The Guruji Student Credit Card (GSCC) Scheme is a bold, student‑first initiative by the Jharkhand government that aims to remove financial barriers to higher education. Named in honor of JMM founder Shibu Soren—affectionately known as “Guruji”—this program offers collateral‑free education loans so that talented young people from underprivileged families can chase their academic dreams without worrying about money. Whether you’re planning to study anywhere in India or overseas, the GSCC makes
it easier to focus on your studies by taking care of tuition, living expenses, and essential supplies. Below, we’ll walk through its standout features, who can apply, how to get started, and why it could be a game‑changer for your educational journey.
What is the Guruji Student Credit Card Scheme?
Launched on March 3, 2024 by then‑Chief Minister Champai Soren, the GSCC scheme is all about giving Jharkhand students the freedom to learn—whether at a top Indian college or an overseas university—without the usual money worries. Here’s the deal: you can borrow up to ₹15 lakh at a super‑low 4% simple interest rate, and you don’t have to mortgage your family’s assets.
Imagine stepping onto campus without a single worry about how you’ll pay the fees—that’s the promise of the GSCC scheme, launched on March 3, 2024, by Champai Soren. Need up to ₹15 lakh for your degree at a top Indian university or even an overseas school? You’ll pay just 4% simple interest, and you don’t have to pledge your family’s assets. Jharkhand backs you with a ₹200 crore fund, acting as your guarantor so your parents can sleep easy.
Got a smaller need—say, ₹4 lakh or less? Enjoy zero interest. Then take your time to repay: up to 15 years, plus a full year after you graduate or land your first job. From tuition and hostel dues to books, laptops, and other essentials, GSCC has you covered. All that’s left is to focus on your studies—and your future.
Key Features of the GSCC Scheme
- Loan Amount: Up to ₹15 lakh for higher education, with no interest on loans up to ₹4 lakh.
- Interest Rate: A subsidized 4% simple interest rate for loans above ₹4 lakh.
- Repayment Period: Up to 15 years, with a one-year moratorium post-course completion or upon employment.
- No Collateral: Loans are collateral-free, with the state government acting as the guarantor.
- No Processing Fees: The scheme eliminates processing fees, reducing the financial burden on students.
- Additional Benefits: Female students receive extra incentives, and a 1% interest concession is offered for those who pay interest during their study period.
Eligibility Criteria
To qualify for the GSCC scheme, students must meet the following requirements:
- Residency: Must be a resident of Jharkhand and an Indian citizen.
- Educational Qualifications:
- For diploma courses: Must have completed Class 10 from a recognized school in Jharkhand.
- For undergraduate, postgraduate, or Ph.D. programs: Must have completed Class 10 and 12 from a recognized Jharkhand institution.
- Institution: Must be enrolled in a recognized institution, such as IITs, IIMs, NITs, AIIMS, or other institutes ranked up to 200 overall or 100 in their respective categories in NIRF rankings, or those with A or higher NAAC accreditation.
- Age Limit: Applicants must be under 40 years old.
- Loan Status: Students who have not previously availed an education loan for the same course are eligible. However, those with existing loans can apply after closing their prior loan and obtaining a No Objection Certificate (NOC) from the respective bank.
Application Process
The application process for the GSCC scheme is straightforward and can be completed online via the official portal at gscc.jharkhand.gov.in. Here’s a step-by-step guide:
- Visit the Official Website: Go to gscc.jharkhand.gov.in and click on the “Registration” button.
- Register: Enter your name, email ID, mobile number, and captcha code. Verify your mobile number using the OTP sent via SMS.
- Receive Credentials: After successful registration, you’ll receive a User ID, Password, and registration number via SMS.
- Log In: Use your credentials to log in to the portal.
- Complete the Application: Fill in personal, educational, and residential details. Upload required documents, including a profile photo, signature, admission letter, income certificate, Aadhaar card, PAN card, academic certificates, and caste certificate (if applicable).
- Select a Member Lending Institution (MLI): Choose a bank for loan processing.
- Submit: Click “Submit” to receive your Application ID. You can track your loan status using this ID on the portal.
- Loan Approval and Disbursement: The MLI reviews the application, approves or rejects it, and disburses tuition fees directly to the institution.
Students can also apply offline by contacting the Department of Higher and Technical Education, Jharkhand, or seeking assistance from organizations like Formfees, which provide counseling and application support.
Documents Required
Applicants must submit the following documents:
- Aadhaar card
- PAN card
- Income certificate
- Caste certificate (if applicable)
- Admission letter from the institution
- Academic certificates (Class 10/12 mark sheets)
- Bank account details
- Profile photo and signature
Benefits of the GSCC Scheme
The GSCC scheme offers numerous advantages for Jharkhand students:
- Financial Accessibility: Collateral-free loans up to ₹15 lakh make higher education affordable for low-income families.
- Comprehensive Coverage: Funds can be used for tuition, accommodation, books, laptops, travel, and other educational expenses.
- Low Interest Rates: A 4% simple interest rate (zero for loans up to ₹4 lakh) reduces repayment stress.
- Long Repayment Tenure: Up to 15 years to repay, with flexible options like extensions or restructuring if needed.
- Empowering Women: Additional benefits for female students promote gender equity in education.
- Success Stories: In its first year, the scheme supported 712 students with loans worth ₹70 crore, demonstrating its impact.
Also visit : https://postofficefd.com/category/yojana/