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By Anand Nathani
October 3, 2023
9:00 am

Top 9 Steps To Apply For Bihar Student Credit Card Yojana

Introduction

The Bihar Student Credit Card Yojana was launched in the year 2016 to provide financial aid at concessional rates of Interest.to students residing in Bihar only for pursuing higher education. Every Year, the Bihar Government updates this scheme for the benefit of students.

Here are the Top 9 Steps to Apply for Bihar Student Credit Card Yojana

What is Bihar Student Credit Card Yojana ? Bihar Student Credit Card Yojana Kya Hai ?

On the 2nd of October 2016, on the occasion of Gandhi Jayanti, the Government of Bihar launched The Bihar Student Credit Card Yojana under Mukhyamanti Nischay Swayam Sahayata Bhatta Yojana (MNSSBY). This credit card scheme is applicable for students residing in Bihar only . The scheme provides financial aid to pursue higher education courses by offering loans at concessional interest rates.

Bihar Student Credit Card Yojana Salient Features

The Salient Features of Bihar Student Credit Card are as follows :

Sanctioned Loan Amount: Till 4 lakhs
Nominal Rate of Interest @1% per annum for Girls/Persons with disabilities and Transgenders
Nominal Rate of Interest @4% per annum for Boy students
No Collateral Security or Third Party Guarantee
Loans available for technical, professional and vocational courses and general courses

Bihar Student Credit Card Yojana Loan Repayment

Loan repayment terms of the BSCC yojana are:

Exemption from paying interest on the loan during a moratorium period of one year after completing the course or for a duration of 6 months after securing employment, whichever comes first.
No Prepayment penalties or charges if the loan is repaid before the stipulated due date

Bihar Student Credit Card Yojana Eligibility

The following students are eligible for the scheme :

Students should be 25 years of age or more
Students /Parents/Legal guardian should be a resident/domiciled in the state of Bihar
Completed Class XII from a recognised Board in Bihar/CBSE
Proof of Enrolment in higher studies in educational institutions located in Bihar or outside states in India

Bihar Student Credit Card Yojana Application Documents

The following documents are required for application:

Aadhaar cards of the applicant and co-applicant
Two passport-size photographs of the applicant and co-applicant, such as parents/spouse/guardian
Mark sheet and certificate of Class X and Class XII
Certificates related to scholarship and free education (if applicable)
Institute enrollment certificate in which the course and its duration are mentioned
Course brochure for the institution located outside Bihar
Photocopy of the applicant’s bank passbook, in which the name of the branch, account number, and IFSC code are mentioned
Course fee details received from the institution
Photocopy of a residential certificate or the first page of a bank passbook/electricity bill/telephone bill/ passport/driver’s license/voter ID card
Address of Applicant should be clearly mentioned in all the certificates
Bank statement of the last 6 months
Income tax return certificate for the last two years
Income certificate of the last year/Form 16
Tax receipt

Bihar Student Credit Card Yojana Expenses Coverage

The scheme covers the following expenses :

Academic costs such as tuition fees, exam fees, etc
Non academic costs such as hostel fees, food expenses, educational material, Computers/Laptops, etc

Bihar Student Credit Card Yojana Login Process For Online Application

Students can apply online by logging on to the official site of this scheme. The URL of the portal is https://www.7nishchay-yuvaupmission.bihar.gov.in.

A student needs to follow the following steps to apply online:

When the portal opens, locate and select the New Application Registration option.
Fill the boxes with relevant information for registration .
Click send OTP and it will send a one-time password to the registered mobile number or email ID
Generate a unique ID and password and complete the registration process.
Click Home Page.
login to the website using the accurate credentials received via SMS/email.
Set a new strong password and make a fresh login with your new password.
Enter the details asked in the fields and click Submit.
From the Select Scheme drop-down list, select Bihar Student Credit Card option
Now enter personal information of self and the co-applicant
Once all required details are provided, Click the Submit button.
Acknowledgement will be received at the registered email address.

Students can also log on to the student portal https://www.bsefcl.bihar.gov.in to view details of all data entered for loan application.

For any Technical support or tracking of loan applications, students can contact the toll free Bihar student credit card helpline number at 1800-3456-444

Bihar Student Credit Card Yojana Course List

Students applying under Bihar credit card yojana can get loans against credit card for studying 129 courses as on date.These courses include undergraduate and postgraduate streams in leather, fashion and textile design. Four-year courses of Bachelor of Agriculture, Master of Agriculture, B.Ed., MBA in Agri Business and BBM (four-year course), M.Sc. A. Mass Communication, MSc Statics and Computing. Vocational Courses are also being covered in all subjects related to Medical Electrophysiology, Science Technology, ITI and Skills under the scheme

To get a list of approved courses ,Students need to Click on https://www.7nishchay-yuvaupmission.bihar.gov.in

Bihar Student Credit Card Yojana College List

There are more than 2700 colleges approved under the Bihar Student Credit Card Yojana. Out of these 869 colleges are in Bihar, 225 colleges are in New Delhi and 121 colleges are in Uttar-Pradesh which have NAAC, NBA and NIRF rankings.

To get a list of approved colleges ,Students need to follow the steps as illustrated below :

Click on https://www.7nishchay-yuvaupmission.bihar.gov.in
Click on the option “Approved List of College for BSCC ”
A list of colleges will appear on a new page
Click on “Select district” and check the college for details

Case Study

Under the Bihar Student Credit Card Yojana ,

Rs 756.49 crores have been sanctioned and disbursed to 36167 applicants as loans in the Financial Year 2021-22
Rs 628.80 crores have been sanctioned and disbursed to 36924 students as loans during the period April 2022 to September 2022
A target has been set to disburse loans to one lakh students in Financial year 2022-23 and one lakh fifty thousand students in the current Financial year 2023-24