NEW DELHI: Bihar chief minister Nitish Kumar on Tuesday announced that education loans provided under the state’s Student Credit Card Scheme will now be completely “interest-free for all applicants.” The move comes months ahead of the Bihar assembly elections.Sharing the post on X, the Bihar CM said that the decision would “boost students’ morale” and encourage more young people to pursue higher education.“I am extremely delighted to inform you that now the education loan provided under the Student Credit Card Scheme will be interest-free for all applicants,” Nitish wrote on X.The CM also extended the repayment period for student loans. Borrowers of up to Rs 2 lakh will now get seven years (84 monthly instalments) instead of five years to repay, while those with loans above Rs 2 lakh will get up to ten years (120 monthly instalments) instead of seven years, the CM said.In Bihar, under the 07 Nischay Scheme, the Bihar Student Credit Card Scheme has been in effect since 02 October 2016 for students who have passed their 12th class and wish to pursue higher education. “Under the Bihar Student Credit Card Scheme, an education loan of up to 04 lakh rupees is provided for higher education at an interest rate of 4 per cent for general applicants, and at a mere 1 per cent interest rate for female, differently-abled, and transgender applicants,” Kumar notedUntil now, loans were available at 4% interest for general applicants and at 1% interest for women, differently-abled, and transgender students.“Our aim is to ensure that as many students as possible in the state can access higher education. These facilities provided in the education loan for higher education will boost students’ morale, enabling them to pursue higher education with greater enthusiasm and dedication, thereby shaping not only their own future but also the future of the state and the country,” Nitish noted.