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. Under this scheme, students can get loans of up to Rs.4 lakhs at minimal interest rates. They can utilise the funding to finance BSc, BA, BTech, or MBBS courses. 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. 

Eligibility Criteria for BSCC Scheme

The following students are eligible under this scheme:

• They must be a resident of Bihar state.
• They should be at least 25 years.
• They must have passed the 12th standard.
• They must get admission to a course at an authorised institute.
• They must complete the entire course.

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 ‘BSCC’ 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. 
• 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

• Filled common application form
• Aadhar card 
• Pan card 
• Xth and XIIth mark sheet and certificate
• Copies of the letter conferring scholarship (If available)
• Approved course structure
• Proof of admission
• Fee schedule
• Photographs 
• Previous year’s income certificate
• Previous two year’s income tax return
• Previous six months’ bank statement
• Proof of residence (Passport, ID, driving license, Voter ID)
• Tax receipt