Bihar Government (bihar gov) has finally started the bihar student credit card scheme in its region from October 2nd. The government of state is working out to provide education loans or study loans to Intermediate Passed students of up to 4 lakhs under this credit card scheme. Within 2016-17, the government is aiming to give credit cards to over 5 lakh students.
Latest Update on March 7th 2018: Bihar gov has taken a decision to setup Education Finance Corporation, a corporation for loan disbursement to students. In spite of being given proper guarantee to students of loan amount, banks were holding up the distribution of loan. So, from next economic year, the new Education Finance Corporation will provide the loans instead of banks.
Online Application for Bihar Student Credit Card Scheme:
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The applicants can apply for this scheme through the official website https://www.7nishchay-yuvaupmission.bihar.gov.in/ or through the mobile app. The government of state has introduced the online portal for this scheme online application.
Steps to Apply Online for Bihar Student Credit Card Scheme:
The applicants or 12th pass students who are eligible for this scheme can apply either by visiting online portal or mobile app. Follow the below steps to apply online for this scheme:
- Applicants will have to fill the mandatory details in online portal or mobile app.
- The Applicants will receive a OTP (One Time Password) on their issued mobile number and email ID.
- After entering the OTP in the box given, a new page of form will be opened where the applicants need to submit their required personal details. After entering them, three options will be displayed.
- Select Student Credit Card from the three options given and a new application form will be opened.
- Enter the required details in the form and submit it by hitting the submit button.
- A unique identification number will be given after submitting the application form. This unique identification number will be sent to email ID or on their mobile number.
- Applicants will also receive the submitted application form PDF Copy on the email ID and the details of documents required. The documents and the application form will be necessary at the counter.
Online Application Portal for Bihar Student Credit Scheme: https://www.7nishchay-yuvaupmission.bihar.gov.in/
The Applicants will be notified on their mobile phones and emails about the visiting date to the counter.
You can also Download Application Form of Bihar Student Credit Card Scheme for application.
There are 12 different sections in the 8 pages application form. You need to enter the following details with a form of declaration and receipt in the end.
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- Applicant’s personal information
- Co-applicant’s finance or income information
- Co-applicant’s employment details
- Offered security details
- Study/course details
- Loan section
- Co-applicant’s financial worth details
- Co-applicant’s bank account and additional details
- Existing loans details
- Preferred interest payment or repayment
- General details
- List of required documents
Documents required for Bihar Student Credit Card Scheme:
- Admission certificate or selection certificate from higher education institution.
- Brief documents of education fee, to be issued by the institution.
- A Resident Certificate.
- 12th Pass Certificate.
- Self attested copy of online filled application form with pasting passport size photo on it.
- PAN Card.
- Two photos each of applicants, parents and guarantor.
- Family income certificate of previous year and Form – 16.
- Income returns details on previous two years.
- Last 6 months statement of parents bank accounts.
- Income tax deposit receipt (if any advance tax case, property tax case or municipal committee tax case).
- Other documents such as Passport, Aadhaar card, voter ID card or driving license etc.
With these basic documents, students need to visit the counters on the given date.
Loan Approval Process:
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The officials of government will check and verify all the documents and details submitted by the applicants including the admission details from respective institutions. This process will be done within 15 days after receiving the required documents from the applicants.
After the verification, documents/details will be shared with the banks which need to then approve or disapprove the loan within 15 days time. The approval/disapproval of loan with reason will be sent to the applicants by banks through an SMS.
In case of approval, the students will be required to complete the formalities by visiting the bank branch. After this, the banks will provide credit cards to the applicants which can be used to fee pay and higher education expenses.