The Bihar government has clarified that reports claiming a reduction in the education loan amount under the Bihar Student Credit Card Scheme are factually incorrect. This gives them access to more funding options than before. The government has also linked the scheme with banks and central government initiatives to help more students access education loans.
Students can still avail themselves of financial assistance of up to Rs 4 lakh, according to an official press release.
The state government said that the financial assistance available to students for higher education has been expanded.
The Higher Education Department has introduced a new arrangement for providing financial assistance under the Bihar Student Credit Card Scheme. The Bihar government has integrated the Bihar Student Credit Card Scheme with the Pradhan Mantri Uchchatar Shiksha Protsahan Yojana, the PM VidyaLakshmi Portal and scheduled commercial banks. The Bihar government has also increased the approved expenditure for the scheme.
Students can now receive an education loan of up to Rs 2 lakh through the Bihar State Education Finance Corporation. An expenditure of Rs 886 crore was approved for the 2025-26 financial year, while Rs 950 crore has been approved for 2026-27. This marks an increase of Rs 64 crore compared with the previous financial year.
