Bihar Student Credit Card Scheme: Eligibility, Interest Rate, Application Form and Documents Required

The Bihar Government launched the Bihar Student Credit Card (BSCC) scheme to provide financial aid to students to complete their higher education. It helps resident students of Bihar to complete their studies by taking loans at low-interest rate.

Read on to know the BSCC scheme details, its eligibility, application process and documents required to apply.

Bihar Student Credit Card (BSCC) Scheme

Under the Bihar Student Credit Card (BSCC) scheme, students can get loans of up to Rs.4 lakhs at minimal interest rates. They can utilise the funding to finance technical or professional courses, such as BSc, BA, Engineering, Management, Law, MBBS, etc. The children in Bihar who are interested in higher studies but cannot pursue it because of family financial problems can complete their higher education by getting a loan at low-interest rates under BSCC scheme. 

Here is an overview of the Bihar Student Credit Card (BSCC) scheme:

Eligibility Criteria for BSCC Scheme

The following students are eligible under this scheme:

• They must be a resident of Bihar state.
• They should be below 25 years.
• They must have passed the 12th standard.
• They must complete the entire course. 
• They must be enrolled or selected for enrollment for higher education at a state or central recognised institution.
• They must be enrolled in any general courses of higher education or various professional or technical courses. Here is the full list of courses for which loans are given under the scheme.
• They must not be receiving any allowance, scholarship, student credit card, education loan or any kind of assistance.

Benefits of the BSCC Scheme

The eligible students will get the following benefits under the BSCC scheme:

• A maximum loan amount of Rs.4 lakh.
• Avail loan for polytechnic, technical and general courses.
• Monetary assistance to buy books and laptops or pay the fees.
• Repayment of the loan starts once the course has been completed and students have secured a job.
• The interest rate of the loan is 1% for Divyang, transgender, and girl students.
• The recovery procedures are flexible since the loan is government-owned. In certain cases, the government may also waive the balance.

Application Process of BSCC Scheme

• Visit the 7nishchay Bihar website.
• Click the ‘New Applicant Registration’ button.
• Fill out the details, such as name, email ID, mobile number, Aadhaar number, and OTP and click the ‘Submit’ button.
• A successful registration message will be displayed, and the applicants will receive the username and password by email and SMS.
• Visit the 7nishchay Bihar website and log in using the username and password. 
• Fill out the details on the ‘Personal Information Page’ and click the ‘Submit’ button.
• Selects the ‘Bihar Student Credit Card Scheme’ option from the drop-down list and click the ‘Apply’ button.
• Fill in the details on the BSCC form and submit it.
• A confirmation message and the acknowledgement number will be displayed. Download the PDF of the application form.
• The respective District Registration and Counseling Center (DRCC) will schedule an appointment and send an email and SMS informing the applicant about the date of the visit to the DRCC.
• The applicant should visit the DRCC with self-attested documents and submit them to the Multi-Purpose Assistant (MPA) for verification. 
• After verification by the concerned authorities and loan sanction by the bank, the DRCC will send an SMS and email to the applicant informing the date the applicant should visit the DRCC to collect the ‘Student Credit Card’ and sanction letter of the loan.
• The applicant should visit the bank to complete the documentation formalities after collecting the ‘Student Credit Card’ and the bank’s sanction letter from the DRCC.
• The applicant will get the loan disbursement from the bank, and bank officials will inform the same to the DRCC. 

The applicants can also track their application status by logging into the 7nishchay Bihar website.

Documents Required for BSCC Scheme

Documents are not required to be uploaded while filling the form online. However, the below documents must be submitted to the DRCC to get the loan:

• Filled common application form
• Aadhaar card 
• Xth and XIIth mark sheet and certificate
• Copies of the letter conferring scholarship (If available)
• Bank passbook containing the branch name, account number and IFSC code
• Proof of enrollment with course duration
• Statement of course fees
• Two passport size photographs 
• Proof of residence (Residence certificate, Passport, telephone bill, driving license or Voter ID)

The Bihar Student Credit Card (BSCC) scheme provides education loans to students to pursue their higher studies. Students who have passed 12th standard and have enrolled in higher education, technical or professional courses can avail a loan of up to Rs.4 lakh under this scheme.