Patna,(BiharTimes): Expressing doubts over the success of Students’ Credit Card scheme former deputy chief minister Sushil Kumar Modi (SuMo) on Thursday. felt that bankers would be overly concerned about the return of the loans given to students under the Nititsh government’s educational loan scheme.

The chief minister had last year announced that the Scheme would be launced from October 2, 2016.
But SuMo said the banks annually give educational loans to around 35,000 students of Bihar under the Union government’s education loan scheme, and have, so far, disbursed Rs 3,014 crore among 1.03 lakh students since the scheme was launched by the then Manmohan Singh government in 2009.

The former state finance minister also asked why students should be given loans from October, when the academic sessions of all the universities and educational institutes start from July.

As announced the state government had decided to issue SCCs to five lakh desirous students. They will be able to get educational loan of Rs four lakh to pursue higher education. Nitish Kumar has made it amply clear that the loan would not be only for technical education but for other streams too.

The government would open district registration centres to register the desirous students and also receive applications from them. Every student would have to put his Aadhar number in the application, apart from the names of third party guarantors, to ensure that the students concerned do not end up as bank defaulters.

It needs to be mentioned that during the last year’s election campaign he had made mention about this scheme in all the 218 rallies.