The Government of Bihar is committed to increasing the Gross Enrolment Ratio (GER) in higher education to 30%, aligning with the national average. To achieve this, especially for economically weaker students, the Student Credit Card Scheme was launched under the 7 Nischay Yojana in 2015–20. This initiative provides financial assistance to students who wish to pursue higher education.

Objective:-

To ensure students from Bihar who have passed class 12 (or class 10 for polytechnic courses) can access higher education through financial support via education loans.

Key Features: :-

• 1. Eligibility:-

  • Permanent residents of Bihar.
  • Must have passed 12th grade (or 10th grade for polytechnic applicants).
  • Admission in a recognized institution in Bihar or other states.
  • Age should not exceed 25 years (or 30 for postgraduate programs).

• 2.Loan Coverage:-

  • Up to ₹4,00,000.
  • Covers tuition fees, accommodation, living expenses, books, etc.
  • Simple interest at 4%; 1% for women, differently abled, and transgender students.

• 3.Moratorium Period:-

  • Interest-free for 1 year after course completion or 6 months after employment (whichever is earlier).
  • Repayment: 60 months for loans up to ₹2 lakh; 84 months for loans above ₹2 lakh.

• 4. Application Process: -

  • Online application via portal or mobile app.
  • Submission of documents and verification at District Registration and Counselling Centre (DRCC).
  • Multi-level scrutiny, including by the third-party verification agency (TPVA).
  • Final loan sanction and disbursal via Bihar State Education Finance Corporation.

• 5. Required Documents: -

  • ID proof, academic records, admission proof, bank account details, income proof, and address proof.

• 6. Repayment Terms: -

  • Repayment starts post moratorium.
  • ID proof, academic records, admission proof, bank account details, income proof, and address proof.
  • If employment/income is not achieved, the loan repayment may be deferred but requires an affidavit.

• 7. Support System: -

  • Help desks available at DRCCs.
  • State-level call centres for grievance redressal and guidance.

Note:-

All decisions made under the scheme are subject to modifications by the Bihar Government.