Shillong, August 18: BSFC, the Bihar State Finance Corporation, has taken action against more than 22,000 students who, despite being employed, have not repaid the loans they obtained for their education.
As per IANS, a total of 22,849 students who have secured jobs across different sectors were identified by BSFC. Following this identification, the district branches of BSFC were directed to initiate proceedings against these individuals, resulting in the issuance of official notices.
The majority of the offenders, numbering 1,889, are from the Patna district. Additionally, significant numbers of students from districts such as Araria, Samastipur, Muzaffarpur, Gaya, and Supaul—1150, 925, 873, 866, and 823 respectively—have failed to fulfill their loan repayment obligations to BSFC.
The students availed loans under the Bihar government’s Bihar Student Credit Card Policy (BSCCP), a special initiative that permits students to borrow funds for education purposes. Upon gaining employment, they are required to repay the borrowed amount to BSFC without incurring any interest.
BSFC extends a one-year grace period to employed students for repaying their study loans through installments. For those students who complete their studies but are unable to secure employment, BSFC offers an option to file online affidavits every six months. As of now, 4,312 students falling within this category have submitted affidavits to BSFC.