Every student dreams of pursuing higher studies at reputable institutions with an aim of securing better job opportunities. However, for most students this dream remains unfulfilled due to lack of finances. Bihar government offers a loan through a credit card-based system that helps students realize their dream of studying further. Here’s how you can apply for this scheme.

Bihar Credit Card scheme

Students can avail a loan of up to Rs 4 lakh through the Bihar Credit Card scheme. This initiative aims to provide financial assistance for higher education to students who have passed the class 12. The scheme is particularly beneficial for students from economically disadvantaged backgrounds who face challenges in pursuing their higher education.

One of the key benefits of this scheme is that the state government offers loans of up to Rs 4 lakh to students at a simple interest rate of 4 percent. Moreover, female candidates, persons with disabilities (PwD) and transgender candidates can apply for the loan with an interest rate of 1 percent. 

Who can apply?

•    To apply for this scheme, you must be a permanent resident of Bihar. 
•    The upper age limit is 25 years. 
•    You must have passed class 12 from a recognized educational institution.

What are the documents needed?

•    Class 10th and 12th mark sheets
•    2 passport size photographs of parents and guarantor
•    Admission certificate from the higher education institute
•    Bank account details of parents
•    Bank statement for the last 6 months
•    Identity proof of the applicant (Aadhar card, passport, voter ID card, driving license, etc.).

Also read: Things to Keep in Mind Before Applying for an Education Loan

How to apply for the credit card:

•    Visit the website of the Education Department, Planning and Development Department, and Labor Resources Department.
•    Search for the ‘New Applicant Registration’ option and click on it.
•    Complete the registration form on the next page with details such as applicant's name, email ID, Aadhaar number, mobile number, etc.
•    Enter the OTP. 
•    After this step, you will receive a username and password via email.
•    Use these credentials to log in to the portal.
•    Go to the Student Credit Card section.
•    Fill out the application form.
•    Provide all the required details correctly.
•    Click on the submit button to finalize your application.
•    Save the application form as a PDF and review the document details.
•    You will receive details about further steps via your mobile number or email ID. 
•    Visit the office, submit the application form and required documents at the counter.
•    You will receive credit card-related information through email.

Also read: For dreams as big as the skies: Education loans can help you achieve your ambitions