The West Bengal Student Credit Card (SCC) Scheme has achieved a huge milestone:
the state has officially crossed 1,00,000 sanctioned education loans under the scheme.
This makes it one of India’s most successful student-loan initiatives, helping thousands of students pursue higher education, competitive exam coaching, and even studies abroad — without financial stress.
Here’s what this milestone means and a complete guide to the scheme.
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What is the Bengal Student Credit Card Scheme?
It is a state-backed education loan scheme that offers up to ₹10 lakh at a very low interest rate of 4%, with long repayment tenure and no collateral. As of 2025, the scheme has crossed 1 lakh sanctioned loans, supporting students in higher education, skill development and competitive exam coaching.
What Is the Student Credit Card Scheme? (Simple Explanation)
The Student Credit Card Scheme (SCC) is a flagship program of the West Bengal government designed to make education affordable and accessible for all students.
Key Features:
💳 Loan up to ₹10 lakh
💸 Simple interest at 4% per annum
🎓 Covers higher education, vocational courses & coaching
🌍 Valid for overseas education
🏦 No collateral required
🕒 Repayment tenure up to 15 years (including moratorium)
📚 Covers tuition fees, hostel charges, books, equipment & exam fees
🚫 No margin money required
Why Crossing 1 Lakh Sanctioned Loans Matters
Reaching this milestone shows:
✔ Massive adoption
Students across districts — from Kolkata to rural Bengal — are benefitting.
✔ Financial inclusion
Families with limited income now have access to education financing.
✔ Reduced drop-out rate
Many students can now continue higher studies without worrying about money.
✔ Better access to coaching & skill development
The scheme covers fees for medical, engineering, civil service, and other competitive exams.
✔ Strong government commitment
Consistent interest subsidy and long repayment tenure makes education affordable.
Who Can Apply? (Eligibility)
Must be a resident of West Bengal
Students from Class 10 onwards can apply
Maximum age limit: 40 years
Must have proof of admission in any recognized institution in India or abroad
For coaching: must be enrolled in an approved coaching centre
What the Loan Covers
| Expense Type | Covered? |
|---|---|
| Tuition fees | ✅ Yes |
| Exam fees | ✅ Yes |
| Hostel/PG rent | ✅ Yes |
| Study materials, books | ✅ Yes |
| Laptop, equipment | ✅ Yes |
| Travel expenses for studying abroad | ✅ Yes |
| Coaching fees | ✅ Yes |
Benefits of the Scheme (For Students & Parents)
👍 1. Low interest @ 4%
Greatly reduces financial burden.
👍 2. No collateral or guarantor
Anyone can apply regardless of family assets.
👍 3. Long repayment tenure (up to 15 years)
Easy EMIs after studies.
👍 4. Helpful for middle-class & lower-income families
Affordable substitute for costly bank loans.
👍 5. Supports studies abroad
Massive help for students pursuing foreign degrees.
👍 6. Covers coaching
Makes professional exam preparation more accessible.
Things to Keep in Mind
Maximum loan is ₹10 lakh — may not fully cover costly foreign courses
Study plan must be approved by authorities
Repayment begins after the course or moratorium period
Documentation must be accurate and verified
Interest is simple, not compound — but still adds up
How to Apply (Step-by-Step)
Step 1:
Visit the official SCC portal.
Step 2:
Register with personal details.
Step 3:
Fill educational details & upload documents.
Step 4:
Choose the financial institution (assigned by system).
Step 5:
Application is verified and forwarded for loan sanction.
Step 6:
Loan disbursed to institution/bank account.
Why This Scheme Is a Game-Changer for Bengal
The scheme is creating:
More graduates
More competitive exam qualifiers
Higher foreign-education mobility
Empowered students from rural & poor backgrounds
Stronger educational aspirations statewide
Crossing 1 lakh sanctioned loans proves the scheme is working at scale.
Should You Apply?
If you are:
Preparing for competitive exams
Planning higher studies
Going abroad
Facing financial constraints
Then this scheme is highly recommended — due to its low interest, long tenure, and no-collateral model.
Vizzve Financial — Additional Support for Students
If you need help with:
Education loans beyond ₹10 lakh
Personal loans for additional expenses
Low-documentation financing
Vizzve Financial provides trusted loan assistance with easy approval.
👉 Visit: www.vizzve.com
FAQs
1. What is the loan limit under SCC?
Up to ₹10 lakh.
2. What is the interest rate?
4% simple interest.
3. Is collateral required?
No.
4. How many loans have been sanctioned?
Over 1 lakh.
5. Who announced the milestone?
Chief Minister Mamata Banerjee.
6. Is the loan valid for foreign studies?
Yes.
7. Does it cover coaching fees?
Yes.
8. What is the repayment period?
Up to 15 years.
9. Is there an age limit?
Up to 40 years.
10. Does the scheme cover hostel fees?
Yes.
11. Can students from any board apply?
Yes.
12. Is there income criteria?
No strict criteria, but documents required.
13. Do parents need to be co-borrowers?
Usually yes.
14. Is interest subsidized?
Yes, by the state.
15. How is the loan disbursed?
Directly to institution or account.
Conclusion
The West Bengal Student Credit Card Scheme crossing 1 lakh sanctioned loans is a huge milestone — and a major win for students seeking affordable, accessible education.
Whether it’s for higher studies, coaching, or foreign education, the scheme continues to empower students across the state.
👉 For Student Loan Apply through Vizzve Financial — www.vizzve.com
Published on : 1st December
Published by : SMITA
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