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Bengal to launch credit scheme for students to pursue higher studies | Latest News India

There shall be a credit restrict of 10 lakh beneath the scheme on the curiosity rate of 4% with the availability of straightforward compensation

PUBLISHED ON JUN 30, 2021 10:53 AM IST

The West Bengal authorities will on Wednesday launch a scheme beneath which students can avail credit up to 10 lakh to pursue higher studies in India and overseas. The scheme was among the many ruling Trinamool Congress (TMC)’s ballot guarantees and was authorised by the state Cabinet on June 24.

Around two million students are eligible for the scheme. “Parents would not have to sell their properties to help their children pursue higher education. With this money, students can pursue graduation, post-graduation, professional courses, diploma, PhD, post-doctorate and can even go for research…in both India and abroad,” chief minister Mamata Banerjee mentioned final week.

There shall be a credit restrict of 10 lakh beneath the scheme on the curiosity rate of 4% with the availability of straightforward compensation. “Anyone aged up to 40 and who has resided in the state for at least 10 years can avail this. It is a soft loan for the students for which they do not have to bring any guarantor. The state government would be the guarantor. Students can repay the loan within a period of 15 years after getting a job,” mentioned an official.

Banerjee will launch the scheme. The state authorities may also launch a portal for students to register for it.

The TMC authorities has additionally began distributing 10,000 amongst students of Class 12 to assist them buy laptops for on-line lessons through the pandemic. Schools and schools are closed in West Bengal and the state authorities has additionally cancelled the board exams.

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