BHU starts interest-free loan scheme; economically weak students to get aide of Rs 12,000

Varanasi: The Banaras Hindu University has started a interest-free loan assistance scheme for its students who face challenges in pursuing education owing to their weak economic condition.

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Under the scheme, students whose family hold a below poverty line (BPL) card, or whose parents have succumbed to COVID-19 or are no more, and the child was dependent on their earnings, will be given an annual assistance of Rs 12,000, according to a statement.

This has been done so that they can complete their education at the university in an uninterrupted manner. To avail the scheme, recommendation from two faculty members is necessary. Vice-Chancellor Prof Sudhir Kumar Jain in the statement said that the university will extend all possible help to students so that they could complete their studies.

The financial assistance will be an interest-free loan, he said. As of now, as many as 1,000 students will be given the benefit of this scheme.

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So far, around 200 applications have come in this regard, and 103 applications have been approved, according to the statement. After getting employment, the student can pay the loans in installments in two years, it said.

The responsibility of paying the loans will not be on the parents of the student, nor on the faculty members, who had recommended the name of the students for the loan, the statement said.