Bihar Student Credit Card Scheme: A Transformative Initiative for Higher Education

Bihar government under the leadership of Chief Minister Mr. Nitish Kumar is writing a new chapter of development. In the last 18 years, following the resolution of 'Development with Justice', Chief Minister Mr. Nitish Kumar took many important steps to improve the field of education. The results of which are now visible in Bihar. Chief Minister Mr. Nitish Kumar not only established educational institutions in Bihar but also started a scheme for financial assistance to the students studying in them.

Bihar Student Credit Card Scheme is the result of the far-sighted thinking of Chief Minister Mr. Nitish Kumar. Due to poverty, many boys and girls are unable to acquire higher education despite their desire. Due to lack of money, their desire to do something better dies. To provide financial assistance to such poor students, Bihar government under the leadership of Chief Minister Mr. Nitish Kumar is running the Student Credit Card Scheme. Chief Minister Mr. Nitish Kumar launched the Student Credit Card Scheme on 2 October 2016 under the important link of Saat Nischay, 'Arthik Hal Yuvaon Ko Bal'. Under which the government provides loan up to Rs 4 lakh to the students.

The objective of this scheme is to provide financial assistance for the education of poor children. In fact, every year due to lack of money, most of the children are forced to leave their studies midway. In such a situation, with the help of Student Credit Card Scheme, they will be able to continue their further studies. Under the Bihar Student Credit Card Scheme run by Chief Minister Shri Nitish Kumar, financial assistance is provided to the poor and economically weak students of the state by encouraging them to pursue higher education. This scheme is playing an important role in realizing the dreams of lakhs of students. Under the Student Credit Card Scheme, loans are being provided to 12th pass students pursuing technical education as well as students pursuing general education. Despite complying with the necessary conditions of the banks, there was a lot of delay in the loan approved by the banks under this scheme. In view of this, Chief Minister Shri Nitish Kumar has established Bihar State Education Finance Corporation. Through Student Credit Card, Bihar State Education Finance Corporation provides education loan of up to Rs 4 lakh to the students. A provision of Rs 690 crore has been made for the Student Credit Card Scheme in the budget for the financial year 2023-24.

Students who have passed the 12th examination can avail the benefits of Bihar Student Credit Card Scheme. Under this scheme, poor students get loan for further studies. After passing matriculation, students studying polytechnic have also started getting the benefit of this scheme. Now the government will also give a loan of Rs 4 lakh for studying abroad. The special thing about the Bihar Student Credit Card Scheme is that the state government itself is the guarantor of the loan taken under it. Under this scheme, the student can get a loan of up to Rs 4 lakh. Bihar Student Credit Card Scheme is also good because students can apply online through the portal.

They no longer need to visit the branches of banks. Such students of Bihar will have to apply at https://www.7nishchay-yuvaupmission.bihar.gov.in. Under this scheme, there is provision to provide loan for hostel, textbooks etc. along with the fees of educational institutions. A student can get a maximum loan of Rs. 4 lakhs. If a student has arranged for the tuition fees of the institute where he is studying and wants to take a loan for accommodation, food and books and copies, then he can take it. Along with this, an amount of Rs. 35 thousand can be obtained for laptop. Under this scheme, there is a provision to provide loan to students at 4 percent interest and to girl students of all categories, Divyang and transgender applicants at just one percent interest.

Many types of social changes are also becoming possible through student credit card. This is increasing the rate of higher education in the state. Earlier, the number of people getting higher education in the state was only 14.3 percent. Through the Student Credit Card Scheme, the Bihar government has set a target of increasing it to 30 percent.

It is known that the average of people getting higher education across the country is 24 percent. Ever since the distribution of student credit cards has started through Bihar State Education Finance Corporation, the number of applications in colleges for higher education has increased. Loans are being provided through cards not only for technical courses but also for other general courses. Along with credit cards, the youth in the state have also been linked with Swayam Sahayata Bhatta Yojana and Kushal Yuva Karyakram. So far, lakhs of students have realized their dreams by taking advantage of this ambitious scheme. The government has decided that even if the number of applications exceeds the target, all the selected applicants will be given the benefit of this scheme.

In this era, which is called the age of knowledge, everyone wants to provide higher education to their children. For this, they wish to send their children not only to the best educational institutions in the country but also abroad, but getting higher education is becoming difficult nowadays because education has become very expensive. In such a situation, the Student Credit Card Scheme of the Bihar Government is proving to be very useful for the students of poor and middle class families. Their dream of getting higher education is coming true.