Bihar Student Credit Card (BSCC) Scheme

The Bihar Government launched the Bihar Student Credit Card (BSCC) Scheme to help students complete their higher education by providing financial assistance. Under this scheme, students can avail of loans of up to ₹4 lakhs at low interest rates. The funds can be used to pursue courses like B.Sc, B.A, B.Tech, MBBS, or other recognized programs.

The Bihar Student Credit Card (BSCC) Scheme aims to support students in Bihar who cannot continue their education due to financial difficulties. Offering affordable loans ensures that every aspiring student gets the opportunity to achieve their academic goals without worrying about financial constraints.

Let us go through this webpage to understand more about the Bihar Student Credit Card Scheme.

Table of Contents:

• ⇾ Bihar Student Credit Card Scheme Details
• ⇾ Bihar Student Credit Card Eligibility
• ⇾ Bihar Student Credit Card Limit
• ⇾ Documents Required for Bihar Student Credit Card
• ⇾ Apply for Bihar Student Credit Card
• ⇾ Bihar Student Credit Card Loan Interest Rate
• ⇾ Bihar Student Credit Card Status
• ⇾ Bihar Student Credit Card App
• ⇾ Bihar Student Credit Card Application Form
• ⇾ Bihar Student Credit Card Loan Repayment Rules
• ⇾ Bihar Student Credit Card Grievance Redressal
• ⇾ Security & Insurance for Student Loan Amount
• ⇾ Frequently Asked Questions

Bihar Student Credit Card Scheme Details

Here’s an overview of the Bihar Student Credit Card Scheme:

1. Loan Amount: Up to ₹4 lakh for higher education expenses.
2. Interest Rates: 4% per annum; 1% for female, transgender, and disabled students.
3. Eligibility: Bihar residents, aged 18-25 (up to 30 for PG), completed Class 12, and enrolled in a recognized institution.
4. Repayment: Starts after course completion and employment.
5. Application: Apply online via the official portal, followed by document verification at DRCC.
6. Documents Needed: Aadhaar, PAN, educational certificates, admission proof, income certificate, and more.

Bihar Student Credit Card Eligibility

This eligibility ensures deserving students in Bihar can access financial support for higher education. The eligibility criteria for the Bihar Student Credit Card Scheme are:

1. Residency: Applicant must be a permanent resident of Bihar.
2. Educational Qualification:
• Must have completed Class 12 (or Class 10 for polytechnic courses).
3. Age Limit:
• 18 to 25 years for undergraduate courses.
• Up to 30 years for postgraduate courses.
4. Admission Requirement:
• Must be enrolled in a higher education institution recognized by the government.
5. Institution Type:
• The institution can be in Bihar or outside Bihar but must be approved by the government.

Bihar Student Credit Card Limit

Here is what you need to know about the BSCC limits / loan amount for the Bihar Student Credit Card:

Documents Required for Bihar Student Credit Card

These are the documents you need to apply for the Bihar Student Credit Card:

• Filled Common Application Form: Required for loan application.
• Aadhaar Card: Identity verification.
• PAN Card: Financial identification.
• Class 10 and 12 Mark Sheets/Certificates: Proof of educational qualification.
• Scholarship Letter (if available): Validates eligibility for financial aid.
• Approved Course Structure: Verifies program details.
• Proof of Admission: Confirms enrollment in a recognized institution.
• Fee Schedule: Validates tuition and other expenses.
• Photographs (Passport-Sized): For application records.
• Income Certificate (Previous Year): Verifies financial need.
• Income Tax Returns (Last Two Years): Assesses financial background.
• Bank Statement (Last Six Months): Checks financial transactions and stability.
• Proof of Residence: Confirms Bihar residency (e.g., passport, voter ID).
• Tax Receipt: Additional financial verification.

Apply for Bihar Student Credit Card

Here’s how you can apply for the Bihar Student Credit Card:

• Step 1:Visit the 7nishchay Bihar Portal

(https://www.7nishchay-yuvaupmission.bihar.gov.in/).

• Step 2:Click the ‘New Applicant Registration’ button.
• Step 3:Fill in the required details like name, email ID, mobile number, Aadhaar number, and OTP, then click ‘Submit’.
• Step 4:After successful registration, receive your username and password via email and SMS.
• Step 5:Log in to the portal using the username and password.
• Step 6:Fill out the ‘Personal Information Page’ and click ‘Submit’.
• Step 7:Select the ‘BSCC’ option from the drop-down menu and click ‘Apply’.
• Step 8:Fill in the BSCC form and submit it. A confirmation message and acknowledgment number will be displayed.
• Step 9:The District Registration and Counseling Center (DRCC) will schedule an appointment and inform you via email and SMS about the date of your visit.
• Step 10: Visit the DRCC on the scheduled date with self-attested documents and submit them for verification.
• Step 11:After verification and loan sanction, you will receive an email and SMS from the DRCC with the date to collect the Student Credit Card and sanction letter.
• Step 12:Visit the DRCC to collect the Student Credit Card and the bank’s sanction letter.
• Step 13:Go to the designated bank with the sanction letter to complete the documentation process.
• Step 14:After completing the formalities, the bank will disburse the loan and notify the DRCC.
• Step 15:Track your application status anytime on the 7nishchay Portal.

