In the contemporary era, acquiring a degree is no more a ‘good to have’, but rather a mandatory requirement. Regretfully, far too many students are not able to gain access to such education due to their finances. To help these students, the Government of Bihar started the Student Credit Card Scheme. The purpose of this initiative is to help students with their college expenses and uplift them economically. In this article, we will discuss the complete details about the Student Credit Card in Bihar, like how to apply, eligibility, interest rate, and others.
What is a Student Credit Card in Bihar?
The Bihar Student Credit Card Scheme (BSCCS) was launched on 2nd October 2016 under the Mukhyamantri Nishchay Swayam Sahayata Bhatta Yojana. The scheme aims to provide educational loans to students up to ₹4 lakhs for pursuing higher education (Graduation, Polytechnic, Technical, or Vocational Courses).
Unlike regular credit cards, the Student Credit Card in Bihar is not used for shopping or cash withdrawals but is a form of education loan with easy repayment options. The loan is provided at minimal interest rates and includes a moratorium period, which means students don’t have to repay the loan until after completing their studies and securing a job.
Objectives of the Bihar Student Credit Card Scheme
- To promote higher education among economically weaker students in Bihar.
- To reduce school dropout rates after Class 12.
- To empower youth by helping them become financially independent.
- To bridge the gap between aspiration and affordability in education.
Who Can Apply for the Bihar Student Credit Card Scheme?
Here are the eligibility criteria for applying for the Bihar Student Credit Card:
- The applicant must be a permanent resident of Bihar.
- The applicant must have passed Class 12 from a recognised board.
- The student must be admitted to a recognised higher education institution in India.
- Age limit: The applicant must be within 25 years of age (relaxation applicable in certain cases).
- The course should be approved by UGC/AICTE/Medical Council/State Govt.
Loan Details under Bihar Credit Card Scheme
The student credit card provides a loan of up to ₹4,00,000, which can be used for:
- Tuition fees
- Purchase of books and study materials
- Hostel and mess charges
- Examination and lab fees
- Other educational expenses
Repayment Terms:
- The loan repayment begins after 1 year of course completion or 6 months after getting a job.
- The interest rate is very low, and in many cases, it is subsidised by the government.
Student Credit Card Bihar Interest Rate
The interest rate on the Bihar Student Credit Card loan is extremely low to encourage students from all economic backgrounds. Generally:
- Female, transgender, and Divyang (disabled) students: 0% interest
- Male students: Up to 1% interest
The interest is calculated annually, and the government may provide a subsidy on the interest amount during the study period and moratorium.
Documents Required for Bihar Student Credit Card Application
To apply for the scheme, the student needs to submit the following documents:
- Aadhaar Card of the student and parents
- Class 10 and 12 mark sheet
- Admission proof from college/university
- The fee structure issued by the college
- The bank passbook of a student
- Passport-size photographs
- Income certificate
- Residential certificate (Bihar domicile)
- PAN Card (if available)
How to Apply Student Credit Card in Bihar – Online Process
The Bihar Student Credit Card application online process is simple and student-friendly. Here is a step-by-step guide:
Step 1: Visit the Official Website
Go to the official Bihar Student Credit Card Portal
Step 2: Registration
- Click on “New Application Registration”
- Fill in your details such as name, mobile number, email ID, and Aadhar number.
- Choose the scheme: Student Credit Card.
- Submit the form and verify via O.T.P.
Step 3: Login & Form Filling using the received credentials
- Fill in the complete application form, including academic and personal details
- Upload scanned copies of the required documents.
Step 4: Submit the Application
- Submit the form online.
- Take a printout of the application.n
Step 5: Document Verification at DRCC
- Visit the District Registration and Counselling Centre (DRCC) in your dist.rict
- Carry all original documents for verification
- Your application will be forwarded for further approval.
Courses Covered Under Bihar Student Credit Card Scheme
Students can avail of loans under the scheme for pursuing:
- B.A., B.Sc., B.Com.
- B.Tech, BCA, BBA, MBA, MCA
- Polytechnic Diploma
- Medical and Paramedical Courses
- Law, Agriculture, Nursing
- Vocational and technical courses approved by recognised institutions
Advantages of the Bihar Student Credit Card Scheme
- Easy Accessibility: Online application and district-level centres make the process convenient.
- Low Interest Rate: Especially beneficial for girls and disabled students.
- Moratorium Period: No repayment pressure during studies.
- Covers Multiple Courses: Both academic and professional streams.
- Financial Independence: Encourages self-dependence and boosts confidence.
- No Collateral Required: The loan is provided without any need for security.
Current Statistics of the Scheme
As of now, lakhs of students from Bihar have benefited from the scheme. According to official reports:
- Over 4 lakh students have registered.
- Loans worth more than ₹3000 crores have been sanctioned.
- The scheme has reduced dropout rates significantly in Bihar.
Important Points to Remember
- Always ensure the course and institution you are applying for are recognised.
- Make sure all documents are clear and authentic.
- Regularly check application status online.
- Repayment responsibility lies with the student after the moratorium period.
Helpline and Contact Details
- Helpline Number: 1800-3456-444 (Toll-Free)
- Email: he***********@***il.com
- Official Website: https://www.7nishchay-yuvaupmission.bihar.gov.in
Conclusion
The Student Credit Card in Bihar is an exemplary initiative from the Bihar Government aimed at providing educational opportunities for all the students and not just those from well-to-do families. The scheme is especially beneficial for girls and financially weaker sections as it provides loans at low interest rates. The scheme helps in empowering and enabling the youth to work towards a better future for themselves and the state.
If you are a student planning pursuing higher education but are sceptical regarding the expenses, then the best solution is the Bihar Student Credit Card Scheme. Apply today and harness the opportunity to fulfil your career aspirations.
FAQS – Bihar Student Credit Card Scheme
What is a Student credit card in Bihar?
A Student credit card in Bihar is an educational loan provided by the Bihar Government to students after Class 12. The students can avail of loans up to ₹4 lakh at minimal interest.
How to apply for the Bihar Student Credit Card?
Steps to follow are Go to the official website https://www.7nishchay-yuvaupmission.bihar.gov.in, register, fill the form, upload the required documents, and get them verified at your district DRCC centre.
What is the interest rate on the Bihar student credit card?
There is no interest for girls, transgenders, and disabled students. Interest in other male students is capped at 1%.
Is the loan provided only for technical courses?
No, in addition to technical courses, the loan covers general graduation courses, professional and vocational courses approved by the government and other educational bodies.
Can I apply if I study in another state?
Yes, but the institution needs to be recognised and approved by UGC/ AICTE/ State Government. Also, you need to be a Bihar resident.