The Comprehensive Guide to Guruji Student Credit Card (GSCC) Scheme

In the quest to elevate the Gross Enrollment Ratio (GER) and broaden the accessibility of Higher Education, the State Government of Jharkhand has undertaken significant strides. Since 2016, four new universities have been established alongside 19 private universities since 2007. Additionally, 19 new Government Colleges, including Women’s colleges, Model colleges, Degree colleges, and Medical colleges, have been inaugurated in aspirational districts, educationally backward districts, and remote regions, supplementing the existing 63 constituent colleges.

The Comprehensive Guide to Guruji Student Credit Card (GSCC) Scheme

The Basic Implementation Framework of the Guruji Student Credit Card (GSCC) Scheme is meticulously designed to provide financial support to students from economically challenged backgrounds. This initiative aims to assist students who have completed Class 10th from a recognized school in Jharkhand for diploma courses, and those who have completed Class 10th and Class 12th for undergraduate and higher courses. The scheme extends its reach to include undergraduate, postgraduate, professional degree, diploma, and research programs at various esteemed institutions across India, such as IITs, IIMs, AIIMSs, NITs, B.Tech Courses, and others.

Key Features of the Guruji Student Credit Card (GSCC) Scheme:

1. Financial Support: 

Meritorious students can avail loans of up to Rs 15 lakhs at a nominal interest rate of 4% per annum from State Cooperative Banks, Central Cooperative Banks, District Central Cooperative Banks, and Scheduled Commercial Banks operating in Jharkhand.

2. Eligibility Criteria:

To qualify for the GSCC Scheme, students must be Indian nationals who have completed their schooling in Jharkhand and secured admission in institutions ranked up to 200 in NIRF Rankings or accredited grade "A" or above by NAAC.

3. Age Limit: 

Applicants should not exceed 40 years of age at the time of loan application.

4. No Previous Beneficiary: 

Students who have not previously availed of loans under this scheme are eligible to apply.

5. Interest Rate Subvention: 

The effective rate of interest for the entire loan quantum up to Rs 15 lakhs is capped at 4% simple interest per annum, after the application of interest subvention by the Department of Higher and Technical Education (DHTE), Government of Jharkhand.

Guruji Student Credit Card Handbook: Nurturing Minds, Easing Burdens

The comprehensive handbook titled "Nurturing Minds, Easing Burdens: Jharkhand's Visionary Education Support Program" serves as a guiding beacon for students, educators, and stakeholders involved in the GSCC Scheme. It outlines the program's objectives, eligibility criteria, loan procedures, and other relevant details essential for successful implementation.

Institutions and Banks Involved

Under the GSCC Scheme, students can seek admission to all top government and private colleges in India. The scheme collaborates with prominent banks like HDFC Bank and Dhanbad Central Cooperative Bank to facilitate loan disbursements and financial assistance seamlessly.

Other Supportive Schemes

In addition to the Guruji Student Credit Card Scheme, the Jharkhand Government offers other schemes like Eklavya Prashikshan Yojna and Mukhyamantri Shiksha Protsahan Yojna to further enhance educational opportunities and support for students.

Awareness and Outreach Programs

To ensure maximum participation and awareness about the GSCC Scheme, a multi-level awareness campaign and outreach program are in place. Activities include poster campaigns, advertisements in newspapers, cinema halls, and on social media platforms, along with seminars and workshops conducted by educational authorities at various levels.

Application and Loan Disbursement Process:

The application and loan disbursement process under the Guruji Student Credit Card (GSCC) Scheme ensures transparency, efficiency, and adherence to the stipulated guidelines. Below is a step-by-step guide outlining the procedure:

1. Registration on the Web Portal: The student, referred to as the THIRD PARTY, registers on the designated web-based portal by providing the required details as approved by the authorities, known as the FIRST PARTY.

2. Submission of Loan Application: The THIRD PARTY submits a detailed loan application form in the format approved by the FIRST PARTY.

3. Undertaking and Disclosure: Along with the application, the THIRD PARTY submits an undertaking affirming the truthfulness of fulfilling all eligibility criteria under the scheme. Additionally, the student discloses details of any benefits availed under scholarship schemes, if applicable.

4. Upload of Documents: The THIRD PARTY uploads essential documents, including the admission letter and fee payment schedule issued by the educational institute.

5. Approval and Sanctioning: Following due scrutiny and verification, the SECOND PARTY approves the student loan application, determining the quantum of the loan amount and the timeline for disbursement. In the event of rejection, proper justification for the decision is provided.

6. Issuance of Sanction Letter: Upon sanctioning the loan, the SECOND PARTY issues a sanction letter specifying the loan amount, applicable interest rate, moratorium period or repayment holiday, and repayment schedule.

7. Disbursement to Academic Institution: The SECOND PARTY disburses the approved loan amount directly to the academic institution. The disbursement is made to the designated bank account of the institute as per the payment schedule uploaded by the THIRD PARTY.

8. Interest Subvention: The web portal facilitates the automatic payment of interest subvention against the disbursed loan amount to the SECOND PARTY. This process occurs as per the agreed frequency between the FIRST PARTY and the SECOND PARTY.

By adhering to this systematic process, the GSCC Scheme ensures that eligible students receive timely financial assistance to pursue their higher education goals without undue financial burden.

Frequently Asked Questions (FAQs)

Q1: Who is eligible for the Guruji Student Credit Card Scheme?

A: Indian nationals who have completed their schooling in Jharkhand and secured admission in recognized institutions are eligible. They should also meet certain age criteria and not have availed of loans under this scheme previously.

Q2: What is the maximum loan limit under the GSCC Scheme?

A: Students can obtain loans of up to Rs 15 lakhs at a nominal interest rate of 4% per annum.

Q3: How can students apply for the GSCC Scheme?

A: Eligible students can apply through the designated portal and fulfill the necessary documentation requirements specified by the lending institutions.

Contact Information:

For any inquiries or assistance regarding the Guruji Student Credit Card (GSCC) Scheme, you can reach out to the following contacts:

Department: Higher and Technical Education.

  • Contact Person: Swapnesh Das  
  • Email ID:

Department: Technical Support

  • Contact Person: Rajnish Pandey  
  • Email ID:

Feel free to contact the respective departments for guidance, support, or clarification on any aspect related to the GSCC Scheme.

In conclusion, 

The Guruji Student Credit Card (GSCC) Scheme stands as a beacon of hope for meritorious students aspiring for higher education in Jharkhand. By providing financial assistance at affordable rates, the scheme paves the way for countless individuals to realize their academic dreams and contribute meaningfully to society.

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