Bihar Student Credit Card Loan Interest Rate

The students need to know the interest rates on the Bihar Student Credit Card Loan

Bihar Student Credit Card Status

You can check your Bihar Student Credit Card status through the official website of the Bihar government’s Education Department or visit the nearest District Registration and Counselling Centre (DRCC).

Here's how to check your status online:

• Visit the Official Portal: Visit oficial website:

www.7nishchay-yuvaupmission.bihar.gov.in

• Login to Your Account: Use your registration number and password to log in.
• Check Application Status: Click on the ‘Application Status’ section to view your current status—whether it is pending, under review, or approved.

If there are delays or discrepancies, contact the DRCC or the helpline number for assistance. Ensure you keep your application ID handy for quick reference.

Bihar Student Credit Card App

The Bihar Student Credit Card App offers an easy way for students to apply for and track their credit card application. With a user-friendly interface, the app allows students to submit applications, check their application status, and receive real-time updates. Key features include an easy application process, instant notifications, and direct access to support services from District Registration and Counselling Centres (DRCC). The app ensures students can conveniently manage their applications anytime. It’s available for Android devices and can be downloaded from the official Bihar Education Department website - http://www.7nishchay-yuvaupmission.bihar.gov.in/

Bihar Student Credit Card Application Form

Here we explain the Bihar Student Credit Card application form, and screenshots are provided below for your reference:

Bihar Student Credit Card Loan Repayment Rules

Understanding the repayment rules for the student credit card is essential for managing your loan effectively :

1. Loan Amount: Students can borrow up to Rs. 4 lakh to fund their higher education.
2. Repayment Start: Students do not need to start repaying the loan while they are studying. The repayment begins after completing the course and securing a job.
3. Repayment Holiday: This is a grace period where students are not required to make any payments. For example, if a student is enrolled in a three-year BSC course, they do not need to repay the loan during those three years.
4. Flexibility: This rule helps students focus on their studies without worrying about loan repayments. It allows them to start their careers and become financially stable before starting to repay the loan.
5. Interest Rate: The interest rate on the loan is 4% p.a.. There is a lower rate of 1% for females, transgenders, and disabled individuals.

Bihar Student Credit Card Grievance Redressal

Learn about the process for addressing any issues or complaints related to the Bihar Student Credit Card :

1. How to Raise a Grievance:
• Students can submit their complaints through the official Bihar Student Credit Card portal.
• It is important to provide detailed information about the issue for a quicker resolution.
2. Contact Information:
• For immediate assistance, students can call the helpline number: 1800 3456 444.
• Alternatively, they can send an email to spmubscc@bihar.gov.in.
3. Response Time: The authorities are expected to respond to grievances promptly, ensuring that students receive the support they need.
4. Follow-Up: Students should keep track of their complaints and follow up if they do not receive a response within a reasonable time frame.
5. Documentation: It is advisable to keep copies of all communications related to the grievance for reference.

Security & Insurance for Student Loan Amount

In general, student loans offered under government schemes like the Bihar Student Credit Card Scheme typically have relaxed requirements for security and insurance. Here’s what is usually observed for such schemes:

Security Requirements:

No Collateral Security: Most government-backed education loan schemes, including this one, do not require collateral security for loans up to ₹4 lakh. The loan is granted based on the student’s eligibility and course details.

1. Third-Party Guarantee: For higher loan amounts (above ₹4 lakh), some banks may request a third-party guarantor, but this is rare for government-supported schemes.

Insurance:

Loan Protection Insurance: Some banks may offer or mandate a loan insurance policy (education loan insurance). This ensures the loan is repaid in case of unforeseen circumstances such as the borrower’s death or permanent disability. The premium for this insurance is usually minimal and can be included in the loan amount.

1. Not Mandatory: For government schemes like the Bihar Student Credit Card, insurance requirements are often not mandatory. However, specific banks may have their own internal policies.

Note: To confirm the exact terms regarding security and insurance, it’s best to contact the scheme’s official help desk, DRCC, or the designated bank directly.