Bihar Student Credit Card: A Financial Game-Changer!

With the aim of providing financial support to the youth in pursuing higher education, the Government of Bihar introduced the Bihar Student Credit Card scheme. This initiative has been a game-changer in the realm of education financing for aspiring students in the state of Bihar. The scheme not only focuses on providing financial assistance for higher education but also emphasizes skill development training and career guidance, thus empowering the youth to shape their future. In this comprehensive guide, we will delve into the details of the Bihar Student Credit Card scheme, its benefits, eligibility criteria, application process, and frequently asked questions.

Introduction to Bihar Student Credit Card Scheme

The Bihar Student Credit Card scheme was launched in order to provide financial assistance to deserving students who wish to pursue higher education in India or abroad. Under this scheme, students are provided with a credit limit of up to Rs. 4 lakh which covers the cost of education including tuition fees, examination fees, hostel fees, books, equipment, and other expenses related to the course. The loan provided under this scheme comes with a moratorium period which extends up to one year after the completion of the course or six months after securing a job, whichever is earlier.

Benefits of Bihar Student Credit Card Scheme

  • Easy access to education loans: The scheme facilitates easy access to education loans for students who may not have the financial means to fund their education.

  • Zero collateral: One of the major advantages of this scheme is that it does not require any collateral or third-party guarantee. This makes it more accessible to students from economically weaker sections.

  • Flexible repayment terms: The scheme offers flexible repayment terms, allowing students to repay the loan over a period of 15 years after the moratorium period.

  • Scheme for skill development: In addition to financial assistance for education, the scheme also provides funds for skill development training, career guidance, and soft skills training.

  • Low-interest rates: The scheme offers education loans at competitive interest rates, making it an affordable option for students.

Eligibility Criteria for Bihar Student Credit Card Scheme

To avail the benefits of the Bihar Student Credit Card scheme, applicants need to fulfill the following eligibility criteria:

  1. Resident of Bihar: The applicant must be a permanent resident of Bihar.

  2. Age Limit: The minimum age requirement is 18 years and the maximum age limit is 25 years.

  3. Admission in Recognized Institution: The student should have secured admission in a recognized educational institution in India or abroad.

  4. Family Income Criteria: The annual income of the applicant’s family should not exceed a certain limit, as specified by the government.

  5. Course Eligibility: The student should be enrolled in a professional, technical, or other higher education courses.

Application Process for Bihar Student Credit Card Scheme

The application process for the Bihar Student Credit Card scheme is simple and student-friendly. Here are the steps to apply for the scheme:

  1. Online Registration: Applicants need to visit the official website of the Bihar Student Credit Card scheme and fill out the online registration form.

  2. Document Verification: After successful registration, the applicant needs to submit the required documents for verification. These documents include educational certificates, admission proof, identity proof, and income certificate.

  3. Approval Process: Once the documents are verified, the application undergoes an approval process. If approved, the student will receive a Bihar Student Credit Card with the sanctioned loan amount.

  4. Loan Disbursement: The sanctioned loan amount is disbursed directly to the educational institution to cover the student’s expenses.

  5. Repayment: The repayment of the loan starts after the moratorium period as per the terms and conditions of the scheme.

Frequently Asked Questions (FAQs) about Bihar Student Credit Card Scheme

1. Can the loan amount be used for purposes other than education expenses?

No, the loan provided under the Bihar Student Credit Card scheme is specifically meant for educational purposes only.

2. Is there any processing fee for availing the loan under this scheme?

Yes, there is a nominal processing fee charged for availing the loan under this scheme.

3. What is the maximum loan amount that can be sanctioned under the Bihar Student Credit Card scheme?

The maximum loan amount that can be sanctioned under this scheme is Rs. 4 lakh.

4. Are there any penalties for prepayment of the loan amount?

No, there are no penalties for prepayment of the loan amount under this scheme.

5. Can students from any stream or course apply for the Bihar Student Credit Card scheme?

Yes, students from all streams and courses including professional, technical, and other higher education courses are eligible to apply for this scheme.

In conclusion, the Bihar Student Credit Card scheme has emerged as a beacon of hope for countless students who aspire to pursue higher education but face financial constraints. By providing easy access to education loans, skill development training, and career guidance, the scheme not only empowers the youth of Bihar but also paves the way for a brighter future. If you are a student in Bihar seeking financial assistance for your education, do consider exploring the benefits of the Bihar Student Credit Card scheme and take a step closer towards fulfilling your academic dreams.


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