West Bengal student credit card scheme: Here's all you need to know

KOLKATA: West Bengal government is all set to roll out the 'credit card scheme' for students in the state on Wednesday.
The scheme will be launched by West Bengal chief minister Mamata Banerjee.
Higher education secretary Manish Jain on Tuesday wrote to the DMs that the students can take admission in coaching centres as well for competitive examinations by using this credit card.
The following are the details about the student credit card scheme:
*Beneficial for students pursuing higher studies and for those willing to pursue any professional course by taking admission in various coaching institutes to crack the competitive examinations like IIT entrance, joint entrance, NEET, CLAT, CAT and civil services entrance.
*Students can take admission in coaching centres as well for competitive examinations by using the credit card.
*Students can take admission in foreign universities by using this card and pursue the courses of their choice up to PhD or post-doctoral level.
*The credit card will enable the students to avail collateral security free loan up to Rs 10 lakh at a very nominal annual simple interest rate with repayment period of 15 years.
* The scheme covers education from Madhyamik level to professional courses including doctorate and post-doctorate research work in any recognized educational institute within or outside India.
*The education loan will cover various institutional and non-institutional expenses.