- Eligibility: Permanent resident of Bihar.
- Qualification: Class 12 pass; Class 10 pass for approved polytechnic courses.
- Admission: Must have admission in a recognised institution and course.
- Age limit: Up to 25 years for undergraduate and 30 years for postgraduate courses.
- Maximum loan: ₹4 lakh.
- General interest rate: 4% simple interest.
- Concessional interest: 1% for women, transgender students and persons with disabilities.
- Expenses covered: Tuition fees, hostel expenses, books, study material and approved educational equipment,
- Repayment: Starts one year after course completion or six months after getting a job, whichever is earlier.
- Repayment period: Up to 60 instalments for loans up to ₹2 lakh and 84 instalments for loans above ₹2 lak
- Application: Through the Bihar government’s 7 Nishchay Yuva Mission portal.
- Main benefit: Enables students to pursue higher education without a heavy financial burden.
Question:
Q1.What is the maximum loan available under the Bihar Student Credit Card Scheme?
a) ₹2 lakh
b) ₹3 lakh
c) ₹4 lakh
d) ₹5 lakh
Answer: c) Eligible Bihar students can obtain an education loan of up to ₹4 lakh for recognised higher education courses. The amount can cover institutional fees, living costs, books and other approved educational expenses.
