Bihar Student Credit Card scheme Finally get approved by Cabinet Latest News – The much anticipated and ambitious Student Credit Card Scheme (SCCS) of Bihar Government has finally got the cabinet approval on 14th September. Under this scheme, the state government will provide education loans to the students for higher studies in Bihar.
This scheme will be run by the education department will provide education loan of up to 4 Lakh
- Under this scheme, the state government will provide education loans to the 12th pass out students willing to pursue higher education. The state government will provide education loans of upto Rs. 4 lakh from the nationalized banks by acting as guarantor.
- 12th Pass students who secures admission in any of the recognized institutes for higher education will be eligible to avail the loan. Under the scheme, the state government has set a target of providing education loans to 5 Crore students within 2016-17.
Student Credit Card Scheme Launch –
The student credit card scheme launch announcement was made by the Bihar CM Nitish Kumar during his speech on the 70th Independence Day of the nation. Under the student credit card scheme, the state government would provide interest free loan of upto Rs. 4 Lakh to students.
Eligibility of Students
The students in the state pursuing/willing to pursue higher studies in professional courses, computer certificate courses from reputed institutions will be eligible for loan. Courses like CA, CFA, ICWA & so on and courses from IIM, IISC and IIT’s will come under the scheme.
Application forms for Student Credit Card Scheme
How to apply for Student Credit Card Scheme in Bihar –
Under the scheme,
- The students need not to directly approach the banks for loans, instead, the district registration centers will be accepting the applications from students
- After the document verification of the documents is done by the district centers, the applications will be sent to the banks.
- After that the banks will have 15 days to approve the loan applications.
- After the loan application is approved, the banks will specify another date within next 15 days to sign the loan agreement document and complete other formalities.
Quick Details about Student Credit Card Scheme
Reason of Launching Student Credit Card Scheme-
Note : Registration under this scheme will be started from 2 October Onward – Stay updated for further Updates.