Bihar: Notices issued to over 22,000 students for loan repayment

The Bihar State Finance Corporation (BSFC) has served notices to 22,849 students who are now employed but still refused to repay the loans they had taken for their studies. According to a BSFC official, the state headquarters asked the district wings to take action against the offenders, after which, the officials served the notices.

The students had taken loans under the state government's special project called Bihar Student Credit Card Policy (BSCCP), after the approval of district BSFCs. Under this facility, students are entitled to take study loans and return the money without any interest to the corporation after obtaining jobs. A time of one year is given to the borrowers to repay the loan amount in installments, as per a report by IANS.

In the present case, the maximum number of offenders (1,889) are from the Patna district. Besides, 1150 students from Araria, 925 from Samastipur, 873 from Muzaffarpur, 866 from Gaya and 823 from the Supaul district have failed to repay the amount to the corporation.

A special facility is given by BSFC to students who failed to get jobs after their study period has concluded and they have passed the examinations. Such students have to file online affidavits before the BSFC every six months so as to be exempted from repayment. So far, 4312 students have filed affidavits with BSFC under the same category, as per IANS.