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Bihar Student Credit Card Scheme

The Bihar Student Credit Card Scheme is an initiative by the Government of Bihar aimed at empowering students by providing financial support for higher education. This scheme helps students overcome financial barriers and pursue their academic dreams without worrying about the cost of education.

Objectives of the Scheme

The primary objectives of the Bihar Student Credit Card Scheme are:

  1. Promote Higher Education: To increase the enrollment of students in higher education by providing financial assistance.
  2. Financial Inclusion: To ensure that financial constraints do not hinder meritorious students from pursuing their desired courses.
  3. Skill Development: To support students in acquiring skills and qualifications that enhance their employability.

Key Features of the Scheme

1. Eligibility:

  • The applicant must be a resident of Bihar.
  • The student must have passed 12th grade or equivalent from a recognized institution.
  • The applicant should be within the age group of 18 to 25 years (extendable up to 30 years for specific cases).

2. Loan Amount:

  • Students can avail a loan of up to INR 4 lakhs under this scheme.
  • The loan covers tuition fees, accommodation, books, and other related expenses.

3. Interest Rate:

  • The scheme offers a subsidized interest rate of 4% per annum.
  • For female students, transgender students, and differently-abled students, the interest rate is further reduced to 1%.

4. No Collateral Required:

  • No collateral or third-party guarantee is required to avail of the loan.

Application Process

1. Online Registration:

2. Submission of Application:

  • Fill in the required details and upload necessary documents such as Aadhaar card, 12th-grade mark sheet, admission letter, and fee structure.

3. Verification and Approval:

  • The application is verified by the authorities. Upon successful verification, the loan is sanctioned and disbursed to the educational institution's account.

4. Disbursement of Funds:

  • The loan amount is directly transferred to the institution’s bank account to cover the tuition fees and other expenses.
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