- Almost every student wants to get higher education but because of their poor economic condition, various students are not capable to accomplish their ambition or dream of getting higher education.
To assure the accessibility of higher education among all the students, various states government and the Central government of the country start various projects or schemes.
In this article, we’re going to discuss one such project or scheme inaugurated by the West Bengal Government which is called the West Bengal Student Credit Card Scheme. Through this government scheme, poor students will be provided loans for their higher education.
Through this article, you’ll get all the essential information about the West Bengal Student Credit Card and its objectives, advantages, features, eligibility criteria, and many more aspects. So, let’s begin this:
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What is West Bengal Student Credit Card?
The West Bengal Student Credit Card Scheme has been launched by West Bengal’s Chief Minister Ms. Mamata Banerjee. The decision to begin this project was taken in a State Cabinet Meeting held on 24th June 2021. Through this project or scheme, poor students of class 10th or above can take an education loan up to Rs. 10 lakhs for their higher education. They will get this loan at a very low-interest rate. A Credit Card will also be provided to the students to avail of this loan. With the help of this Credit Card, the students who’ve applied for this scheme can withdraw the loan amount easily. Loans can be taken under this project for Undergraduate Courses, Postgraduate Courses, Doctorate Courses, and Postdoctoral Courses in India or abroad.
So, just to clear the confusion, it is technically not a regular bank credit card, it is actually a loan facility with a super-low interest rate of only 4%. However, you can also purchase academic goods with a certain percentage of the loan amount. Check the details below.
Objectives of West Bengal Student Credit Card Scheme:
The primary objective of the West Bengal Student Credit Card is to supply loans to poor students for their higher education. Through this government project, an education loan of up to Rs. 10 lakhs will be provided to poor students which will help them to pursue their higher education without considering the financial expenses. Now every student of West Bengal will be capable to obtain higher education. This project will also detract the unemployment rate among the citizens of West Bengal as now more students will be capable to obtain proper education and employment.
Benefits and features of West Bengal Student Credit Card Scheme
- This government scheme has been inaugurated by the Chief Minister of West Bengal Ms. Mamata Bannerjee.
- Through this government project, poor students will be provided educational loans up to Rs. 10 Lakhs for their higher education.
- Students who are studying in class 10th or above are eligible to take advantage of this government scheme.
- The education loan issued through this government scheme will be available at a nominal interest rate of 4%.
- Note that this interest is SIMPLE INTEREST and WON’T BE COMPOUNDED ANNUALLY. This will be a huge relief to the students.
- The students also get a Credit Card through which the eligible students can withdraw their loan amount easily.
- All those students who’re residing in West Bengal for the last 10 years are completely eligible for this scheme.
- The benefit of this government project can be utilized till the age of 40 years.
- The students have to recompense the loan amount within 15 years after getting a job.
- Students who start repaying back the loan will get a rebate of 1%, that is, for them, the interest rate will be only 3%.
Eligibility Criteria for this West Bengal Government Scheme:
- The applicants who’re applying for this scheme must be permanent citizens of West Bengal.
- The applicants must have resided in West Bengal for at least 10 years.
- The student is studying in class 10th or above. Your current school/college/university and course details will be needed while registering and applying for the loan.
- This scheme will cover all schools, colleges, universities, madrasas, and all CFTIs.
- The upper age limit for this government scheme is 40 years.
- You will also need a co-applicant (guardian) for the registration.
- During the loan tenure, you need to continuously upload your yearly/semester mark sheets/grade cards on the Govt. portal.
How to Apply and Register Yourself for this Scheme?
The step-by-step procedure to apply and register for this Government Scheme is described in the following steps:
Disclaimer: I haven’t applied for this loan personally, the following details are taken on the basis of information available on the website. So this might not match 100%.
Steps to Register Yourself on the WBSSC Portal:
1. First of all Visit the official website of the Department of Higher Education, Govt. of West Bengal.
2. Click on the Student Registration option on the top right side of the WBSSC Portal.
3. After clicking on the option, there will be a Registration Form. Fill up all the essential details like your name, date of birth, course name, contact details, etc. After filling in all the details, enter the password and confirm it by entering again. And then, click on the Register button.
You need to link your Aadhar Card or Class X (Madhyamik Examination) Registration number with the portal.
4. After the completion of the registration procedure on the WBSSC Portal, a Unique ID will be created which will be sent to your registered Mobile Number which will be used as your User ID to apply on the portal.
Steps to Apply for the Student Credit Card from the WBSSC Portal:
1. After the Registration Process, again visit the official website of the Department of Higher Education, Govt. of West Bengal. Now, click on the Student Login button which is also on the top right side of the WBSSC Portal.
2. Now, login with your Applicant ID (which is your registration number) and Password and Click on the Login button.
3. Click on the Apply Online option on the Applicant dashboard which is on the left side of the portal.
4. Now, fill out all the important details in the Student Credit Card Application Form like your personal details, address, bank details, etc.
5. Now, you’ve to upload all the documents in the Upload Supporting Document option like Aadhar Card, PAN Card, Signature, Photo, Address Proof, etc.
Note: You need to give a declaration of your annual family income, although income proof documents are NOT NECESSARY. You just need to quote the income value.
6. Now, click on the Save button to save the Application Form, and after that Applicant’s Profile view will appear on the screen with the uploaded signature and photo.
7. Now submit the Application form by clicking on the Submit button.
List of Documents required for this scheme
- Aadhaar Card
- Residence Certificate of your State
- Age Proof Document
- Income Certificate of your Father
- Bank Passbook (for Bank Account Details)
- Mobile Number
- Photograph of Passport-size
- Ration Card
- In addition, you need to upload your mark sheets on the portal regularly throughout your loan tenure
Student Credit Card Scheme is a remarkable government scheme started by the West Bengal Government. The primary goal of this government project is to provide loans to poor students for their higher studies. Because of this scheme, their economical burden will be reduced and they can focus on their study without bothering about the money. Every student will be able to obtain proper education and through this step, the rate of unemployment in the state will be reduced. Also in case of any queries, you can simply call on the toll-free number or mail them, the contact details you will find on their website.
Thank you for reading. Do let us know if you have any further queries. I will be happy to help. If you know someone from West Bengal who might be benefitted from this scheme, do share this post with them.
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