The Bihar Student Credit Card Yojana was introduced by the government of Bihar. This scheme provides financial aid to students who need it. The state's Gross Education Ratio (GER), which was 14.3% in August 2018, was lower than the national average of 24%.

This scheme aims to increase this ratio to 30% within five years. The Student Credit Card Yojana of Bihar provides financing up to Rs.4 Lakh at nominal interest rates. You can utilize the money to finance a BA or B.Sc. course and an MBBSS.

The Bihar Student Credit Card Yojana: Key Highlights

Below are the key highlights of MNSSBY:

• Higher education loans up to Rs 4 Lakh are available.
• Enjoy low-interest rates.
• You can use the funds you have to pay for fees or buy books.
• This certificate is valid for various higher education courses.
• After securing a job, you can comfortably repay the loan.

Eligibility Criteria to Apply for the Bihar Student Credit Card Yojana

These guidelines are required to meet the BSCC eligibility requirements.

• It would be best if you were an Indian national to be eligible for the scheme.
• Bihar residents are required.
• It would be best if you were not older than 25 years old.
• As a student, to be eligible for a student credit card from Bihar, you must have:

1. Cleared the intermediate exam at institutions recognized by the Bihar School Exam Committee
2. Cleared 12th Grade from an institution recognized by the Central Board of Secondary Education (CBSE) or equivalent boards
3. Students from Sub-Shastri institutions that the Bihar State Sanskrit Education Board recognizes
4. This scheme will also facilitate passes from Moulvi students at recognized institutes (Bihar State Madrasa Board). These types of Educational Institutes must be located in Bihar.
5. You will not be eligible for the MNSSBY scheme if you hold a degree at the same level. This does not apply to management and technical courses. This scheme does not provide loans for science graduate degree holders to study again in another Faculty of Arts, Science, or Commerce. You will still be eligible to pursue higher education courses such as MBA or MCA.
6. Your CIBIL score cannot be lower than 700. If the CIBIL score falls below 700, the next highest authority will approve it.
7. For higher education, you must have been enrolled in or selected for enrollment at an educational institution recognized by the concerned regulatory boards/agencies of Bihar or any other central or state governments.
8. You will need a Unique ID or Aadhaar number.
9. A valid Permanent Account Number (PAN) is required.

What are the MNSSBY Student Credit Card Yojana's benefits?

You can enjoy these benefits as a beneficiary under the Bihar Student Credit Card Scheme.

• You can get an education loan up to Rs.4 Lakh.
• The loan is available for those pursuing general or polytechnic courses, not only technical ones.
• For girls, transgender, and divyang students, financing is available at a low-interest rate of 1%
• Monetary assistance is available to help pay fees, buy books, or purchase laptops.
• The government owns the loan and has very lenient recovery procedures. The government can waive the balance in extreme cases.
• Once the course is completed, and you have a job, repayment begins.