, resolution no. 1202 dated Aug 19, along with the process prescribed for its implementation, has been cancelled.The department clarified that the existing process of providing education loans of up to Rs4 lakh through the BSEFC will continue.According to the communique, the decision is likely to provide relief to students pursuing higher education, who can now avail the loan under the earlier arrangement without having to approach separate banks for the remaining amount.The Bihar Student Credit Card Scheme provides financial assistance to students pursuing higher education through education loans.
