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News Desk: West Bengal CM Mamata Banerjee launched the Student Credit Card ten days ago and is running successfully. According to this scheme, an education loan of upto ₹10 lakh will be made available for higher studies in India and abroad. All course fee, tuition and hostel fee, expenses for books and laptops will be covered under this scheme. The period of repayment will be 15 years and persons till the age of 40 years can avail themselves of the benefits of the scheme.
The scheme has received more than 25,000 applications. An official said “The applications we received till date covers Rs 1,355 crore. The number of applications is expected to go up. It covers students right from Class X to those pursuing higher education which include researchers. Students up to the age of 40 can apply. The beneficiaries will get 15 years to repay the loan with a nominal interest rate of 4 per cent”
