West Bengal Chief Minister Mamata Banerjee has announced a major milestone for the state’s Student Credit Card Scheme. The number of sanctioned education loans under the scheme has officially crossed 1,00,000, marking a significant achievement for one of the government’s most ambitious education-support programmes.
Launched in June 2021, the Student Credit Card Scheme aims to make higher education affordable and accessible for students across West Bengal. The idea is simple: no student should have to give up on education because of financial constraints.
Happy to share that under our Student Credit Card Scheme, the number of sanctioned cases has crossed today the landmark figure of 1,00,000.
— Mamata Banerjee (@MamataOfficial) November 28, 2025
In this flagship scheme of our Government, the students are provided education loan up to Rs 10 lakh at a very nominal interest rate.…
What the scheme offers students
Under the scheme, eligible students can get an education loan of up to Rs 10 lakh at a very low interest rate. This money can be used for a wide range of purposes, from undergraduate and postgraduate studies to professional courses, specialised training and even higher education abroad.
The loan can also cover expenses such as books, laptops, accommodation, tuition fees and coaching for competitive exams. One of the biggest advantages is that the loan requires no collateral, which makes it accessible even to students from financially weaker families.
Students can start repaying the loan only after they secure a job and they get up to 15 years to repay the amount, easing financial pressure during the early stages of their career.
Who can apply?
To be eligible, a student must be a resident of West Bengal for at least 10 years and not older than 40 years at the time of application. The scheme is open to students from all streams: engineering, medicine, arts, science, law, management and more.
With more than 1 lakh students already benefiting from it, the Student Credit Card Scheme has emerged as a powerful tool in supporting young talent and helping them pursue their academic goals without financial stress.
