Bihar Student Credit Card Scheme was launched by the Chief Minister of the state Nitish Kumar on October 2, 2016, to provide loans for higher education to the students of the state. The Bihar government introduced the Student Credit Card Scheme for the higher education of all students in which up to 4,0000 (four lakhs) of students from poor families for polytechnic, diplomas courses or higher education from the bank Loan is available without interest.
The main objective of this scheme is to improve the literacy figures in Bihar as most of the students in Bihar drop out after 10th or 12th.
Interested students of the state who want to apply for higher education under this scheme can apply online by visiting the official website https://www.7nishchay-yuvaupmission.bihar.gov.in/
Benefits of Bihar Student Credit Card Scheme 2021
1. Under this scheme those who have passed their Intermediate / 12th standard from institutions recognized by the Government of Bihar. He wants to get higher education in higher education like graduation, BA, B.Sc, etc. The loan will be provided by the government as financial assistance up to 4 lakh rupees.
2. Under the Bihar Student Credit Card Scheme 2021, no interest will have to be paid for taking a student loan.
3. The scheme will benefit the students of the state who are originally from a poor background and eager to complete their higher education.
4. In this loan, the fees of educational institutions will be included along with the expenses related to eating and drinking materials.
5. Students of the state will get rid of financial constraints under this scheme and their standard of living will rise. Students can also apply online to take advantage of Bihar Credit Card Scheme.
6. Under this scheme, the state government offers 10 + 2 passes out students an education loan of up to Rs 4 lakh at a 0% interest rate.
Eligibility for Bihar Student Credit Card Scheme1. Applicant must be a permanent resident of the state of Bihar.
Bihar Student Credit Card for Age Limit
At the time of application, the student should not be more than 25 years of age. Matric pass student gets loan for polytechnic or diplomas course whereas The student of 12th pass gets a loan for higher education. The loan includes the cost of college fees, lodging, and course material.
Guarantee of the loan
Guarantee of the loan taken under the Student Credit Card Scheme, while applying for the loan, you get an option that the student will give the loan money himself or his co-applicant or both.
Online application has to be done on the portal, counseling centers are available in all the districts of Bihar
Students have to apply online on the portal for availing education loans under the Student Credit Card Scheme. District Registration cum Counseling Centers have been set up in all the districts to assist the students. A one-time password will be available on the student's email or mobile application. After entering the password on the portal, the wedge page will open on which complete information has to be given.
Documents required for Bihar Student Credit Card:
How to apply Bihar Student Credit Card Online application
1. Official website - For the scheme, it is mandatory for the applicant to fill the online application form, so that the official website https://www.7nishchay-yuvaupmission.bihar.gov.in will have to go where the student will have to create an account.
2. Home Page - After creating an account, a login has to be done, after which the Bihar Student Credit Card Form will open.
3. Basic Information - Then the applicant should fill in all the information asked in this form, such as - the name of the applicant, mobile number, e-mail ID, etc.
4. OTP - After this, the applicant should fill in the OTP generated on the mobile number.
5. Submit Button - After this, the applicant clicks on submit button.
6. Credit card options - Then select the student credit card option from the 3 options presented.
7. Application Form Page - Then the application form will open in front of the applicant, fill all the information asked in the form.
8. Submit Form - After this applicant click on submit button and submit the form.
9. Unique ID - Then the applicant will get a unit ID number which will be sent to their mobile number and email ID.
10. Important Documents - After this, the applicant will get the PDF copy of the form on the email ID and the details of the necessary documents which will be placed on the counter.
11. Hard Copy - Then they will be told on the email ID on which day they will have to go to the counter and complete the rest of the process.
Note: All the necessary information has to be filled and submitted. After successful application, applicants can reach the DRCC from 10 am to 6 pm on any working day and get their documents verified.
All applicants applying online under the scheme are required to get their original documents checked at the District Registration and Counseling Center to avail of the scheme. After scrutiny of documents and acceptance of officers/officials, the applicant will be able to take advantage of the scheme.
List of all the colleges under the Bihar Student Credit Card Scheme: Click here
Bihar Student Credit Card All Course List: Click here
Loan Payback process
After the end of the moratorium period, loans up to Rs 2 lakhs can be repaid in a maximum of 60 monthly installments and loans above 2 lakhs in a maximum of 84 monthly installments. A rebate of 0.25 percent interest rate will be given in the event of a refund before the maximum period fixed above.
In the event of non-employment or income from self-employment and other means in the aforesaid period, debt collection will be postponed, but for this, it will be mandatory to provide the affidavit to DRCC at the end of every June and December that the applicant Employed / not receiving income by self-employment or any other means.
Apart from the conditions mentioned above, if the applicant / co-applicant does not return the loan after the entire stipulated period, then action will be taken against them under the provisions of the PDR Act (or Public Demand Recovery Act).