Student Credit Card Information
The decision to implement the Bihar Student Credit Card Scheme was taken under the auspices of the state government's governance program 2015-20, aimed at providing financial assistance to economically disadvantaged students who are unable to pursue higher education due to financial reasons, as part of Bihar's 7 Resolves. However, due to the experiences encountered during the implementation of this scheme, the modified "Bihar Student Credit Card Scheme" is being launched, limiting the role of banks. Through this scheme, not only will there be an increase in the Gross Enrollment Ratio (GER) in higher education, but it will also play a significant role in enabling youth employment attainment.
Eligibility for the scheme:
Under the Bihar Student Credit Card Scheme, Bihar residents who completed 12th grade from Bihar or nearby states can get education loans via Bihar State Education Finance Corporation. They must enroll in recognized higher education institutions, covering various courses. Students from border districts and neighboring states are also eligible. Funds are disbursed for hostels or living expenses as per rates. Applicants must be under 25 (30 for postgrad). Discontinuation of studies halts loan disbursement until re-enrollment.
Application Process:
To benefit from the scheme, applicants must apply online through the portal or mobile app after receiving a One Time Password. Upon submission, they'll receive confirmation and a unique registration number. No hard copies are needed; instead, a PDF application will be generated. Applicants will be notified of their counseling center visit via email and SMS. At the center, they'll submit necessary documents and receive a token for entry. After signing the PDF, they'll bring originals and self-attested copies for verification.
Required Documents
To apply for a Bihar Student Credit Card, you typically need to provide proof of identity (such as Aadhar Card), proof of address (like utility bills), proof of age (birth certificate), proof of admission to an educational institution (admission letter or fee receipt), academic records (marksheets or certificates), income proof (if applicable), bank account details, passport size photographs, and any other documents as required by the issuing authority. It's essential to check the official website or contact relevant authorities for the latest requirements and application process details.
Loan Approval & Disbursal
The Bihar Student Credit Card scheme offers loans at a subsidized rate of interest, typically set at 4% simple interest for most applicants. However, there's a special provision where women and transgender individuals may avail a reduced rate of interest at 1%. Eligible students can access credit limits of up to Rs. 4 lakhs, disbursed directly to the educational institution or the student's bank account. The loan amount is based on the course fees, with additional provisions for expenses like books, equipment, and lodging. This streamlined disbursal process ensures swift access to financial assistance, promoting educational empowerment and socio-economic development in Bihar while providing equitable opportunities for all.
Apply For Counseiling
BSCC Loan FAQ
Some of the eligibility requirements for Bihar Student Credit are include, you must be a resident of Bihar; aged not more than 25 years or 30 for postgrad; must have completed and passed the 12th class; must have enrolled or been selected for a higher education course at a recognized educational institution.
GyanVilla is One-Stop Solution For Your Career. All Detailed Guidance About Your Higher Education.
Copyright © 2024 All Rights Reserved by GyanVilla