The Bihar government is making attention for its “Bihar Student Credit Card” scheme clever plan to encourage more students to enrol in graduate-level or equivalent courses around the state. In order to accomplish this, the Nitish Kumar-led administration has developed a new plan Mukhyamantri Nishchay Swayam Sahayata Bhatta Yojana (MNSSBY) scheme that will help students in receiving the crucial education.

Bihar Student Credit card

A lending program called the Bihar Student Credit Card Yojana was launched in 2 October 2016 with the primary objective of assisting students in paying their college fees. Students who have completed their 12th grade can apply for an interest-free loan of up to Rs. 4 lakh. Loans are an option for students who want to pay for studies like engineering education, medical education, business education and many more courses like,  BTech, BCA, MBA, MCA, BAMS, BHMS, BSc Nursing, Pharmacy, Agriculture, BA, MA, MTech & many more courses.

Goals and Objectives

The primary goal of this scheme is to increase the state’s Gross Enrollment Ratio. Last time, the Gross Enrollment Ration (GER) was 14.3%, while the National GER was 24%. As a result, this scheme was launched in order to increase the state’s GER by 30% and make Bihar one of the most developed states. The government will provide financial assistance to deserving students who want to further their education but are unable to do so due to financial constraints. It will also aid in the employment of young people.

Advantages and features

• You can get maximum loan amount of Rs.4 lakh under this BSCC scheme.

• For technical, polytechnic, and general education courses, you may apply for a loan.

• You can get financial assistance if you need it to pay for fees, laptops, or books.

• Only when you have finished the course and found a job will you be required to begin making payments on the loan.

• Through the Bihar Student Education Finance Corporation, this scheme charges 4% simple interest (1% simple interest for women, people with disabilities, and transgender people).

• Since the loan is owned by the government, the recovery procedures are not particularly severe. The government may in some circumstances abrogate the balance.

Eligibility Criteria for Bihar Student Credit Card

The following is a list of the eligibility criteria for the Student Credit Card scheme of Bihar:

• You must reside in Bihar.

• You must be older than 25, at least and maximum age of the candidates should be 30 years.

• You must have completed the Intermediate standard. Class 12 graduates (polytechnic after tenth grade) and Bihar applicants who have completed the same in states like Jharkhand and West Bengal are also eligible for this scheme.

• You must enrol in a course at a recognized institution.

• The entire courses must be finished.

• Only the regular courses will be eligible for the loan.

How do I apply for a Bihar student credit card online?

There are step-by-step process for applying for the MNSSBY Student Credit Card online:

• Step 1: Visit the official website of MNSSBY Click Here

• Step 2: Locate the “New Applicant Registration” option and select it on the home page.

• Step 3: Next, you must input your email address, Aadhaar number, mobile number, first name, middle name, and last name.

• Step 4: Select “Send OTP.”

• Step 5: Input the OTP that was sent to your email address and mobile number. Select “Submit”

• Step 6: After the previous step has been finished, the registration process is finished. The login information will be sent to you through email and SMS.

• Step 7: Visit MNSSBY’s official website.

• Step 8: Enter the captcha information, username, and password. Click “Login.”

• Step 9: You’ll have to change your password and log in again using the new password.

• Step 10: Fill in your personal information on the following page.

• Step 11: Tab on “Submit.” button.

• Step 12: Select the “Bihar Student Credit Card” option from the “Select Scheme” menu.

• Step 13: Next, enter the personal information for both the applicant and the co-applicant.

• Step 14: After completing the financial and general information, click “Submit.”

• Step 15: You will receive an email acknowledgment; keep a record of it.

Required Documents 

List of the documents that must be provided to apply for the Student Credit Card Scheme

• Completed Common Application Form PAN Cards for the Applicant and Co-Applicant Copies of Scholarship Award Letters

• Approved course concept

• Fee structure

• Income tax return from the past year/Form 16

• The most recent six-month bank statement

• Tax invoice

• Aadhaar cards for the applicant and co-applicant, as well as transcripts from grades 10th and 12th.

• Admission evidence

• Two years’ worth of income tax returns, together with pictures of the student, parents, and guarantor

• Proof of address

When compared to other traditional credit cards offered by banks and non-banking financial institutions, this scheme is significantly different (NBFCs). The credit card’s primary function is to support school; as a result, it cannot be used for other things like a regular credit card.

When will you receive your student Credit Card?

Government personnel will review the supplied documents after they have all been successfully submitted. After obtaining the student’s documentation, the verification process can take up to 15 days. Consequently, you will receive your credit card in about two weeks.

Bihar Student Credit Card Courses List

It is known that students in the state have received loans for studies in 42 courses so far. If these 87 new courses are approved under this scheme, there will be a total of 129 courses available for study. There are many more courses, where you can apply student credit card. Some of the top courses are BTech, BCA, MBA, MCA, BAMS, BHMS, BSc Nursing, Pharmacy, Agriculture, BA, MA MTech, etc.

For more details and to get the list of courses covered by the MNSSBY Scheme, Visit the official website.

Bihar Student Credit Card Colleges List

The colleges covered by the Bihar student credit card Yojna are available throughout India and in every state. As a result, Bihar students from all over India can benefit from this facility. Which is a very good thing from the viewpoint of education; it has created a new revolution in the field of education, students who were unable to pay college fees or pursue further studies due to financial constraints. The list of colleges under this BSCC scheme is very long.

 For download in PDF the list of colleges covered by the MNSSBY Click Here

On October 2016, Nitish Kumar, the chief minister of Bihar, launched the Student Credit Card Yojana for Bihar students. This program’s goal is to lend money to Bihar State students so they can pursue higher education