Bihar Student Credit Card Loan Scheme | How to Apply | Application Form
India is one of the countries in the world with largest population. If people of India consider this as one of their pride among the world nations, then they have to feel ashamed as this has caused a number of problems in India starting from employment to that of the quality of living. It is a hard necessity for all Indians to realize one fact that there are still many people in India not going to school. Even when they do so, they stop directly up to their school education and they were not making attempts to continue.
|1||Name of the scheme||Student Credit Card Scheme (SCCS)|
|2||Initiated by||Chief Minister of Bihar|
|3||Objective of the scheme||To provide loan for students to start higher education|
|4||Main feature of the scheme||To provide backbone support for students from rural and backward community to start their higher education by providing loan without much restrictions.|
|5||Eligible courses||Professional Courses, CA, CFA, ICWA, IIM, IISC, IIT and so.|
Importance of higher education:
The main reason why many Indian students are more interested to go to school in their younger ages is that in most of the Indian states, mid day meal scheme is functioning in an effective manner. Only for that purpose, most parents are willing to send their children to school. One more important reason why they are doing is that there is no necessity for them to pay for their children’s school fee as it is also provided free of cost. Problem with higher education is that the same principle is not being applied.
When a student has completed school level education successfully, most of the parents from low background are not allowing their children to study further. They fear that they will be pushed to a hard situation if they are getting money from others or getting loan from banks. One more important thing is that there will be many more added things that students need to pay from their own pockets apart from the loan which may include book, getting notes, equipments, preparing for projects and so on.
Scenario in Bihar:
The ratio of students who are not going for higher education is not the same if we take whole India as consideration. There are still states wherein students are completing their school level education successfully, but not interested to proceed to the higher education. Only very few students are not interested to move to higher education by themselves. Rest of the students is interested to study further, but due to their financial situation, they were not able to make any decision by their own.
This situation has been clearly understood and studied by people in education department in Bihar. They made various surveys and took sample data from various occasions and they finally came up with Bihar credit card for students. This is considered to be one of the bold initiatives by the chief minister of Bihar, Mr. Nitish Kumar. There is no scheme like the one is prevailing in any other state of India. This is the first ever time that a government is taking attempts to help students for higher education.
Difficulties in getting Student loan:
Government of Bihar understood one fact that if any student wants to get loan for their higher education, the first and foremost thing that they have to do is that they need to find a guarantor for their loan approval. Without the signature and the profile of the guarantor, no bank in India will provide education loan for student as they follow this as a mandatory procedure for all types of loan requests. It is also not wise to ask banks to change their procedure as it is applicable nationwide for all banks.
Under Bihar credit card for students, the same standards that will be followed for any other request for loan will follow in its process, but the thing is that there is no necessity for students to get concerned about finding the guarantor. For those students from Bihar who want to pursue their higher education and requesting for loan, there is no need to find any guarantor in the nearby areas as the government of Bihar will itself become the guarantor for the loan request that is raised for higher education.
How to Apply Bihar Student Credit Card Loan
If students are being provided loan only through one government agency or bank, it will be difficult task for students to move to that particular bank and apply for loan. Realizing this, government of Bihar has given one biggest privilege, which is that students can now apply for loan in any of the national bank that is present in the same place where students are taking their higher education. For all eligible students, request for loan will be processed within a short span of time without any delay.
Bihar government will soon provide a portal in which each eligible students could apply online. After filling the application form online a pdf would be generated which have to given to the banks for getting this collateral free educational loan.
End to end coverage:
Another advantage of Bihar credit card for students is that there is no necessity for students to submit any bill for getting their loan request. If bills are made mandatory, then students can just get loan only for their fee. As it is not made as a mandatory procedure, students can now get their loan request approved where they can make use of their money to support their higher education in all aspects. Some of the important features of Bihar credit card for students are as follows:
- The scheme was introduced by honorable chief minister of Bihar on October 2nd on the eve of Gandhi Jayanti
- The main target of the scheme is to provide all sorts of assistance for students suffering from poverty in Bihar to realize their dream of higher education
- Maximum loan that is eligible for a student in this scheme is 7.5 lakhs
- For those students who fall below poverty line, they are eligible to receive loan amount of 4 lakhs which will be provided without any interest
- The interest that is incurred for such students will be taken care directly by the government of Bihar
- Students can apply for loan only in the place or the district where they have joined their higher education
- The scheme will apply only within the state of Bihar wherein if students are moving to higher education for other states, they will not be enrolled into the scheme
- Apart from professional courses, computer certificate courses are also included in the scheme, making it more useful for students from rural background.
After implementing the scheme successfully, the chief minister Nitish targets Indian prime minister as he completed of what he promised during elections, and hinted as those who claimed our seven resolutions cannot not be implemented can witness all those 7 resolutions getting final shape at the end of November this year.
It doesn’t matter whether the scheme is implemented as political play or not. The nature of the Student Credit Card Scheme (SCCS) would truly beneficial for students who desperately need financial aid for doing their higher studies. Experts analyzed that student credit card scheme would be true beneficial for students, however, government need to have an eye on re-payment as it pulls state economic further down.