The Jharkhand Guruji Student Credit Card Scheme (GSCC) is a flagship higher education financing initiative launched by the Government of Jharkhand to ensure that financial limitations do not prevent students from pursuing quality education in top institutions across India.
Designed to remove economic barriers, the scheme provides a collateral-free, government-guaranteed education loan up to ₹15,00,000. It enables students to pursue diploma, undergraduate, professional, and higher education programs without financial stress.
By offering subsidized interest rates and structured financial support, the scheme empowers Jharkhand’s youth to pursue academic excellence, develop professional skills, and contribute to the state’s economic growth.
The Guruji Student Credit Card Scheme (GSCC) is a government-backed education loan program introduced by the Department of Higher & Technical Education, Jharkhand. The scheme aims to ensure that no deserving student is denied higher education due to financial constraints.
The state government provides financial assistance with bank guarantees and subsidized interest support, making higher education accessible to students from economically weaker and middle-income families.
| Feature | Details |
|---|---|
| Maximum Loan Amount | Up to ₹15 lakh |
| Interest Rate | Subsidized (~4% simple interest) |
| Collateral Requirement | Not required |
| Eligible Students | Jharkhand residents |
| Courses Covered | Diploma, UG, Professional & Higher Education |
| Study Location | Approved institutions across India |
| Repayment Tenure | Up to 15 years (including moratorium) |
| Banks Empanelled | 9 member lending institutions |
| Institutions Covered | 2300+ approved institutions |
Under GSCC, students receive comprehensive financial assistance covering the full cost of higher education, allowing them to focus on learning rather than financial challenges.
The scheme supports students at multiple academic stages:
The scheme is designed for:
1. What is the maximum financial assistance provided under the GSCC scheme?
Students can receive an education loan of up to ₹15 lakh under the Guruji Student Credit Card Scheme. The exact amount depends on the course fee structure and approved academic expenses. The loan covers tuition fees, accommodation, study materials, and essential educational costs. This comprehensive financial support ensures students can pursue higher education without financial barriers.
2. What is the interest rate on the GSCC education loan?
The GSCC scheme offers a subsidized interest rate of approximately 4% simple interest per year. This reduced rate is supported by the Government of Jharkhand to make education financing affordable. Compared to traditional education loans, it significantly lowers repayment burden. This support helps students manage repayment comfortably after completing their studies.
3. When do students need to start repaying the GSCC loan?
Repayment begins after the moratorium period, which includes the course duration plus a grace period after completion. This allows students sufficient time to secure employment or establish financial stability. The extended repayment tenure further reduces monthly repayment pressure. This structure ensures repayment is manageable for graduates.
4. How is the GSCC loan amount disbursed?
The sanctioned loan amount is transferred directly to the educational institution according to the approved fee structure. Additional academic expenses may be released in installments as required. This ensures that funds are used strictly for educational purposes. The structured disbursement process maintains transparency and proper utilization.
5. Is collateral required to avail the GSCC education loan?
No collateral or property security is required under the GSCC scheme. The loan is backed by a government guarantee, making it accessible to students from economically weaker backgrounds. A parent or guardian may act as co-applicant for documentation purposes. This removes financial barriers and improves access to higher education.