Guruji scheme's Handbook
Nurturing Minds, Easing Burdens: Jharkhand's Visionary Education Support Program.
Up to ₹15 Lakhs
Collateral-Free Education Loan
4% / 3% Net Interest
Subsidised Simple Interest Rate
100% State Guarantee
Full Credit Guarantee to Banks
Top Institutes
NIRF Top 200 & NAAC A/A+
Scheme Objective
An overarching goal of the State Government is to guarantee that every student has the chance to access higher education in top institutions of the Country, regardless of their collateral free full guaranteed education loan up to Rs 15 Lakh. This commitment aims to eliminate any barriers that might prevent students from pursuing further studies due to financial constraints.
The objective of this scheme is to offer financial aid from the State Government to students who have successfully completed their Class 10th education in a recognized school within Jharkhand. This assistance entails nominal interest rates, accompanied by appropriate guarantees to the bank. The support aims to facilitate the pursuit of diploma courses for these students. Additionally, students who have completed their Class 10th and Class 12th education from recognized schools in the state are also eligible for this support, intended to assist them in pursuing undergraduate and higher-level courses.
One of the major objectives of the State Government is to ensure that no student is denied the opportunity to pursue higher education because of their financial condition. To achieve this objective and to facilitate meritorious students from financially weaker sections to pursue higher studies, the State Government proposes to support the students by providing an education loan, having a maximum limit of Rs. 15 lakhs (Rupees fifteen lakhs) available at subsidised rate of 4% simple interest rate per annum, so that the students can avail necessary funds as and when needed for their education.
Who Can Apply
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Educational & Residence Qualification
Must have a valid Local Residence Certificate of Jharkhand issued by Competent Authority OR Passed Class 10th from any recognized School in Jharkhand, if applying for loan to pursue Diploma Level Programmes OR Passed Class 10th and Class 12th / Diploma from any School / College / University in Jharkhand, if applying for loan to pursue Degree Level Programmes.
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Age Upper Limit
Must not be more than 40 Years of age while applying for the loan.
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Prior Beneficiary Clause
Must not be prior beneficiary of the Scheme.
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Admission Status
Must have secured admission in any eligible College / University (List of Institutions) under the Scheme.
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No Objection Certificate
No Objection Certificate (in case you have an existing loan and have foreclosed it before applying for loan under the Scheme).
Loan and Interest Rate Standard
Maximum Credit Limit
Rs. 15 Lakhs
Maximum amount of loan eligible under the scheme is Rs. 15 (Fifteen) lakhs available collateral free to eligible students.
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Applicable Bank Rate:
The applicable simple interest rate for all education loans under GSCC is EBLR of SBI + 1.5% for Male Student, and EBLR of SBI + 1% for Female Student.
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Study Period Option:
The student has the facility to either pay interest during the study period or pay principal + accrued interest in the form of EMI after the study period.
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Net Subsidised Rate to Student:
The end interest rate after provisioning for Subsidy from State Government shall be 4% for students who don’t pay interest during study period and 3% for students who pay interest during study period.
Documents to Keep Ready
Keep the following documents and information handy while proceeding to fill the application form:-
Basic Information Details:
- Basic Information such as Name, Age, Gender and Social Category.
- Details of academic institution from where student passed Class 10th and Class 12th / Diploma.
- Personal Bank Account Details of the Student.
- Details of Academic Institution, Course, Duration and Tuition Fees.
- Choice of Bank, District and Branch Details for seeking loan.
- Break-up of Institutional and Non-Institutional Amount.
- Mobile Number linked with Aadhaar Number for OTP Certification.
Mandatory Scanned Uploads:
- Marksheet & Certificate of Class 10th
- Marksheet & Certificate of Class 12th
- Aadhaar Card of Student & Co-applicant
- Photo & Signature of Student
- Photo & Signature of Co-applicant
- Passbook / Cancelled Cheque (Student)
- Passbook / Cancelled Cheque (Co-applicant)
- Proof of Admission in Academic Institute
- Fee Structure provided by Institute
- No Objection Certificate (If foreclosed prior loan)
How the loan application moves
Five stages, in this order. The helpline is support, not a stage in the loan.
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Student
Register and submit the application
If you meet the eligibility rules, complete student registration and submit the loan application on the portal.
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Bank
Branch scrutiny
The selected bank branch checks the application. For a query, contact the bank nodal officer.
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Bank
Approval and loan account
The bank completes its internal approval. If the loan is approved, the bank enters the loan account number and the institutional and non-institutional breakup on the portal.
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Bank, student, department
Sign the tripartite agreement
The bank downloads the tripartite loan agreement, signs it, gets it signed by the student and co-applicant, and sends it to the department nodal officer.
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Department, then bank
Upload the agreement and disburse
The department nodal officer signs the agreement and returns it to the bank. The bank uploads it on the portal and disburses the institutional amount to the institute.
Stuck while filling the online application? Call 1800-569-3311 on working days.
Eligible Institutions Standard
Search Full List of InstitutionsAn institution is eligible under the GSCC scheme when it satisfies any of the following criteria:
- Valid Accreditation of NAAC 'A' Grade or above
- Ranked within Top 200 in Overall Category of NIRF Rankings
- Ranked within Top 100 in Domain Specific NIRF Rankings
- Notified as Institutions of National Importance by GoI
- Notified as Institutions of Eminence by UGC / MoE
- Institute of Hotel Management, Catering Tech & Applied Nutrition
- National Institute of Fashion Technology (NIFT)
- National Institute of Design (NID)
- All Central Universities notified by Government of India
- Govt Medical Colleges & Deemed Univs in Jharkhand
- Xavier Institute of Social Science (XISS), Ranchi
- NIAMT (formerly NIFFT), Ranchi
- BIT Sindri, Dhanbad
- CIPET, Ranchi & Birsa Agriculture University, Ranchi
In case your institution satisfies any of the mentioned criteria and is not listed under the Scheme, please share proof of qualification on highereducationjharkhand@gmail.com with cc on nepdhte.jharkhand@gmail.com.
Official scheme documents and guidelines
Open a PDF in a new tab. Each file is an official scheme document.