Bihar Student Credit Card Scheme: Admission Procedure and Eligibility

• Launch Date: Gandhi Jayanti, October 2, 2016.
• Purpose: To help students from economically disadvantaged backgrounds financially so they can pursue higher education.
• Part of: Mukhyamantri Nishchay Swayam Sahayata Bhata Yojana (MNSSBY).

Primary Objectives of the Bihar Student Credit Card Yojana

• To provide financial aid and student credit cards to students from economically disadvantaged groups in Bihar so they can complete their higher education.
• To raise the enrolment percentage overall by expanding admissions to Bihar's higher education institutions
• For prohibiting kids from dropping out of school if they don't have enough money.
• To promote low-interest educational loan programs.

Important Features

• Simple interest rate: In contrast to bank loans for education, which charge 6–14% interest, the interest rate is 4% simple interest annually.
• No collateral is required of students who take advantage of this loan program.
• Moratorium period: Usually, loan repayment doesn't start until one year of coursework or education is finished, or five years after the loan was disbursed, whichever comes first.
• Extended payback period: Following the moratorium, students have five to seven years to pay back the debt.
• A loan of up to Rs. 4 lakhs is available to qualified students who want to pursue higher education.

Perks of the Bihar Student Credit Card Scheme

• Under this initiative, qualified students will receive the following benefits: a maximum loan sum of ₹4 lakh.
• Loans are available for general, technical, and polytechnic studies.
• This aid can be used to pay for any fees or to buy books and computers.
• Once the course is over and the student has found employment, debt repayment begins.
• For Divyang, transgender, and female students, the loan interest rate is 1%.
• Because the debt is owned by the government, the recovery methods are flexible.

Bihar credit card scheme eligibility criteria

• They have to live in the state of Bihar.
• They ought to be younger than 25.
• The 12th standard must have been passed by them.
• They have to finish the full course.
• They must be enrolled in or chosen to enroll in a central or state-recognized institution for higher education.
• They must be enrolled in a variety of professional or technical courses as well as general higher education courses. The complete list of courses that are eligible for loans under the program is provided here.
• They cannot be receiving any type of aid, including scholarships, student loans, student credit cards, or allowances.

Bihar student credit card scheme admission process

• Visit the official Bihar student credit card website: https://www.7nishchay-yuvaupmission.bihar.gov.in.
• Go to the official Mukhyamantri Nishchay Swayam Sahayata Bhata Yojana (MNSSBY) portal: MNSSBY Official Website
• Register as a New User
• The "New Applicant Registration" link should be clicked.
• Enter the necessary information, including your name, mobile number, email address, and password.
• To obtain a registration ID and password at your registered email address and cell phone number, submit the registration form.
• Open Your Account and log in to access the MNSSBY site, enter your registration ID and password.
• Complete the application. From the different schemes, choose the Bihar Student Credit Card Scheme. Fill out the online application by providing the required financial, educational, and personal information.
• Before continuing, make sure all of your entries are correct. Upload the necessary documents. Scan and submit the necessary files. Usually, these consist of: A current passport-sized Photo and a grading sheet for the twelfth grade.
• The college or university's letter of admission or offer. Proof of residence (such as a voter ID or an Aadhaar card).
• Parental or guardian income certificate. Details of your bank account.
• The applicant's PAN or Aadhaar card.
• Send in the application
• Examine the completed application and the files that were uploaded.
• To finish the application procedure, click the "Submit" button.
• Print the application. Take a hard copy of the application after submitting it for your records.
• Application Tracking: Using your registration ID and password, you may use the MNSSBY site to monitor the progress of your application.

After-Application Procedure

• Verification: The authorities will verify the application and supporting documentation. If further information or explanation is required, you could be contacted.
• Approval: The loan approval procedure will start after verification, and you will be informed of the approval status.
• Disbursement: The loan money will be sent to the specified bank account upon approval.
• Contact and assistance are accessible at 1800 3456 444, the Bihar Student Credit Card Helpline number.

Documents required for Bihar student credit card

• A submitted copy of your Application form
• Aadhaar card
• Pan Card
• 10^th and 12^th mark sheet and certificate
• Copies of the letter conferring scholarship (If available)
• Approved course structure
• Proof of admission
• Fee schedule
• Photographs
• The previous year’s income certificate
• The previous two years’ income tax return
• The previous six months’ bank statement
• Proof of residence (Passport, ID, driving license, Voter ID)
• Tax receipt

B.Tech admission with a Bihar Student Credit Card

• You must register on the official website of the Bihar Student Credit Card
• Choose the Student Credit Card option from the drop-down menu.
• Apply to your desired university using your Bihar Student Credit Card registration number.
• Fill in your B.Tech details and submit the form
• You will get an appointment receipt with the DRCC through SMS or email.
• Go to the District Registration and Counselling Center (DRCC) in your area to get your documents verified.
• After verification, your loan request will be forwarded to the partnered bank.
• Once you receive an SMS of loan approval, you can visit the bank to get the amount disbursed.

Why choose KCC Institute of Technology and Management for B.Tech admission via the Bihar Student Credit Card Scheme?

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