Scheme Overview

Launched under the '7 Nischay' (Seven Resolves) programme of the Government of Bihar, the Bihar Student Credit Card Scheme (BSCC) aims to facilitate access to higher education by providing financial assistance to meritorious students facing economic constraints. The scheme operates through the Bihar State Education Finance Corporation (BSEFC), which acts as the guarantor for loans disbursed by scheduled commercial banks.

Financial Parameters

The scheme sanctions a maximum loan amount of ₹4,00,000 (Rupees Four Lakh Only) per student. The interest rate is fixed at 4% simple interest per annum for the general category. A concessional rate of 1% simple interest per annum is applicable for female students, transgender students, and students with disabilities (Divyangjan) having 40% or more disability. No collateral security or third-party guarantee is required from the borrower, as the State Government provides the guarantee through BSEFC.

Coverage & Repayment

The loan covers tuition fees, hostel charges, examination/library/laboratory fees, purchase of books/equipment/instruments, and caution deposit/building fund/refundable deposit (up to 10% of tuition fees). A moratorium period is provided covering the course duration plus one year, or six months after securing employment, whichever is earlier. Repayment tenure extends up to 15 years post-moratorium.

1. Portal Registration: Visit the official MNSSBY portal (https://www.7nishchay-yuvaupopjivan.bih.gov.in/) and register using a valid mobile number and email ID to generate login credentials.
2. Form Submission: Log in and fill the online Common Application Form (CAF) with personal, educational, admission, and bank account details.
3. Document Upload: Upload scanned copies of mandatory documents (Aadhaar, Domicile, Class 10 & 12 Marksheets, Admission Fee Receipt/Letter, Institute Fee Structure, Bank Passbook, Photograph, Caste/Disability Certificate if applicable).
4. DRCC Verification: Schedule an appointment and appear physically at the designated District Registration and Counselling Centre (DRCC) with original documents for biometric verification and scrutiny by the Counselling Officer.
5. Bank Processing: Upon successful verification, the application is forwarded to the selected bank branch. The bank processes the sanction and disburses the first installment directly to the educational institution's account.
6. Subsequent Disbursement: Subsequent installments are released upon submission of utilization certificates and fee receipts for the next academic year/semester through the portal.