Guruji Student Credit Card (GSCC) Scheme is a supportive scheme by the government of Jharkhand to help students pursue higher education. It provides affordable education loans of up to ₹15,00,000 at a low interest rate of 4%, so money problems do not stop you from reaching your academic goals. Registration for the scheme is open through the official GSCC portal.
Guruji Student Credit Card (GSCC) Scheme is a financial support scheme by the government of Jharkhand made for students who want to study in top institutions. If you are an eligible student, you can get an education loan of up to ₹15,00,000 at a subsidized 4% simple interest rate. The higher and technical education department runs this scheme to make the path to higher studies easier for students across the state.
Guruji Student Credit Card Scheme - Introduction
The scheme works like a credit card for education. The state government makes sure every student gets a chance to study in good institutions of the country without worrying about collateral. You get a collateral free, fully guaranteed education loan of up to ₹15 lakh. This means you do not need to mortgage your property or give any security to the bank.
Students can use 30% of the loan amount for non-institutional expenses such as lodging, food, books, laptops and other study needs. The rest of the amount goes directly to the institution as fees. You get 15 years to repay the loan, and the EMI starts one year after you finish your course or get a job.
| Detail | Information |
|---|---|
| Scheme Name | Guruji Student Credit Card (GSCC) Scheme |
| Level | State |
| State | Jharkhand |
| Target Beneficiaries | Eligible students |
| Categories | Education and learning, Banking, financial services and insurance |
| Benefit Type | Cash |
| Nodal Department | Higher and technical education department |
| Maximum Loan | ₹15,00,000 |
| Interest Rate | 4% simple interest |
| Repayment Tenure | Up to 15 years |
| Official Website | gscc.jharkhand.gov.in |
Benefits
The scheme gives several benefits that make higher education affordable for students:
- Money help up to ₹15,00,000: you get an education loan of up to ₹15 lakh at a subsidized 4% interest rate, so you can cover the full cost of your course.
- Long repayment time: you get up to 15 years to repay the loan, which keeps the monthly EMI low and easy to manage.
- Zero processing fees: you do not pay any extra cost for loan processing, sanctioning or payment, which keeps the total cost low.
Eligibility
To qualify for support under this scheme, you should meet the following criteria:
- You should be a student and an Indian national.
- You should have finished class 10th for diploma courses, or class 10th and 12th for undergraduate or higher studies from a recognized school in Jharkhand.
- You should hold an admission letter from a reputed institution such as IITs, IIMs, NLUs, AIIMSs, NITs, or others ranked within 200 in the overall NIRF list, or hold an accreditation grade of A or above from NAAC.
- You should be 40 years old or younger when you apply.
- You should be applying for this financial support for the first time.
- You must not have taken an education loan for this specific course from any other state or public/private sector bank.
Application Process
Online registration
STEP 1 - Visit the official GSCC web portal to start your application. Click on the registration option and enter your details.
STEP 2 - Verify your identity using the OTP sent to your mobile number. After verification, you will receive a unique registration number through SMS.
How to login and apply
STEP 3 - Use your registered details to log in to the portal. Fill out the application form with your personal and address details.
STEP 4 - Upload a clear photograph and your signature, then click submit to receive your application ID.
Loan payment steps
STEP 5 - Once you are registered, select a member lending institution from the onboarded banks. The bank will review your application and approve it based on their timelines.
STEP 6 - The portal helps manage the interest subsidy, and the bank will pay your fees directly to your institution. You can track all interest payments and repayment schedules through your user dashboard.
Documents
Keep the following documents ready before you start your application:
- Aadhaar card
- Colour passport-size photograph
- Admission letter from your institute
- Ration card
- Resident certificate
- Income certificate
- Caste certificate
- Bank passbook
- Birth certificate
References
FAQ's
What is the Guruji Student Credit Card Scheme?
This scheme provides financial support for Jharkhand students to pursue higher education, offering loans up to ₹15,00,000 at a 4% interest rate.
Who is eligible for this scheme?
Students who completed their 10th and 12th grades in Jharkhand and secured admission to recognized institutions for higher courses are eligible.
Is there an age limit?
Yes, you should be 40 years or younger when you apply.
Which courses are covered?
Courses like engineering, medical, law, and research at top-tier institutions like IITs, IIMs, and AIIMS are covered.
What is the maximum loan amount?
You can get an education loan up to ₹15,00,000.
How is the interest rate calculated?
It follows a 4% simple interest rate. Female students receive an additional 0.5% interest reduction.
Is collateral required?
No, you do not need collateral, but you do need a co-obligation from your parents or guardians.
How do I apply?
Register on the GSCC portal, fill in the application, and upload your admission documents.
Can I pick any bank?
You should select a Member Lending Institution from the list of banks onboarded on the portal.
What expenses does the loan cover?
The loan covers institutional fees, hostel costs, and other essentials like books or rent.
How much can be used for non-institutional costs?
Up to 30% of the loan amount can be used for your non-institutional expenses.
Is there a moratorium period?
Yes, you receive a one-year repayment holiday after finishing your course or getting a job.
How do I track my status?
You can monitor your loan and payment status easily through your personal dashboard on the portal.