The Bihar government launched the Interest Free Education Loan Bihar scheme for students ahead of the 2025 elections. Chief Minister Nitish Kumar announced that class 12 pass students will get loans up to ₹4 lakh without interest. Earlier, the scheme carried a 4% interest rate.
The government also extended the repayment period. Loans up to ₹2 lakh can now be repaid in 84 EMIs (7 years). For loans above ₹2 lakh, the period has been raised to 120 EMIs (10 years). This change will ease the burden on students.
Nitish Kumar said the aim is to help more students pursue higher studies. The Interest Free Education Loan Bihar scheme will motivate youth and reduce financial stress.
This move follows other populist steps like free 125 units of power and financial support for women. Political observers call it a clear election strategy. The scheme is expected to benefit lakhs of students and boost Bihar’s education sector.
