Bihar Student Credit Card Scheme Extended Till 2030-31
The Bihar government has extended the popular Bihar Student Credit Card Scheme (BSCCS) for another five years, ensuring its operation until the financial year 2030-31. This extension brings significant relief and opportunity for students across Bihar aspiring for higher education but facing financial hurdles. A substantial expenditure of ₹950 crore has been approved for the scheme for the 2026-27 financial year. This marks an increase of ₹64 crore compared to the previous financial year (2025-26), for which ₹886 crore was approved, highlighting the government's commitment to student welfare.
The BSCCS is a flagship initiative under the 'Saat Nishchay' program, designed to provide financial assistance in the form of education loans. This scheme is crucial for students who have passed their 12th standard (or 10th for Polytechnic courses) and secured admission to recognized higher education institutions. The loan amount, up to ₹4 lakh, covers various educational expenses including admission, tuition, examination, library, hostel fees, books, study materials, and even a laptop or computer, subject to scheme guidelines. The interest rate is a low 4%, with a further concession to 1% for Divyang, transgender, and girl students, calculated on a simple interest basis. This makes higher education accessible and affordable for a wider section of society.
A new arrangement allows students to receive up to ₹2 lakh through the Bihar State Education Finance Corporation, while amounts between ₹2 lakh and ₹4 lakh can be obtained from scheduled commercial banks. This change streamlines the process without reducing the maximum loan amount available. Students are encouraged to utilize this extended opportunity to pursue their academic dreams without financial burden. The application process is entirely online, followed by document verification at the District Registration and Counseling Center (DRCC).