The Bihar Student Credit Card Scheme under the MNSSBY (Mukhyamantri Nishchay Swayam Sahayata Bhatta Yojana) is a transformative initiative designed to provide financial assistance to students pursuing higher education. Introduced by the Government of Bihar, this scheme addresses financial constraints faced by students, empowering them to access quality education without monetary barriers.
What is the Bihar Student Credit Card Scheme?
The Bihar Student Credit Card Scheme, also known as Student Credit Card Yojana, is an innovative financial aid program launched to support students aspiring to pursue higher education. The scheme enables eligible students to access loans up to ₹4 lakh with minimal interest rates, covering tuition fees, study materials, and other educational expenses.
Eligibility Criteria for Bihar Student Credit Card Scheme
To avail of the student credit card scheme, students must fulfill the following eligibility criteria:
- Residency: The applicant must be a permanent resident of Bihar.
- Educational Qualification: The student must have passed the 12th grade or equivalent from a recognized board.
- Age Limit: Applicants should be between 18 and 25 years old. Special cases may have relaxed age limits.
- Admission Proof: Admission into a recognized institution for higher education is mandatory.
- Purpose of Loan: The loan should strictly be used for academic purposes, including tuition, books, and accommodation.
Benefits of the Student Credit Card Yojana
The Bihar Student Credit Card Yojana offers numerous advantages:
- Financial Empowerment: Students can overcome financial constraints and pursue their dreams without worrying about educational expenses.
- Low-Interest Rates: The scheme provides loans with highly subsidized interest rates, reducing repayment burdens.
- Inclusive Coverage: The credit card scheme supports a wide range of courses, including technical, medical, and vocational studies.
- Easy Repayment Options: Students have flexible repayment terms after completing their education.
How to Apply for the Bihar Student Credit Card Scheme
To apply online for the scheme, follow these steps:
Step 1: Visit the Official Website
Go to the official MNSSBY portal (https://www.7nishchay-yuvaupmission.bihar.gov.in).
Step 2: Register Yourself
- Click on “New Registration.”
- Fill in personal details like name, email, and phone number.
- Create a password and submit the form.
Step 3: Log In
Log in using your credentials and navigate to the Student Credit Card section.
Step 4: Fill Out the Application Form
Provide:
- Personal details
- Academic records
- Admission proof
- Course details
Step 5: Upload Documents
Upload scanned copies of required documents:
- Aadhaar card
- 12th-grade certificate
- Admission letter
- Bank account details
Step 6: Submit the Form
Review the details and click on “Submit.” Note the application reference number for future use.
Documents Required for Student Credit Card Scheme
Applicants need to furnish the following documents:
- Identity Proof: Aadhaar card, voter ID, or PAN card
- Address Proof: Ration card, electricity bill, or domicile certificate
- Academic Certificates: Mark sheets and certificates of the 10th and 12th grades
- Bank Account Details: Passbook or bank statement
- Admission Proof: Confirmation letter from the institution
- Photographs: Recent passport-sized photos
Courses Covered Under the Scheme
The student credit cards cater to a wide range of academic programs, such as:
- Undergraduate Courses: Arts, Science, Commerce
- Technical Education: Engineering, IT, Computer Applications
- Medical Studies: MBBS, BDS, Nursing
- Vocational Training: Skill-based programs recognized by the Government of India
How Does the Bihar Student Credit Card Work?
Once approved, students receive a student credit card, which works as a financial tool to cover educational costs. The credit limit is directly linked to the course fee and associated expenses. Students can utilize the card for:
- Tuition payments
- Purchase of books and study materials
- Examination and laboratory fees
- Accommodation and transport expenses
Repayment Guidelines
Repaying the student credit card loan is simple and student-friendly:
- Grace Period: Students enjoy a grace period of one year after completing their course or six months after securing a job.
- Low EMIs: The repayment is spread across manageable EMIs.
- Subsidized Interest: Interest rates are subsidized for timely repayments, with penalties applied for delays.
FAQs About the Student Credit Card Yojana
Who can apply for the scheme?
Any student who is a permanent resident of Bihar, has completed 12th grade, and has secured admission in higher education institutions can apply.
Can I apply offline?
Yes, you can apply offline by visiting the nearest District Registration and Counselling Center (DRCC).
Is there an age limit?
The primary age limit is 18-25 years. Exceptions may apply based on the course and circumstances.
Conclusion
The Bihar Student Credit Card Scheme is a game-changer for aspiring students in Bihar, ensuring that no dream is left unfulfilled due to financial constraints. By providing access to affordable loans for higher education, the scheme empowers the youth to build a brighter future.
