Good News! BHU Launches Interest-Free Loan Scheme For Students

The Banaras Hindu University (BHU) has launched an interest-free loan assistance scheme for students who are unable to continue their studies due to financial constraints.

Students from the farming community can also take benefit from this scheme.

According to a statement, students whose family has a BPL card, or whose parents have succumbed to COVID-19 or are no longer alive, and the kid was reliant on their earnings, would be provided an annual support of Rs 12,000 under the scheme.

This has been done so that they can complete their university degree in a timely way. A referral from two faculty members is required to participate in the scheme.

In a statement, Vice-Chancellor Prof Sudhir Kumar Jain stated that the institution will provide all feasible assistance to students in order for them to complete their studies. He stated that the financial support will be in the form of an interest-free loan.

As of today, up to 1,000 students will be able to take use of this scheme. According to the statement, roughly 200 applications have been received in this respect, with 103 being approved.

It said that after the student obtains employment, he or she will be able to pay back the loans in two years in instalments. The burden for repaying the loans will not fall on the student's parents or faculty members who suggested the students for the loan, according to the statement.

Few weeks back, BHU also announced scholarships for international students studying at the university under the "Scholarship to International Students" program. This new scholarship program to enroll overseas students. The "Scholarship to International Students" program is likewise aimed at attracting and encouraging more international students for enrolling at the university.

Foreign students will get Rs 6000 per month under the initiative, which will be renewed annually based on acceptable performance. If a student is currently receiving a lower-value scholarship, he or she will be eligible for the difference.