Student Credit Card Scheme in Bihar | How to Apply

 

Student Credit Card Scheme in Bihar | How to Apply

The state government of Bihar going to implement the Student credit card scheme from the 2nd of October. It’s a specially designed scheme for students to pursue higher studies. The scheme has been approved by the Bihar CM, and the State is all set to launch this scheme on the occasion of Gandhi Jayanti.

Name of Scheme Student Credit Card Scheme
State Bihar
Luanched By Nitish Kumar
Launch date 2nd Oct 2016
Purpose Education
Eligibility 12th pass Students
# of beneficiary 5 Lakhs
Loan Amount 4 Lakhs

Objective of the scheme

The main objective of the scheme is to provide students of Bihar with enough financial support so that they can pursue their higher studies. There are many students in Bihar who do not continue their studies after school, due to the lack of money. This scheme would encourage them to carry on with their studies. Though there are other education loans available students do not avail it due to the interest rate factor, but this scheme provides an interest free loan. The government of Bihar is aiming at proving the students credit cards to around 5 lakh students in Bihar.

Student Credit Card Scheme in Bihar

Features of the scheme

  • Under this scheme the government of Bihar will be providing a loan of up to Rs.4 lakhs to the students who have completed their class 12 exams, without any interest.
  • The courses for which the students may take loan under this scheme could include any kind of higher studies including engineering, CA, CFA, Management, Medical, Education, etc. But then the course has to be from an authorized and reputed institution or college.
  • As of now no specific eligibility criteria has been mentioned by the government to avail this scheme. It has been said that all the students of Bihar who are interested in continuing their studies in professional courses at a reputed institution, would be given the credit card.
  • While giving the loan, the reimbursing capacity of the student and the patterns will be taken into account. Depending on this the loan will be provided.
  • The forms for the scheme will be available online and offline. A card will be issued under this scheme that will let to draw the loan money when needed.
  • For the collection of the application form of this scheme different counters will be set in the state. Once the forms are submitted by the candidates, it will be checked and verified thoroughly before the card is given to the students.
  • It has also been said that the applicants have to provide their Aadhaar card number on the application forms. And in order to make this loan system more transparent, the applicant’s data will be digitized.
  • The students will be able to use the loan amount for buying books, paying monthly or semester fees, buying computers, or buying any other educational equipment.
  • It has been mentioned that the students who will take the loan will have to start paying back the loan amount after 4 years from the date they have taken the loan.

The Students Credit Card scheme would be an essential part of the ‘seven resolves’ adopted by the Chief Minister. The ‘seven resolve’ is a strategy that has been taken up by this grand secular alliance government and under this they will be seeking for the development of the state, like never before.

In the cabinet meeting headed by the CM Nitish, the Student Credit Card scheme was approved and along with that 17 other proposals which are beneficial for people of Bihar. Expects of the state, express their view as it will be good opportunity for talented Bihar youths to make use of this scheme to complete their higher studies.

Process to Apply for Student Credit Card Bihar Online

You can apply for this scheme only Online. A portal will be provided where you can fill the form. Each student should have a valid email id and a working phone number. An OTP will be sent on this phone number. Make sure you have your aadhar card ready at the time of applying. After you have filled this form a pdf would be mailed to you. You will have to show this pdf at the bank to get the loan.

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