The Jharkhand Guruji Student Credit Card (GSCC) Scheme offers affordable education loans to help students pursue higher education without financial worries. The scheme provides comprehensive financial coverage, easy repayment options, and a low-interest rate structure, ensuring access to quality education for every eligible student in Jharkhand.
Under the GSCC Scheme, students can avail of education loans up to ₹15 lakh for pursuing recognized courses in India or abroad. The financial support covers not only tuition fees but also all necessary academic and living expenses associated with the student’s course of study.
The scheme is designed to reduce financial stress on families and enable students from economically weaker backgrounds to continue their education seamlessly.
The GSCC Scheme provides funding for almost all major educational expenses. Below is a detailed breakdown of what the loan covers:
Expense Category | Details Covered Under GSCC Scheme |
| Tuition and Admission Fees | Full or partial coverage of university/institution tuition fees and one-time admission charges. |
| Examination Fees | Fees for semester, annual, and final examinations. |
| Library and Laboratory Fees | Includes expenses for library access, lab usage, and materials. |
| Books and Study Materials | Textbooks, reference books, journals, and other academic resources. |
| Equipment and Instruments | Computers, laptops, or scientific equipment required for coursework. |
| Hostel and Accommodation | Hostel charges or reasonable rent for off-campus housing (if applicable). |
| Travel and Project Work | Domestic or overseas travel expenses related to study requirements. |
| Miscellaneous | Uniforms, stationery, internet, and other academic essentials. |
Note: The amount sanctioned depends on the course, institution, and total estimated cost of education as verified by the nodal bank.
The GSCC Scheme offers one of the most student-friendly interest rates in India.
Category of Student | Annual Interest Rate |
| Male Students | 4% per annum |
| Female Students | 1% per annum |
| Differently-Abled Students | 1% per annum |
Key Features:
Example: A student availing ₹10 lakh for a 4-year engineering course will pay only 4% annual interest, starting repayment after the moratorium period.
The GSCC Scheme provides a generous moratorium (grace) period, allowing students to focus on their studies without worrying about repayment.
Repayment under the GSCC Scheme is designed to be flexible and manageable:
Parameter | Details |
| Repayment Start Date | 1 year after course completion or 6 months after employment (whichever is earlier) |
| Repayment Period | Up to 15 years |
| Mode of Repayment | Monthly EMIs or flexible installment plans through partner banks |
| Prepayment | Allowed anytime without penalty |
| Government Guarantee | Provided to reduce risk and ensure ease of approval |
The total repayment period (including the moratorium) can extend up to 15 years, ensuring minimal monthly installments even for large loan amounts.
This government-backed structure ensures quick approval and confidence for both banks and applicants.
The GSCC Scheme combines financial flexibility with educational empowerment, ensuring that financial constraints never stop Jharkhand’s youth from achieving their academic goals.
Q1. What is the maximum loan amount offered under the GSCC Scheme?
Students can avail up to ₹15 lakh for recognized higher education courses. The exact amount depends on course cost, duration, and the institution’s fee structure.
Q2. Is any security or collateral required to get a GSCC loan?
No, the GSCC Scheme does not require any collateral or third-party guarantor. The Government of Jharkhand acts as the guarantor for every sanctioned loan.
Q3. What is the interest rate for GSCC loans?
The interest rate is 4% per annum for male students and only 1% per annum for female and differently-abled students. This low rate makes higher education affordable and inclusive.
Q4. When does the repayment of the loan begin?
Students begin repayment one year after completing their course or six months after getting a job, whichever comes first. The repayment period can extend up to 15 years
Q5. What expenses are covered under the GSCC Scheme?
The loan covers all major educational costs such as tuition fees, hostel rent, books, laptops, exam fees, and travel or project expenses, ensuring complete financial support throughout the study period.