Patna: As part of its Student Credit Card Scheme for the academic session 2025–26, the Bihar government has set a target of providing education loans to 95,220 students across the state. Patna will receive the highest share, with 7,840 students targeted, while the lowest allocation – just 415 students – has been set for Shivhar district.
The target distribution is based on the number of students passing Class 12 in each district. This year, over 1.1 million students passed their intermediate exams in Bihar. In districts where this number is higher, the loan target has also been proportionally increased.
Last year, while 85,000 students were targeted, only around 75,000 received the loans despite over 90,000 applications. The Student Credit Card Scheme offers loans of up to ₹4 lakh for higher education, covering college fees, laptops, and hostel expenses. Students enrolled in recognised public or private institutions are eligible.
The state government offers education loans for undergraduate, postgraduate, engineering, and job-oriented courses at an interest rate of 4%, with a concessional rate of 1% for female, transgender, and disabled students.
Since its launch in 2016, the scheme has evolved from a bank-based model to being administered directly through the Bihar State Education Finance Corporation (BSEFC), following difficulties students faced in accessing loans from banks. Since May 13, 2025, all new disbursements are being handled by BSEFC.
To date, over 4.43 lakh students have applied through BSEFC. Of these, loans worth Rs 11,144 crore have been sanctioned to 3.73 lakh students, with Rs 7,129 crore disbursed to 3.54 lakh students.
