The Bihar Student Credit Card Yojna: Empowering Education in Bihar

Education is a vital aspect of any society's progress, and Bihar is no exception. In an attempt to provide accessible and affordable education to the students of Bihar, the government of Bihar launched the Bihar Student Credit Card Yojna in 2016. The scheme offers interest-free loans of up to Rs. 4 Lakh to Bihar students who wish to pursue higher education.

Introduction to the Bihar Student Credit Card Yojna

The Bihar Student Credit Card Yojna was launched on 2nd October 2016 by the Chief Minister of Bihar, Nitish Kumar. The scheme is a step towards the government's goal of making higher education accessible and affordable to all sections of society. It provides an interest-free loan of up to Rs. 4 Lakh to students who wish to pursue higher education after class 12th.

Eligibility Criteria for the Scheme
The Bihar Student Credit Card Yojna: Empowering Education in Bihar

The eligibility criteria for the Bihar Student Credit Card Yojna are as follows:

  • The student must be a permanent resident of Bihar.
  • The student should have passed class 12th from a recognized board.
  • The student should have secured admission to a recognized college or university.
  • The student's family income should not exceed Rs. 8 Lakh per annum.

Features and Benefits of the Scheme

The Bihar Student Credit Card Yojna has several features and benefits that make it an attractive option for students. Some of these are:


Interest-free loan: The scheme offers an interest-free loan of up to Rs. 4 Lakh to students who wish to pursue higher education.

Flexible repayment: The loan is to be repaid in 15 years, giving students enough time to complete their education and start earning.

No collateral: The loan is provided without any collateral, making it easy for students to avail of the scheme.

Wide range of courses: The loan can be availed for a wide range of courses, including engineering, medicine, law, management, etc.

How to Apply for the Scheme

Students who wish to apply for the Bihar Student Credit Card Yojna can follow these simple steps:

  • Visit the official website of the Bihar Student Credit Card Yojna.
  • Fill in the application form and submit it along with the required documents.
  • The application will be verified by the authorities, and if approved, the student will receive the loan amount.

Impact of the Scheme

The Bihar Student Credit Card Yojna has had a significant impact on the education scenario in Bihar. The scheme has enabled thousands of students to pursue higher education without worrying about the financial burden. It has also led to an increase in the enrollment rate in colleges and universities across the state.

What is the Bihar Student Credit Card Yojna?

The Bihar Student Credit Card Yojna is a scheme launched by the Bihar government to provide financial assistance to students who wish to pursue higher education. Under this scheme, students can avail of loans up to Rs. 4 lakhs at a very low-interest rate of 1% per annum. The loan can be repaid over a period of 15 years after the completion of the course.


II. Eligibility Criteria

To be eligible for the Bihar Student Credit Card Yojna, the applicant must:

  • Be a resident of Bihar
  • Have passed Class 12th or equivalent examination
  • Be enrolled in a recognized institute for pursuing higher studies
  • Have a co-applicant who is a permanent resident of Bihar and can guarantee the loan

III. Application Process

To apply for the Bihar Student Credit Card Yojna, the following documents are required:

  • Aadhaar Card
  • Class 10th and 12th mark sheets
  • Admission letter from a recognized institute
  • Income certificate of the co-applicant

The steps to apply for the scheme are:

  1. Visit the official website of the Bihar Student Credit Card Yojna.
  2. Click on the "Apply Now" button.
  3. Fill in the required details in the application form.


IV. Interest Rates and Repayment Options

The interest rates for the educational loan under the Bihar Student Credit Card Yojna are quite affordable, making it easier for students to repay the loan in the future. The loan can be repaid in easy installments over a period of 5-7 years after the completion of the course. The repayment period can be extended if required, subject to approval by the concerned authorities.



V. Benefits of the Bihar Student Credit Card Yojna

The Bihar Student Credit Card Yojna provides numerous benefits to the students of Bihar, some of which are listed below:

Financial Assistance: The scheme provides an educational loan of up to Rs. 4 lakh to students at an affordable interest rate, which can help them pursue higher education without facing financial constraints.

Empowerment of the Youth: By providing financial assistance to the students, the scheme aims to empower the youth of Bihar and enable them to achieve their dreams.

Better Education Facilities: With the help of the educational loan, students can avail of better education facilities and pursue their desired course from a recognized institute.

VI. Conclusion


The Bihar Student Credit Card Yojna is a great initiative by the Government of Bihar to provide financial assistance to students who wish to pursue higher education. The scheme has made it easier for students to avail of educational loans at an affordable interest rate, which can help them pursue their dreams without facing financial constraints. Overall, the scheme has the potential to make a significant impact on the education system of Bihar and the future of its youth.The scheme has had a positive impact on the education scenario in Bihar, and it is hoped that it will continue to do so in the years to come.


FAQs

What is the maximum loan amount that can be availed under the Bihar Student Credit Card Yojna?

The maximum loan amount that can be availed is Rs. 4 Lakh.

What is the repayment period for the loan?

The loan is to be repaid in 15 years.

Can the loan be availed for courses other than engineering and medicine?

Yes, the loan can be availed for a wide range of courses, including engineering, medicine, law, management, etc.

Is collateral required to avail of the loan?

No, the loan is provided without any collateral.

Is the Bihar Student Credit Card Yojna applicable only for students from economically weaker sections?

No, the scheme is applicable to all students who meet the eligibility criteria, irrespective of their economic background.

Can the loan amount be used for any purpose other than education?

No, the loan amount can only be used for educational purposes, such as paying fees, buying books, etc.

Is there any processing fee for availing the loan?

No, there is no processing fee for availing the loan.

What documents are required to apply for the scheme?

The documents required to apply for the scheme include Aadhaar card, residence proof, class 12th mark sheet, admission letter, and income certificate.

Can students who have already taken a loan from a bank avail of this scheme?

Yes, students who have already taken a loan from a bank can still apply for this scheme if they meet the eligibility criteria.

Is there any age limit for availing the loan?

No, there is no age limit for availing the loan. Any student who meets the eligibility criteria can apply for the scheme.


In today's world, education is the key to success. However, pursuing higher education can be a financial burden, especially for students from economically weaker sections. To address this issue, the Government of Bihar has launched the Bihar Student Credit Card Yojna.






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