Published Date - 06 September 2017 05:39:51 Updated Date - 25 October 2017 10:54:03

Student Credit Card Scheme (SCCS) Completely Launched in Bihar

The student credit card scheme launch announcement was made by the Bihar CM Nitish Kumar during his speech on the 70th Independence Day of the nation. Under the student credit card scheme, the state government would provide interest free loan of upto Rs. 4 Lakh to students for pursuing higher education without any  question in financial conditions.

The much anticipated and ambitious Student Credit Card Scheme (SCCS) of Bihar Government has finally got the cabinet approval on 14th September. The state government under the scheme will facilitate education loans to the students for higher studies.

To be run by the education department, Student Credit Card Scheme (SCCS) will facilitate the education loan to the 12th passout students willing to pursue higher education. The state government will facilitate education loans of upto Rs. 4 lakh from the nationalized banks by acting as guarantor.

Irrespective of the financial background, 12th Pass students who secures admission in any of the recognized institutes for higher education will be eligible to avail the loan. Under the scheme, the state government has set a target of disbursing education loans to 5 Crore students within 2016-17.

Under the scheme, the students need not to directly approach the banks for loans, instead, the district registration centers will be accepting the applications from students. Once the physical verification of the documents is done by the district centers, the applications will be sent to the banks. The banks will have 15 days to approve the loan applications.

After the loan application is approved, the banks will specify another date within next 15 days to sign the loan agreement document and complete other formalities. The applicant students will be informed via e-mail and text messages about the important dates and status of the loan.

 

Eligibility of Students

The students in the state pursuing/willing to pursue higher studies in professional courses, computer certificate courses from reputed institutions will be eligible for loan. Courses like CA, CFA, ICWA & so on and courses from IIM, IISC and IIT’s will come under the scheme.

Application forms for Student Credit Card Scheme

How to apply for Student Credit Card Scheme in Bihar –

Under the scheme,

  • The students need not to directly approach the banks for loans, instead, the district registration centers will be accepting the applications from students
  • . Once the physical verification of the documents is done by the district centers, the applications will be sent to the banks.
  • After that the banks will have 15 days to approve the loan applications.
  • After the loan application is approved, the banks will specify another date within next 15 days to sign the loan agreement document and complete other formalities.
  • The applicant students will be informed via e-mail and text messages about the important dates and status of the loan.


Leave Your Comment Here