Know about the Guruji Student Credit Card Scheme 2025: Jharkhand’s Visionary Higher Education Loan Plan

Get detailed insights into the Guruji Student Credit Card Scheme (GSCC) by the Jharkhand Government. Learn eligibility, benefits, application process, and how students can avail up to ₹15 lakh at just 4% interest.

📝 Overview

The Guruji Student Credit Card Scheme (GSCC) is a flagship initiative launched by the Department of Higher & Technical Education, Government of Jharkhand, aimed at enabling financial access to higher education for economically weaker but meritorious students.

Education loan at 4% interest

Announced via a Government Gazette Notification dated 25 October 2023, the scheme is expected to be a game-changer in improving the Gross Enrollment Ratio (GER) and removing economic barriers for higher studies.

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🎯 Objective

The primary goal of GSCC is:

• To ensure that no student is denied the opportunity for higher education due to financial hardship.

• To increase GER in Jharkhand to the national average and beyond by 2035.

• To provide inclusive access to students in aspirational districts, remote and backward areas.

📌 Key Features at a Glance

🎓 Who Can Apply?

✅ Eligibility Criteria:

1. Indian national residing in Jharkhand.

2. Completed:

   • Class 10 from Jharkhand-recognized school (for Diploma)

   • Class 10 & 12 from Jharkhand (for UG and above)

3. Admission must be secured in:

   • Top 200 Overall NIRF-ranked institutes

   • Top 100 category-wise (Engg, Law, Medical, etc.)

   • NAAC “A” grade or above institutes

4. Maximum age: 40 years at time of application

5. Must not be a prior GSCC beneficiary.

6. Must not have availed an education loan for the same course.

💼 Courses & Institutions Covered

• UG, PG, Ph.D., Post-doctoral

• Professional Degrees: Engineering, Law, Medicine, Management, Design

• Institutions like:

  • IITs, IIMs, AIIMS, NLUs, IISc, ISI, IIEST

  • NITs, BITS, SPA, XLRI, NID, ICFAI Business School

  • And other eligible accredited institutions within India

💡 Purpose of Loan

🔷 Institutional Expenses (Direct to College):

• Tuition, hostel, mess, caution, exam, lab, digital devices (if included)

🔷 Non-Institutional Expenses (Up to 30%):

• PG rent / off-campus housing

• External food/mess

• Study tours, travel

• Medical support (specially-abled)

• Childcare for mothers (0–5 years)

• Semester-wise advance payment option available

🔄 Loan Application & Approval Process

1. Register on GSCC Web Portal.

2. Submit application, documents, and declarations.

3. Choose a Bank (MLI) from the list.

4. Bank verifies and sanctions the loan.

5. Funds are released:

   • Institutional fee → to college

   • Non-institutional costs → to student’s account

6. Interest subvention managed by Corpus Bank (HDFC).

🔐 Credit Guarantee & Recovery Framework

• State Government acts as Guarantor.

• No Collateral needed.

• If loan defaults:

  • Corpus Bank reimburses under Credit Guarantee

  • State invokes PDR Act (Bihar-Odisha Public Demand Recovery Act – Jharkhand Amendment)

“How to Apply for GSCC”

📝 Step-by-Step Application Process for GSCC Scheme

🔹 STEP 1: Student Registration

• Visit the official GSCC Portal (To be launched by HDFC Bank/Corpus Bank).

• Click on “Register as Student”.

• Fill in basic details like:

  • Name

  • Aadhaar Number

  • Contact details (mobile, email)

  • Educational qualification (10th/12th marks)

  • Preferred bank (MLI)

  • Upload photograph & ID proof

🔹 STEP 2: Submit Loan Application

• Log in to the portal with your registered credentials.

• Fill the loan application form with:

  • Course details

  • Institution name (must be NIRF-ranked or NAAC “A”)

  • Total fee structure (upload scanned document)

  • Bank details (for non-institutional disbursement)

• Upload the admission letter & fee schedule.

🔹 STEP 3: Submit Required Undertaking

• Download the official declaration form from portal.

• Sign and upload stating:

  • You meet eligibility criteria.

  • You haven’t availed education loan for same course.

  • Any existing scholarship details (if any).

🔹 STEP 4: Choose Member Lending Institution (MLI)

• Select your preferred bank (State Bank, HDFC, etc.) from the list.

• The chosen bank will be responsible for:

  • Verifying documents

  • Sanctioning the loan

  • Disbursing funds

🔹 STEP 5: Loan Sanction by MLI

• Bank reviews your:

  • Eligibility

  • Documents

  • Course & institution

• If approved:

  • Loan sanction letter issued

  • Repayment timeline uploaded on portal

  • Corpus Bank (HDFC) blocks interest subvention amount

🔹 STEP 6: Disbursement of Funds

• Institutional Fee is directly transferred to college/institution.

• Non-Institutional Expense (max 30%) like PG rent, food, travel etc., is transferred to student’s account after bill submission.

• Students may also get a one-time advance per semester for non-institutional needs.

🔹 STEP 7: e-Card Issuance

• After loan approval, students receive a system-generated GSCC e-CARD.

• Can be saved digitally or printed.

🔹 STEP 8: Track & Reimburse

• Regularly update the portal with:

  • Marksheets (each semester)

  • Fee receipts

  • Travel or food bills (for non-institutional claims)

• Portal tracks total disbursement and interest subsidy.

• No need to visit the bank in person once application is approved.

📌 Documents Required