Bihar Government had launched the Student Credit Card Scheme in the state on 2 October 2016. In Bihar SCC Scheme, the state government provides education loans of upto Rs. 4 Lakh to 12th pass students. Students can now apply by filling Bihar Student Credit Card Scheme online application / registration form 2021 at the official website. Also check the complete process flow, user manual, documents required and list of approved colleges for BSCC Scheme 2021.
Bihar govt. had also decided to setup an Education Finance Corporation for loan disbursement to students under BSCC Scheme. Despite being given proper guarantee of loan amount of students, banks were delaying the loan distribution. So, this new edu fin corp is disbursing the loans upto Rs. 4 lakh to students instead of banks. Students can now apply online as well as Download Application Form PDF of Bihar Student Credit Card Scheme to avail scheme benefits.
Bihar Student Credit Card Scheme 2021 Apply at Portal
The applications for the Bihar Student Credit Card Scheme are being invited online through the website atand mobile app. The state government has launched the online portal (Mobile App soon) for the student credit card scheme online applications. Here candidates can click at “How to Apply” link and then click at the “Bihar Student Credit Card Scheme blank form”.
Bihar Student Credit Card Scheme Application Form PDF Download
The sample application form of student credit card scheme is now available to download on the official website of Bihar Government.
Details to be Entered in Bihar Student Credit Card Scheme Registration Form PDF
In the downloaded Bihar Student Credit Card Scheme registration form in PDF format, applicants will have to enter the complete details which are given below:-
- Personal information of the applicant
- Financial/income information of the co-applicant
- Employment details of the co-applicant
- Details of the security offered (Not necessary for loans up to 4 Lakh)
- Details of the course/study
- Loan request section
- Details of the financial worth of the co-applicant
- Additional details of the bank account of the co-applicant
- Details of existing loans (from any bank)
- Proposed/preferred repayment and payment of the interest
- General details
- List of documents required
Students can check the complete application process flow and how to apply online for Bihar Student Credit Card Scheme in the next section.
Steps of How to Apply Online for Student Credit Card Scheme 2021
The 12th pass students who are eligible for the scheme can apply either going to the Online portal or the mobile app. Below are the steps to apply online for the scheme
- Students will have to fill the basic details on the mobile app or online portal.
- Students will receive an One Time Password on their mobile number and e-mail ID.
- After entering the received OTP in the mobile app or the portal, a new form will open where the students will have to submit their personal details. After submitting this, three options will open.
- Select Student Credit Card from the three options and a new application form will open.
- Fill the required details in the application form and submit it using the submit button.
- After submitting the application form, the students will be given a unique identification number. This unique ID number will be sent on their mobile number and e-mail ID.
- Students will also receive the PDF copy of the submitted application form and the details of documents required on their e-mail ID. The application form and the documents will be required at the counter.
- To check the complete Bihar Student Credit Card Scheme Process Flow, click at the link https://www.7nishchay-yuvaupmission.bihar.gov.in/resources/Process_Flow_for_BSCC.pdf
The students will be informed on their mobile phones and e-mail ID about the date of visit to the counter. The portal for online application of student credit card scheme is https://www.7nishchay-yuvaupmission.bihar.gov.in/.
Eligibility of Students for Bihar SCC Scheme
The students in the state pursuing/willing to pursue higher studies in professional courses, computer certificate courses from reputed institutions will be eligible for loan. Courses like CA, CFA, ICWA & so on and courses from IIM, IISC and IIT’s will come under the scheme.
List of Documents Required for Student Credit Card Scheme
Following are the basic documents required to apply for the student credit card scheme:-
- Mark sheet & Certificate of Class X, XII & last qualifying examination of the student
- Copies of letter conferring scholarship, free ship, etc.(if applicable)
- Documents evidencing duration of course of commencement thereof, viz Prospectus or Certificate from
the competent authority of the Institution(if the University is from Bihar, then its not needed)
- Proof of admission to the course
- Schedule of expenses for the course
- Copy of the PAN Card of Student & Guardian (both) before disbursement of Education Loan.
- Two copies of Passport size photograph of the student/ parent /guardian/guarantor
- Salary certificate & form 16 of previous year (In case of employed)
- I.T. Returns for the last 2 years (if I.T. Assessed) duly accepted by the ITO
- Statement of bank account for the last six months of the guardian/parent.
