I am a student from Bihar and I’m interested in learning more about the Bihar Student Credit Card Scheme. I would like to know the detailed eligibility criteria, benefits offered under the scheme, the application process, documents required, and how this scheme can help me finance my higher education?
Bihar Student Credit Card Scheme is a government-backed education loan initiative for students of Bihar, so that they can get an Education Loan of ₹4 lakh at 4% interest, for students with disability, female students and transgender students at only 1% interest. This government- backed student loan scheme in Bihar supports students who have passed class.12 for their further studies and offers much more favorable terms than any other student credit card in India. To apply for this students must be residents of Bihar and under 25 years of age.
1 Like
Is there same scheme for other’s state too? If it is, what states are they and the eligibility for the same?
Yes, there is a similar scheme for West Bengal too.
The West Bengal Student Credit Card Scheme is a government initiative aimed at providing financial assistance to students pursuing higher education in India or abroad. Under this scheme, students can avail a loan of up to ₹10 lakh at a simple interest rate of 4% per annum. Additionally, those who pay the interest regularly during the study period are eligible for a 1% interest concession. The loan comes with a generous repayment tenure of 15 years, which includes a one-year moratorium after the completion of the course or until the student gains employment—whichever is earlier. To be eligible, applicants must be Indian citizens who have been residents of West Bengal for at least the past 10 years, must be 40 years of age or younger, and must be enrolled in higher education programs at recognized institutions, including universities