According to the sources in the education department, the applications for the students who want to be covered under the Bihar government’s student credit card would be collected through the registration centres that would collect on the district level. The applications at the registration centres would be received and approved by a competent government authority. The students who are seeking loan would have to quote their ‘Aadhaar numbers’ in their application. The Bihar government plans to make digital copies of the applications received in order to ensure transparency.
The government have plans to launch the credit card scheme from the first week of April 2016 to provide a maximum loan of Rs 4 lakh to students who have passed Class 12th. The student’s credit card scheme is a part of the CM Nitish Kumar's ‘Seven Resolves’ and the government envisions to provide a financial assistance to the students who are unable to pursue higher education due to economic hardships. Under the scheme, the department of education would set up new registration centres at the district level to collect the applications from the students who want to be covered under the scheme.
Mr Anup Kumar, the deputy director of the education department, informed that Loan up to Rs 4 lakh would be provided under the 'Student Credit Card' scheme. The Bihar state government would act as a sponsor (guarantor) for 25 % of the total loan amount and the students would have to repay it after a period of 4 years.