Bihar Student Credit Card Scheme

DETAILS The Department of Education introduced a scheme named "Bihar Student Credit Card Scheme". Its aim is to provide financial aid to students to complete their higher education. In this scheme, the students can avail loans of up to ₹4 lakhs at minimal interest rates. They can utilize these funds for financing courses like B.Sc, B.A, B.Tech, or MBBS. This scheme is specifically for all those students who are interested in pursuing higher education but due to lack of financial resources, they are not able to pursue the same. BENEFITS The eligible students will get the following benefits under this scheme:- A maximum loan amount of ₹4 lakh. Loan can be availed for polytechnic, technical and general courses. This assistance may be utilized for purchasing of books and laptops or pay any kind of fees. Repayment of the loan starts once the course has been completed and student have secured a job. The interest rate of the loan is 1% for Divyang, transgender, and girl students. The recovery procedures are flexible since the loan is government-owned. ELIGIBILITY The applicant must be a resident of Bihar state and should be at least 25 years. The applicant must have passed the class 12th. The applicant must get admission to a course in an authorized institute. The applicant must complete the entire course.