- Proof of residence (Identity card/Passport/voter Identification card/Driving license)
- Tax paid receipts etc. (Advance IT/Property Tax/Municipal Tax. etc.)
After collecting all the documents, students will have to visit the counters on the appointed date. Check complete details in the Bihar Student Credit Card Scheme User Manual which can be accessed using the link – https://www.7nishchay-yuvaupmission.bihar.gov.in/resources/User_Manual_for_BSCCpdf1.pdf
There will be a single application form format for student credit card scheme which will be applicable at all banks.
Bihar Student Credit Card (SCC) Scheme Courses List 2021
All the students can now check the Bihar Student Credit Card Scheme Courses List 2021 through the link – https://www.7nishchay-yuvaupmission.bihar.gov.in/resources/Course%20List_dept.pdf
The trade wise list of courses is now available for the students for checking to avail benefits of Bihar SCC Scheme 2021.
Bihar Student Credit Card Loan Approval Process
The government officials will examine and verify all the details and documents submitted by the students including the admission related details from the respective educational institutions. This will be done within 15 days after receiving the documents from the students.
After verification, details/documents will be shared with the banks which will then approve or disapprove the loan within 15 days. The loan approval/disapproval with reason information will be shared by the banks to the applicants by SMS.
In case of approval, the applicants will be required to visit the bank branch to complete the documentation formalities. After which the banks will issue credit cards to the students which can be used to pay the fee and expenses of higher education.
Approved List of College for BSCC Scheme
Also check the approved list of colleges for BSCC Scheme through the link given here – https://www.7nishchay-yuvaupmission.bihar.gov.in/listofcollegedetail
The list of approved colleges for Bihar Student Credit Card Scheme (BSCC) 2021 will appear as shown below:-
Here candidates can select the “Institute State” and “Institute District” and then click at the “Search” button to check college name in the list of approved colleges in BSCC Scheme.
Check Application Status of Bihar Student Credit Card Scheme
Bihar Student Credit Card scheme is an ambitious scheme of state Government launched recently. Under the scheme, state government is providing education loan of up to Rs. 4 Lakh to 12th Pass students at 0% interest rate. Launched on 2nd October, the student credit card scheme ensures financial assistance to the students willing to pursue higher education. The state government has launched an online portal for the students to apply for the scheme. The interested students who have secured admission in recognized institutions can apply for the scheme.
Student Credit card Scheme Application Status
The online application status of student credit card scheme can also be checked after the application is complete. To view the application status, the applicants need to visit the following link and enter their registration number or Aadhar number and date of birth as given in the following screen.
Link to Check Status of Bihar Student Credit card Scheme is given here – https://www.7nishchay-yuvaupmission.bihar.gov.in/addapplicationStatus
The page to check the Bihar SSC Scheme Application status will appear as shown below:-
If you are eligible and have not applied for the scheme yet, read the complete online application procedure of student credit card scheme. The interested candidates can also download the format of application form of Bihar SSC.
Edu Fin Corp to Provide Loans to Students in SCC Scheme
Bihar govt. had set up an Education Finance Corporation to provide loans under Bihar Student Credit Card (SCC) Scheme. Subsequently, Edu Fin Corp had started providing loans upto Rs. 4 lakh from the fiscal year 2019. Accordingly, govt. had provided this loan amount to students to pursue higher studies in educational institutions. The state govt. had launched this student credit card scheme in Bihar in order to provide high quality education to a large number of youths. Subsequently, setting up of Education Finance Corporation will help in successful implementation of this scheme without the involvement of banks.
Bihar SCC Scheme is a major step under 7 nischay yuva mission which focuses on increasing the gross enrollment ratio. Interested candidates can apply online for student credit card bihar at 7nishchay-yuvaupmission.bihar.gov.in
Need For Setting up Education Finance Corporation in Bihar SCC Scheme
Existing Gross Enrollment Ratio (GER) for higher studies is 13.9% in Bihar. The state govt. wishes to raise GER to at-least 30%. Under SCC Scheme, bihar govt. provides a guarantee of Rs. 160 for every Rs. 100 borrowed by a student. Still the banks were delaying disbursement of funds to the eligible beneficiaries and their response also was not along the expected lines.
So, the state govt. had decided to set up an Education Finance Corporation to tackle and resolve this issue. Accordingly, the state govt. had been implementing this SCC Scheme on their own without the involvement of banks.
