Education Loan in Bihar: Nowadays if you see education plays a very crucial role all over the world. But due to the rising cost of education, many families are unable to bare the education fee for their children.
And to all those people who cannot afford education the good news, is that the government has provided many education loans that help those who are economically backward.
In that, Bihar is nothing special. Look into the below blog post, as we have provided complete information on education loan in Bihar. It is very helpful for the students who are in Bihar. Explore all the details like documents required, benefits of taking this loan, and many more are provided.
Highlights of the Bihar Student Credit Card Scheme
The Bihar student credit card scheme is one that is provided by the government of Bihar to students who want to study higher. Look into the highlights of this Bihar student credit card scheme.
| Particulars | Details |
| Scheme Name | Bihar Student Credit Card Scheme (BSCC) |
| Launched By | The Government of Bihar |
| Scheme Goal | To Provide financial support to students who have either passed Class 12 or Class 10 (for a polytechnic course) |
| Official Websites | bvm.bihar.gov.in/ |
| Benefits |
|
Eligibility Criteria For Education Loan in Bihar
To avail of all the benefits that the government has provided for education loan, the applicant should meet the below eligibility requirements.
- Firstly, the applicant should be a citizen of India.
- He/she should have secured admission to the college before disbursement.
- The age limit of the applicant is 16 to 25 years.
- Applicants should have the certificate of 12th class.
- If the student is applying for abroad studies they should have the score card of IELTS, GRE, GMAT, etc.
Documents Required For Education Loan in Bihar
If a student in Bihar needs to get an education loan they need to submit some documents to the banks. All the documents listed are provided below.
- Aadhar Card, Pan Card, or any other Identity proof.
- Residence Proof
- Admission letter from a recognized institution that you want to study
- Passport photos
- Marksheets and Certificates of 10th and 12th.
- Income Certificate
- Income tax return certificate for the last two years
- Tax Receipt
How To Apply For Bihar Student Credit Card Scheme
To get an education loan in Bihar we can happily apply online for it. We will look into the process of how to apply for the Bihar student credit card scheme. Before applying for it make sure you are eligible for the criteria and documents required.
- Firstly, visit the official website.
- Then, click on the “new application registration” tab.
- Then, it will ask for your information like name, email ID, Aadhar number, mobile number, and many others. Provide all the complete information and click on the “Send OTP” option.
- Immediately you will get a one-time password to your registered mobile number and email address, then just submit it.
- Once after submitting the OTP, the personal description and contact form will appear.
- Fill out the form completely by submitting the required information to access the Bihar credit card scheme application form.
- Again enter all the required information in the form and submit it.
- Once every form is submitted, you will get a unique registration number for your registered mobile number and email address.
- Once after completion, a form will be generated in PDF format that contains the details regarding documents that you need to submit, and a designated time to visit the District Registration and Counseling Centre (DRCC) counter for further processing of the application.
- Go to District Registration and Counseling Center on the given date by taking all the documents that you need.
- Once all the documents are submitted, take the receipt for the application from the designated counter.
If you are not a student in Bihar and booking for the best ways to get an education loan after the 12th then check out How to get an education loan after 12th.
How To Check Your Application Status for the Bihar Credit Card Scheme
Once after applying for the Bihar credit card scheme if you want to know the status of the approval then follow the below process.
- Open the website, bvm.bihar.gov.in.
- After that, on the home page, you will see the “ Application Status”.
- Click on that option, and then you will see the page “Student credit card scheme”.
- On this page, you will see the application status form, then fill out the form by giving all the required information like Aadhar number, Registration ID, and many more.
- After that click on the submit button.
- By that, you can see your application status.
Approval Process of Bihar Credit Card Scheme
Once after applying for your Bihar credit card scheme, have a look at the steps below on how the approval process will be done by the government.
- All the submitted applications will be done by government officials only.
- Once you have applied for the Bihar credit card scheme, verification will be done through the educational institution.
- From the day you applied to this scheme, the verification process will take 15 days.
- Once verification is done, beneficiary information will be provided to the bank.
- And within 15 days the loan will be approved.
- Once it is approved or disapproved you will get an SMS to your registered mobile number.
- If the loan is approved, you need to visit the bank.
Benefits of This Bihar Credit Card Scheme
Here we are going to provide you with the benefits of applying to this Bihar credit card scheme.
- By using this scheme, students can pay the loan with less interest rate.
- Students in Bihar can happily complete their higher studies by taking this scheme without placing any burden on families.
- In this loan, the total institution fees along with food and other educational expenses are included.
- For disabled students, loan will be given with more relaxation interest.
FAQs on Education Loan For Girl Students in Bihar
- Who is eligible for an education loan in Bihar?
Students who are 25 years and above are eligible for the education loan in Bihar. And the student should pass their 12th class.
- What is the student loan interest rate in Bihar?
Student loan interest rates in Bihar for nationalized banks are 9% and 14% and for private banks the interest rate is 11% and 17%.
- What is the limit of education loans in Bihar?
The limit of education loan in Bihar under the student credit card scheme is Rs. 4 lakhs.
Key Takeaways
Hoping that the information we have shared on Education loan in Bihar is beneficial for the students in Bihar. And by providing these education loans many students who are unable to study has got a source to complete their studies.
For other interesting articles like Education Loan in Kerala, check out our Student Education LoanPage on learncbse.com website.
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