Student Credit Card(SCC) Scheme
About Student Credit Card Scheme
The Student Credit Card (SCC) Scheme is implemented in Bihar state with the intension of providing feasible financial support to the students who are about to engaged with their higher educational studies.Under this SCC scheme, the eligible students will be given credit card, by using that students can avail free educational loan from the banks.
Objective of the Student Credit Card scheme
The main objective of the scheme is to provide students of Bihar with enough financial support so that they can pursue their higher studies. This scheme encourage the financially weak students to carry on with their studies. Students avoid educational loan because of the heavy interest rate charged by the banks, but the Student Credit Card scheme provides an interest free loan. The government of Bihar is aiming at proving the students credit cards to many deserving students in Bihar.
Features of the Student Credit Card scheme
- Under this scheme the government of Bihar will be providing a loan of up to Rs.4 lakhs to the students who have completed their class 12 exams, without any interest.
- The courses for which the students may take loan under this scheme could include any kind of higher studies including engineering, CA, CFA, Management, Medical, Education, etc.But then the course has to be from an authorized and reputed institution or college.
- As of now no specific eligibility criteria has been mentioned by the government to avail this scheme. It has been said that all the students of Bihar who are interested in continuing their studies in professional courses at a reputed institution, would be given the credit card.
- While giving the loan, the reimbursing capacity of the student and the patterns will be taken into account. Depending on this the loan will be provided.
- The forms for the scheme will be available online and offline. A card will be issued under this scheme that will let to draw the loan money when needed.
- For the collection of the application form of this scheme different counters will be set in the state. Once the forms are submitted by the candidates, it will be checked and verified thoroughly before the card is given to the students.
- It has also been said that the applicants have to provide their Aadhaar card number on the application forms. And in order to make this loan system more transparent, the applicant’s data will be digitized.
- The students will be able to use the loan amount for buying books, paying monthly or semester fees, buying computers, or buying any other educational equipment.
- It has been mentioned that the students who will take the loan will have to start paying back the loan amount after 4 years from the date they have taken the loan.
Eligibility for the Students
- Students who are residents of Bihar state .
- Students who studied and passed class 12th in Bihar.
- Students who studies in the government authorized schools / broads can apply.
- Poor and under privileged students who cannot afford higher education and want to go for higher studies.
- loan can be given for courses such as vocational and technical courses as well such as BA, BSc, Engineering, MBBS, Management, Law etc.
- If the hostel cannot be alloted to the students then such students will be given allowance provided they provide hospital unavailability certicate from the college.
- Age Limit: Applicant should not be more than 25 years of age on the date of application.
- Candidates who are already graduate will not be eligible for second degree under the scheme.
- If the beneciary leaves the eduction in the middle then he wont get the remaining loan amount.
List of Documents Needed for Student Credit Card scheme
- Applicant must have the certified mark sheets of their 10 and 12 Along with the college Prospectus and other needed information that cites about the courses which they are about to do.
- Application must have the enough evidence over their admission to the respective educational institution along with the fee structure offered by the particular institute, which needs be duly attested.
- Apart from those, to avail loan amount under this SCC eligible beneficiaries must provide the duplicate copy of their PAN, Aadhaar, recently captured 2 passport Photos of both students and so the guardians/parents.
- In addition to that students must provide their family income proof and in case of employment should submit the last couple of year I.T returns papers of the parents, along with the residential proof like (Driving license, Passport, ID cards, Voter ID’s and so).
Process to Apply for Student Credit Card scheme
A Students can apply for this scheme only Online. A portal will be provided where students can fill the form. Each student should have a valid email id and a working phone number. An OTP will be sent on his phone number. Student have to Make sure that their aadhar card ready at the time of applying. After filling the form a pdf would be mailed to the student. Student have to show this pdf at the bank to get the loan.