Bihar Student Credit Card Scheme (SCCS) Gets Cabinet Approval
The much anticipated and ambitious Student Credit Card Scheme (SCCS) of Bihar Government had finally got the cabinet approval on 14th September. The state government under the scheme will facilitate education loans to the students for higher studies. To be run by the education department, Student Credit Card Scheme (SCCS) will facilitate the education loan to the 12th passout students willing to pursue higher education. The state government will facilitate education loans of upto Rs. 4 lakh from the nationalized banks by acting as guarantor.
Irrespective of the financial background, 12th Pass students who secures admission in any of the recognized institutes for higher education will be eligible to avail the loan. Under the scheme, the state government has set a target of disbursing education loans to 5 Crore students within 2016-17.
Under the scheme, the students need not to directly approach the banks for loans, instead, the district registration centers will be accepting the applications from students. Once the physical verification of the documents is done by the district centers, the applications will be sent to the banks. The banks will have 15 days to approve the loan applications.
After the loan application is approved, the banks will specify another date within next 15 days to sign the loan agreement document and complete other formalities. The applicant students will be informed via e-mail and text messages about the important dates and status of the loan.
Education Loan Waiver For Students in Student Credit Card (SCC) Scheme
Bihar govt. had started Education Loan Waiver for Students who have taken education loans from banks under Student Credit Card (SCC) Scheme. Under this Loan Waiver for Students, govt. had waived off student loans in case the students fails to get a job after completing their professional courses. Moreover, if the students get employment, then he / she has to repay the loan amount in 82 easy installments. Under Bihar SCC scheme, class 12th pass out students can avail loans to pursue further technical or general education and to build their careers. Previously on 7 March 2018, the state govt. has formed Bihar State Education Finance Corporation (BSEFC) for interest free loan disbursement of upto Rs. 4 lakh to students.
The state govt. is consistently laying emphasis on the importance of education and to increase awareness on it. The national Gross Enrollment Ratio (GRE) is 24% whereas enrollment ratio in Bihar is 13% which is quite low. But the state govt. wants to take it to 30% and will later increase it to 35% and 40%. CM mentioned that the govt. must take concrete steps towards women empowerment through education to girls.
Under Bihar SCC scheme, all the class 12th pass students can get loans for further education whether it is technical or general. Moreover, all the Matric (10th) pass students can also avail of the facility for financing their polytechnic studies. The education loan of upto Rs. 4 Lakh under the scheme will be provided without any interest. The loan can be utilized by the eligible students to pay the institutional fee, buy books, purchase computers, equipment and other things. In addition to this, it is important to note that the interest rate is just 1% for differently-abled, transgender and female students.
In the previous 10 years, the total number of girls who have been enrolled in high schools has crossed 9 lakh from previous 1 lakh. In March 2018, Bihar State Education Finance Corporation (BSEFC) came into existence to easily provide loans of up to Rs. 4 lakh under SCC scheme. This would help students who want to continue their education beyond Intermediate (12th standard). This announcement had hit the public domain.
Quick Details about Bihar Student Credit Card (SCC) Scheme
|Name of Scheme||Student Credit Card Scheme|
|Objective||To provide interest free education loan to students willing to pursue higher studies in technical or professional streams.|
|Eligible Students||12th Pass students getting admission in any professional, technical education course or any recognized course through enterance or other admission process in any of the reputed organization across the country.|
|Eligible Courses||Any course in higher studies, professional or technical course from reputed institution. Engineering, CA, CFA, Management, Medical, Education, & other courses.|
|Interest Rate on Loan||Nill for a loan of up to Rs. 4 Lakh. 10% for the loan above Rs. 4 lakh, upto maximum 7.5 Lakh.|
|Nature of Loan||Loan can be availed to pay course fee, buy books, computers, educational equipment and so forth.|
|Security for Loan||Co-commitment by the student and guardian(s) including third party guarantee and colateral security. State government would provide security for 25% of the loan amount, rest by the student/guardian.|
|Upfront charges||0.5% of the loan amount|
|Re-payment||The students will need start the repayment of the loan amount after a period of 4 years.|
|Target||The state government targets to provide Student Credit Cards to 5 Lakh students in Bihar in the first phase of the scheme.|
|Launch Date||2nd October 2016|
For more details, all the applicants can directly visit the official website at https://www.7nishchay-yuvaupmission.bihar.gov.in/