With the rising cost of education, many students and parents look for financial support to manage fees, books, and other academic expenses. To help students continue their education without financial pressure, banks and state governments in India have introduced Student Credit Card schemes.
In 2025, these cards are becoming more popular as they offer easy access to education loans, flexible repayment options, and lower interest rates compared to regular personal loans.
What Is a Student Credit Card?
A Student Credit Card is a special credit facility designed for students to fund their education-related expenses. Unlike normal credit cards, this card works more like an education loan, where the student gets a credit limit to pay college or course fees.
Repayment usually starts after completion of studies, making it easier for students to focus on education first.
Key Benefits of Student Credit Card
Helps pay college or university fees
Covers coaching, books, laptop, and study material
Lower interest rates compared to personal loans
Repayment starts after course completion
Flexible tenure and EMI options
No immediate financial burden on students
Basic Eligibility
Applicant must be an Indian citizen
Age usually between 18 and 25 years
Must be enrolled in a recognized college, university, or institute
Admission should be confirmed for:
Undergraduate courses
Postgraduate courses
Professional courses (Engineering, Medical, Law, Management, etc.)
Academic Requirement
Minimum educational qualification as per course requirement
Valid admission letter from institution
Guarantor Requirement
In most cases, parent or guardian as guarantor
Some state schemes do not require collateral
Income & Credit Requirements
Student’s income is not mandatory
Parent/guardian income may be assessed
No prior credit history required for students
Good financial standing of guarantor improves approval chances
Documents Required
You will usually need:
Aadhaar Card
PAN Card (if available)
Admission letter from college/institute
Fee structure or prospectus
Residence proof
Passport-size photographs
Parent/guardian income proof
How to Apply for Student Credit Card Online (2025)
Step-by-Step Online Process
1. Visit the official website of your state student credit card scheme or bank
2. Register using mobile number and email ID
3. Fill in personal and academic details
4. Upload required documents
5. Submit application
6. Verification by bank or education department
7. Approval and card/loan sanction
Once approved, the credit amount is usually paid directly to the educational institution.
Offline Application Option
Students can also:
Visit the nearest bank branch
Apply through education department help centres
Use CSC centres in some states
Credit Limit & Interest Rate
Credit limit generally ranges from ₹1 lakh to ₹10 lakh
Interest rates are lower than personal loans
Some state schemes offer interest subsidy
Moratorium period available during studies
Repayment Terms
Repayment usually starts after course completion
EMI tenure can go up to 10–15 years
Early repayment is allowed in most cases
No penalty during the moratorium period
Who Should Apply for a Student Credit Card?
This scheme is ideal for:
Students from middle- or low-income families
Students pursuing higher education
Those who do not want immediate repayment pressure
Families looking for affordable education financing