Patna/New Delhi: The state government's 'Bihar Student Credit Card Scheme' (BSCC) is no less than a boon for lakhs of students of Bihar who are deprived of higher education after 12th due to financial constraints. Through this ambitious scheme, run under the Seven Nishchay program of Chief Minister Nitish Kumar, an education loan of up to a maximum of Rs 4 lakh is provided to the eligible students of the state to complete their further studies. The biggest relief is that after the historic decision of the state government, this loan has now been made completely interest-free (0% interest) for all categories of applicants. Along with this, to reduce the burden of installments on the students, the repayment period has also been extended, so that the students can concentrate completely on their career and studies without any mental or financial pressure.
The scope of Bihar Student Credit Card Scheme has been kept very wide, so that every student from ordinary graduate to professional and technical courses can get its benefit. Under this scheme, apart from general degree courses like BA, B.Sc, B.Com, loan can be taken for B.Tech, Polytechnic, MBBS, BCA, BBA, MBA, Law, Hotel Management and other recognized professional courses. The use of this amount of Rs 4 lakh is not limited only to depositing the college tuition fees, but students can also easily bear the expenses of hostel fees, examination fees, textbooks, stationery and purchasing laptops required for studies.
To avail the benefits of this scheme, it is mandatory for the applicant to be a permanent resident of Bihar state. The student must have passed 12th (Intermediate) or equivalent examination from a recognized board of Bihar or bordering state and his/her maximum age should not be more than 25 years on the date of application. Additionally, the student must be admitted to a college or university recognized by the relevant regulatory body of the Central or State Government (like AICTE, UGC, NAAC etc.). Talking about the rules of loan repayment, the installments start after one year of completion of studies or six months after getting a job (whichever is earlier). According to the revised rules of the government, now the maximum time given for repayment of loan up to Rs 2 lakh is 7 years (84 monthly installments) instead of 5 years and for loans above Rs 2 lakh, the maximum time given is 10 years (120 monthly installments) instead of 7 years.
Before applying, students should keep all their original documents and their scanned copies ready. These include Aadhar card and PAN card of the applicant and co-applicant (parent or guardian), 10th and 12th marksheet and certificate, Domicile Certificate of Bihar, latest income certificate of the family or Form-16, admission letter (admission proof) of the recognized institute, fee schedule and course structure issued by the institute, copy of bank passbook and two passport size photographs each of the applicant and parents.
Interested students can apply online from home by visiting the official portal of Bihar Government www.7nishchay-yuvaupmission.bihar.gov.in. Click on 'New Applicant Registration' on the home page of the portal and complete the registration through OTP by entering your name, mobile number, email ID and Aadhaar number. After registration, you will receive username and password on your mobile and email. Now login to the portal and change your password and after filling 'Personal Information' on the dashboard, select 'BSCC' (Bihar Student Credit Card) option from the drop-down menu. After this, fill the details of educational qualification, college and course, upload all the documents and finally submit the application. After online submission, the date of appearing at the District Registration and Counseling Center (DRCC) will be sent to your mobile through SMS or email, where the loan approval process will be completed after verification of the original documents. For any assistance, students can contact toll-free helpline number 1800-3456-444.