Launched by Jharkhand’s Department of Higher and Technical Education, Government of, the Guruji Student Credit Card (GSCC) Scheme 2025, The program seeks to give students free will to pursue higher education financial support free from constraints. Under this program, qualified students—with extra advantages for female students—can access education loans up to ₹15 lakhs at a subsidized 4% simple interest rate.
Benefits of the GSCC Scheme
- Education Loan of up to ₹15 lakh for higher studies.
- Subsidized interest rate of 4% per annum.
- Extended Repayment Tenure of up to 15 years.
- No Processing Fees for loan approval or disbursement.
Eligibility Criteria
To apply for the Guruji Student Credit Card Scheme, students must meet the following requirements:
- Must be a resident of Jharkhand.
- Must have completed Class 10 (for diploma courses) or Class 10 and 12 (for undergraduate and higher studies).
- Must have secured admission to an institution ranked:
- Up to 200 in the overall NIRF rankings.
- Up to 100 in their respective NIRF category rankings.
- Institutions accredited Grade ‘A’ or above by NAAC.
- Eligible institutions include IITs, IIMs, AIIMS, NITs, XLRI, IISc, BITS, SPA, NID, IIFT, ICFAI Business School, and others.
- Must be below 40 years of age at the time of application.
- Must not have previously benefited from this scheme.
- Must not have an existing education loan from a State Co-operative Bank, Central Co-operative Bank, or any Public/Private Bank for the same course.
Application Process
Step 1: Online Registration
- Visit the GSCC Official Website.
- Click on “Registration”.
- Enter Name, Email ID, Mobile Number, and Captcha.
- Verify the OTP received via SMS.
- Receive a Registration Number via SMS.
Step 2: Login & Application Form
- Enter User ID, Password, and Captcha.
- Click “Login”.
- Fill in personal details, address, and academic information.
- Upload profile photo and signature.
- Click “Submit” to receive your Application ID.
Step 3: Loan Process
- Select a Member Lending Institution (MLI) for loan processing.
- Loan Approval: The MLI reviews and approves/rejects the application.
- Loan Details Upload: The MLI enters loan details (amount, duration, repayment schedule) and issues a Sanction Letter.
- Interest Subvention Block: The Corpus Bank reserves the required subsidy.
- Fee Disbursement: The MLI transfers tuition fees directly to the institution.
- Interest Payment to MLI: The portal auto-pays the interest subsidy at agreed intervals.
- Repayment Schedule Upload: The MLI updates the repayment details.
- Loan Status Validation: The portal tracks repayment and interest payments.
Documents Required
Applicants must upload the following documents:
- Aadhaar Card
- Recent Passport-size Photograph
- Admission Letter from Institution
- Ration Card
- Resident Certificate
- Income Certificate
- Caste Certificate (if applicable)
- Bank Passbook Copy
- Birth Certificate
Frequently Asked Questions (FAQs)
- What is the Guruji Student Credit Card Scheme?
It is an education loan scheme that provides financial assistance to students pursuing higher studies. - Who is eligible for the GSCC scheme?
Students who are residents of Jharkhand, have completed Class 10 or 12, and have secured admission in an eligible institution. - Is there an age limit for applicants?
Yes, the applicant must be below 40 years at the time of application. - Which courses and institutions are covered?
Courses from institutions ranked within the top 200 overall or top 100 in specific categories in NIRF rankings, or NAAC ‘A’ accredited institutions. - What is the maximum loan amount?
The scheme provides loans up to ₹15 lakh at 4% interest. - How is the interest rate calculated?
A subsidized simple interest rate of 4% per annum is applied. - Is collateral or a guarantor required?
No, the scheme does not require collateral or a guarantor. - How do I apply for the GSCC scheme?
Apply online via the GSCC official portal. - Can I choose any bank for the loan?
No, the loan is processed through pre-approved lending institutions. - What expenses does the loan cover?
- Tuition Fees
- Books & Study Materials
- Hostel/Accommodation Fees
- Examination Fees
- Equipment and Lab Charges
- How much of the loan can be used for personal expenses?
A specific portion of the loan can be used for non-institutional expenses, such as accommodation and study materials. - What if I don’t use the non-institutional advance?
Unused funds must be returned or adjusted in future installments. - Is there a moratorium period for repayment?
Yes, repayment starts after course completion, with a grace period before EMI payments begin. - What happens if I cannot repay the loan on time?
Students may request a repayment extension or restructuring as per bank policies. - How is the loan disbursed to institutions?
The MLI directly transfers tuition fees to the institution’s account as per the student’s payment schedule. - Is there a processing fee for this loan?
No, the GSCC scheme has no processing fees. - What documents are required for application?
Applicants must provide identity proof, income certificate, admission letter, and bank details. - Is insurance required for this loan?
Insurance requirements depend on lender policies. - How can I track my loan status?
Loan status can be tracked through the GSCC portal using the Application ID. - Who can I contact for support?
For queries, visit the official GSCC website or contact the Department of Higher and Technical Education, Jharkhand.