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Bihar Student Education Loan Scheme

Bihar Student Education Loan Scheme
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The Bihar Student Education Loan Scheme, popularly known as the Student Credit Card Yojana (SCCY), was launched by the Government of Bihar in 2016. Its main goal is to help students from Bihar pursue higher education in India and abroad by providing collateral-free, low-interest education loans.

Under this scheme, students can avail up to ₹4 lakh loan for higher studies. The scheme is part of the “Saat Nischay” (Seven Resolves) program of the state government, which aims to empower the youth through education and employment.

Eligibility Criteria

To apply for the scheme, students must meet the following conditions:

  • Residency: Must be a permanent resident of Bihar.

  • Age Limit: Applicant should be up to 25 years old at the time of application. For postgraduate/professional courses, the age limit is extended to 30 years.

  • Academic Qualification: Must have passed Class 12 (Intermediate) or an equivalent examination.

  • Admission Requirement: Student must have secured admission in a recognized institution in India or abroad for higher education.

  • Courses Covered:

    • Graduation (BA, BSc, BCom, BTech, MBBS, Nursing, etc.)

    • Post-Graduation (MA, MSc, MBA, MTech, etc.)

    • Professional/technical courses (Engineering, Medical, Law, Management, Polytechnic, IT, CA, CS, etc.)

    • Diploma courses in recognized institutions

Key Benefits of the Scheme

  • Loan Amount: Up to ₹4 lakh for higher education.

  • No Collateral Needed: Students don’t need to mortgage property or provide security.

  • Low Interest Rate:

    • Male Students: 4% per annum

    • Female, Transgender, and Divyang (disabled) Students: 1% per annum

  • Coverage: Tuition fees, books, equipment, examination charges, hostel charges, and other study-related expenses.

  • Repayment: Flexible repayment after course completion and grace period for finding employment.

  • Government Support: Interest subsidy is provided by the state government during the study period.

Documents Required

Applicants need to submit the following documents while applying:

  1. Identity Proof – Aadhaar Card, Voter ID, or PAN Card

  2. Address Proof – Ration Card, Electricity Bill, or Resident Certificate

  3. Age Proof – Birth Certificate or 10th Certificate

  4. Educational Certificates – Class 10 and 12 mark sheets, degree/provisional certificate if applicable

  5. Admission Proof – Offer letter/Admission letter from recognized institution

  6. Fee Structure – Fee details from the institution

  7. Income Certificate – Proof of family income

  8. Passport-size Photographs

  9. Bank Account Details of the applicant/student

  10. Guarantor Details – Parent/Guardian information

How to Apply

The application process for the Bihar Student Education Loan Scheme is fully online. Here’s a step-by-step guide:

  1. Registration:

    • Visit the official Bihar Student Credit Card Yojana portal.

    • Register using your basic details like name, mobile number, and email ID.

  2. Application Form:

    • Log in with your credentials.

    • Fill in academic details, personal details, and loan requirements.

    • Upload scanned copies of documents.

  3. Approval Process:

    • Application is verified by the District Registration and Counselling Centre (DRCC).

    • Students may be called for document verification and counseling.

  4. Loan Sanction:

    • Once verified, the loan is sanctioned and forwarded to the bank partnered under the scheme (like Bihar State Co-operative Bank and other scheduled banks).

  5. Disbursal:

    • The sanctioned loan is disbursed directly to the educational institution for fee payment or to the student’s account for related expenses.

  6. The application process is completely offline. Eligible students must visit their nearest bank branch to apply.

FAQs About Bihar Student Education Loan Scheme

Q1. How much loan can I get under this scheme?
You can avail up to ₹4 lakh for higher studies.

Q2. Do I need to provide any collateral or guarantee?
No collateral is required. Only basic documents and a parent/guardian as co-applicant are needed.

Q3. What is the interest rate?

  • Male students: 4% per annum

  • Female, transgender, and disabled students: 1% per annum

Q4. Which courses are covered?
The scheme covers graduate, postgraduate, professional, and diploma courses in recognized institutions in India and abroad.

Q5. When do I have to start repaying the loan?
Repayment starts after course completion and a grace period for job placement.

Q6. Is this scheme only for Bihar residents?
Yes. Only permanent residents of Bihar are eligible.

Q7. Can I apply for studies abroad?
Yes, the scheme also covers students who secure admission in recognized institutions abroad.

Q8. How do I track my application?
After applying online, you can track your application status through the DRCC center in your district.