EDUCATION LOAN ASSISTANCE

Students can avail education loan from any bank. You can apply for the loan through Vidya Lakshmi website or directly in the bank. Banks (both Govt. and Private) provide loan to the students of AICTE approved Institutions. Following documents would be required for education loan assistance:
• Fee Structure
• Bonafide letter
• Information Brochure
• 10th Mark Sheet/ Passing Certificate
• 12th Mark Sheet/ Passing Certificate ( As per the course applied for)
• Medical Fitness Certificate
• Gap year affidavit if applicable
• Graduation Mark Sheet (For PG students)
• Graduation Degree (For PG Students)
Documents Required from Parent/Guardian:
• Address proof
• Identity proof
• Last 3 months salary slips or salary certificate on employer’s letterhead( If Salaried )
• Last 2 years Form 16 from employer or last 2 years Income Tax returns.
• Bank Details (Copy of Pass book/ Cancelled Cheque)
• Last 6 months bank statement.
Note: - All documents required in Soft copy and Hard copy both.

Vidya Lakshmi Loan

Vidya Lakshmi is a first of its kind portal for students seeking Education Loan. It has been developed under the guidance of Department of Financial Services (Ministry of Finance), Department of Higher Education (Ministry of Human Resource Development) and Indian Banks Association (IBA). The portal has been developed and being maintained by NSDL e-Governance Infrastructure Limited. Students can view, apply and track the education loan applications to banks anytime, anywhere by accessing the portal. Vidya Lakshmi is an education loan portal run by the Government and is a platform where students can avail information on loans offered by 38 banks. The portal is operating under the aegis of Department of Financial Services, Department of Higher Education and Indian Banks Association (IBA). The portal has been able to help the students of remotest areas of the country as well in finding financial assistance for their studies. Loan aspirant has to register and login at https://www.vidyalakshmi.co.in/Students/ and fill-up the Common Education Loan Application Form (CELAF) and provide the necessary details. After filling the form, the applicant can search for Educational Loan and APPLY as per his/her needs, eligibility and convenience. Just by filling up a single common education loan application form, students can apply to 3 banks of his/her choice at one time. The online process of getting Education loan through Vidya Lakshmi has reduced the troubles of applying the loan manually otherwise.

Bihar Student Credit Card Scheme

Bihar Student Credit Card Scheme (applicable only to NAAC "A" grade, NBA accredited courses or NIRF ranked institutions) Bihar Student Credit Card Scheme is a loan scheme that helps students passing 12th standard. Those who want to pursue their higher education without thinking about their financial problems. It was launched on 2 October 2016. The aim of this government initiative is to bridge the gap between the gross enrollment ratio (GER) in Bihar and other parts of the country and to ensure that students do not stop studying due to lack of finance. As a student in Bihar, you can finance your higher education course by applying online for Bihar Student Credit Card. Bihar Student Credit Card Scheme is applicable only to NAAC, NBA accredited courses or NIRF ranked institutions. IIMT is the only institute in UP / Delhi NCR recognized by all 3 government organizations: -
• NAAC
• NBA (Computer Science & Engineering)
• NIRF (2018-19-MBA)
The state government has tied up with more than a dozen banks for the Bihar Student Credit Card Scheme. The Bihar government is the guarantor of this Rs 4 lakh loan. Student credit card scheme objectives The main objective of the scheme is to provide better opportunities to the students of Bihar. The government is providing loan facility under this scheme.
• Bihar government also wants to promote the talent present in the state. The target is to bring students from across the state under the scheme by 2021.
• Students are not required to visit the bank for loan. The loan process for this scheme is completed within a month.
Eligibility Conditions for MNSSBY Bihar Student Credit Card Scheme:
To apply for Bihar Student Credit Card, you should follow the following Bihar Student Credit Card Guidelines-
• Be a resident of Bihar.
• Have completed his 12th standard education.
• Maximum age limit is 25 years.
• Get an education in an authorized and accredited institution (NAAC 'A "grade, NBA or NIRF rank).
• Complete the higher education curriculum complete
Additionally, to apply for the Bihar Government Student Credit Card, you have to get 10th and 12th grade sheet, proof of admission to higher educational institution and documents like applicant and co-applicant's identity card, address proof, Aadhaar and PAN card Must prove his eligibility with. You will also have to submit the bank account details of the applicant's parents, family income certificate and Form-16. Benefits of MNSSBY Bihar Student Credit Card Scheme:
• Get an educational loan up to 4 lakh rupees.
•Loan is available for girls, transgender and disabled students at an interest rate equal to 1%.
• Monetary aid can be used to pay education fees, buy books, laptop, etc.
•The loan is owned by the government, thus making its recovery process moderate. In extreme cases, the government can completely waive the balance.
• Repayment starts after completion of the course and you can secure the job.

West Bengal Student Credit Card

The Higher Department of Education, Government of West Bengal has introduced the ‘Student Credit Card’ Scheme for the scholars of West Bengal to enable them to pursue education without having any financial constraints. This scheme is meant to support the scholars to pursue secondary, higher secondary, undergraduate and post graduate studies including professional degree and other equivalent courses in any School, College, University and other affiliated institutes within and abroad.
Students studying in various coaching institutes for appearing in several competitive examinations like Engineering, Medical, Law, IAS, IPS, WBCS etc, also can avail the loan under this credit card scheme. A student from West Bengal can get approved a maximum loan of INR 10 lacs @ 4% per annum (simple interest). 1% discount on interest is going to be provided to borrower if the interest is fully serviced during the study period. The maximum age limit for the interested student is 40 (forty) years at the time of applying for loan. The loan repayment period shall be fifteen (15) years for any loan availed under this scheme including the Moratorium / repayment holiday.
Documents Required for West Bengal Student Credit Card Scheme
(a) Colour Photograph of the candidate
(b) Colour Photograph of the co- candidate / co-borrower
(c) Page of the brochure / document showing course fee /tuition fee
(e) Student’s AADHAR Card
(F) Student’s Class 10th Board certificate.
(g) Guardian’s Address Proof
(h) Admission Receipt
(i) Student’s PAN Card / undertaking if not having PAN Card
(j) Guardian’s PAN Card / undertaking if not having PAN Card
(k) Signature of the student: Co-borrower / Guardian’s signature

Any student of west Bengal can apply for Student Credit Card through the website wbscc.wb.gov.in