On June 30, 2021, the Chief Minister of West Bengal, Mamata Banerjee, unveiled a new initiative aimed at benefiting the state’s students. This program has been designated as the WB Student Credit Card Scheme, with a specific focus on providing financial aid to students residing in West Bengal.
The program has been accessible since its official announcement and is set to be administered by the Department of Higher Education, Government of West Bengal. Under this initiative, the government has introduced financial assistance in the form of loans, extending up to Rs.10 lakhs at an annual interest rate of 4%, targeting students who face financial constraints that hinder them from pursuing higher education or competitive exam coaching. The support is directed towards students who have been residents of West Bengal for the past ten years, enabling them to pursue advanced educational opportunities.
WB Student Credit Card Scheme
The loan under this scheme is extended to applicants by various financial institutions, including District Central Cooperative Banks (DCCB), State Cooperative Banks (SCB), Central Cooperative Banks (CCB) affiliated with them, as well as Public Sector and Private Sector Banks operating within the state of West Bengal.
Given that this program is relatively new, many students may not be familiar with its specifics. West Bengal students seeking comprehensive details about the scheme can refer to this article. Here, we have furnished all the essential information, encompassing the scheme’s objectives, the registration process, eligibility criteria, necessary documents, benefits, and more.
WB Student Credit Card Scheme: Quick Overview
| Name of the scheme | Student Credit Card Scheme |
| Category | Scheme |
| Concerned Authority | Department of Higher Education, Government of West Bengal |
| Date of launch | 30th June 2021 |
| Benefit | Loan of upto ten lakhs at a low interest rate |
| Beneficiary | Students of West Bengal |
| Mode of disbursement | Direct Bank Transfer (DBT) |
| Repayment Period | 15 years |
| Official website | wbscc.wb.gov.in |
Features and Key Points of the WB Student Credit Card Scheme
The WB Student Credit Card Scheme is exclusively applicable to students residing in West Bengal.
Under this scheme, eligible students can access a maximum loan amount of 10 lakhs at a fixed annual interest rate of 4%. The interest rate, once determined at the time of loan approval, remains constant throughout the loan tenure.
Beneficiary students have the flexibility to utilize the loan amount for various purposes, including paying tuition fees, covering living expenses, securing accommodation at their educational institution, purchasing study materials, laptops, tablets, funding project work, and supporting study tours.
This scheme is operational in both government and private educational and coaching institutions, expanding its accessibility to a wider range of educational pursuits.
To benefit from this loan scheme, students must meet the eligibility criteria and complete the application process. Importantly, students can access the loan at any point during the course.
The State Department of Higher Education oversees the execution and application procedures of this scheme. Applications received by the department are forwarded to the respective banks for loan approval.
Upon approval, students are issued a credit card by the bank to facilitate the utilization of the loan.
To maintain the loan and access further disbursements, students are required to submit progress reports or statements after completing each annual or semester examination.
Disbursement of loans is conducted through direct bank transfers to the student’s designated bank account.
Eligibility Criteria for WB Student Credit Card Scheme
Under the WB Student Credit Card Scheme (WB SCCS), benefits are exclusively offered to eligible candidates. It is crucial for students to carefully assess the eligibility criteria before initiating the application process. The eligibility requirements are as follows:
- Residency in West Bengal: Applicants must have been residing in West Bengal for the preceding ten years.
- Enrollment in Higher Studies: Students must have successfully enrolled in one of the specified higher education programs. Additionally, students participating in coaching programs for prestigious institutions such as IITs, NITs, NLUs, AIIMS, IIFTs, and similar institutions are also eligible.
- Age Limit: The applicant’s maximum age at the time of application should not exceed 40 years.
Meeting these eligibility criteria is essential to qualify for the WB Student Credit Card Scheme and access its associated benefits.”
Documents Required for Registration
To apply for the WB Student Credit Card Scheme (WB SCCS), students and co-borrowers must provide the following documents:
- Applicant’s Photograph
- Photograph of the Co-borrower/Co-applicant
- Signature of the Student
- Aadhaar Card of the Student
- Student’s Class 10th Registration Certificate (if the Aadhaar card is not available)
- PAN Card of the Student
- Address Proof of the Co-borrower
- PAN Card of the Co-Borrower
- Admission Receipt of the Institute where the Candidate is Enrolled
How to Register for the WB Student Credit Card Scheme?
To register for the WB Student Credit Card Scheme, follow these steps:
- Visit the Official Website: Go to the official website of the WB Student Credit Card Scheme, or the official website of the Department of Higher Education, Government of West Bengal.
- Registration Process: Look for the ‘Registration’ or ‘Apply Now’ section on the website.
- Read Guidelines: Before proceeding, carefully read the guidelines and eligibility criteria to ensure that you meet the requirements.
- Create an Account: If required, create an account or log in to your existing account on the registration portal.
- Fill in Application: Complete the application form with accurate and detailed information. Provide personal details, educational information, and any required financial information.
- Upload Documents: Upload all the necessary documents, such as photographs, Aadhaar card, PAN card, class 10th registration certificate, address proof, and other relevant documents.
- Review Application: Double-check all the information and documents you’ve provided to ensure accuracy.
- Submit Application: After verifying the details, submit your application.
- Application Processing: Once submitted, your application will undergo a review process by the concerned authorities.
- Approval and Disbursement: If your application is approved, you will be informed about the loan approval and disbursement process. You may be required to visit the bank for further formalities.
- Utilize the Credit Card: After the loan approval, you will receive a credit card to access the sanctioned loan amount.
- Repayment: Ensure you adhere to the repayment terms as per the loan agreement.