Common BSCC Loan Status Messages & Their Meaning

You need to understand the common BSCC loan status messages and their meaning to help them track the progress of their application process. To review the status of your Bihar Student Credit Card (BSCC) loan application you can go to the official website, www.7nischay‐yuvaupmission.bihar.gov.in, and use your registration ID, Aadhaar card number, and date of birth to check your application status. For benefits to accrue to beneficiaries, the different statuses are important to understand about BSCC student loan applications and disbursement of funds. This helps candidates to monitor and stay informed to decide their next steps. For instance, a status showing ‘Pending’ indicates that the application has been successfully submitted and is under review.  The Bihar Student Credit Card (BSCC), introduced as part of the MNSSBY program, provides education loans of up to INR 4 lakh to help cover tuition, books, hostel fees, and other education-related expenses. The loan has a multi-tiered approval and disbursement process. This guide outlines the different Bihar Student Credit Card loan status messages and provides meanings of status messages so that BSCC applicants can effectively track their loan status and understanding.

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Common BSCC Loan Status Messages & Their Meaning

The BSCC loan application goes through several steps before a loan is approved and funds are disbursed. Each status message displayed represents where the application stands in the processing cycle. Here are the typical loan status messages and what they mean: 

If the BSCC Loan Status shows ‘Pending’

• The loan application has been successfully submitted and is awaiting review.
• Additional documentation may be requested by the loan application reviewers, if necessary.
• No action has been taken regarding disbursing loan funds at this status.  

If the BSCC Loan Status shows In Progress 

• The loan request is currently being verified through the financial institution.
• The verification process includes but is not limited to, document verification, background checks, and eligibility verification.
• Applicants should check on the status of their loan application and respond to any additional documents requested. 

If the BSCC Loan Status shows ‘Rejected’ 

• The loan application has been denied due to concerns related to incomplete documentation, ineligibility of the applicant, or credit concerns.
• Applicants can review the reason for denial and they may also reapply with the correct and updated information if they are eligible to apply again. 

How to Check Your BSCC Loan Status?

BSCC Loan status can be checked for applicants through the BSCC official portal by accessing the request through holycrossbscc.org, then going to 'Loan Request Status'. Upon doing so the system will provide:

• Requested Loan Amount
• Loan Request Status (i.e. Pending/In Progress/Rejected)
• Loan Amount Approved
• Loan Approval Date
• Disbursement Status

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BSCC Loan Disbursement Process

District Registration cum Counseling Center (DRCC) and upload the sanction letter to fulfil the process within 15 days. Subsequently, both the bank and the DRCC will send an SMS and an email to the applicant, notifying them of a scheduled date to visit the DRCC to collect the Student Credit Card and sanction letter. At that point, the applicant must go to the bank to complete documentation formalities before the loan is disbursed. At the DRCC, the applicant will hand over the necessary documents to the Multi-Purpose Assistant (MPA), who will verify the documents, authenticate any required Aadhaar numbers, and scan any other necessary documents. After documents have been verified by the Assistant Manager (Schemes) and a Third-Party Verification Agency, the applicant will receive the Student Credit Card, along with the sanction letter and attendance instructions for the bank. Once the loan is approved, the disbursement procedures involve: 

• Confirming the Loan Amount & Loan Documents: The Bank confirms that all documents submitted for the loan are satisfactory before disbursing funds.
• Funds Transferred: The loan amount is disbursed directly to the bank account assigned by the student or directly to the educational institution.
• Disbursement Confirmation: The student receives confirmation for the transfer of loan funds. Viewing BSCC Loan Disbursement Information Students can view their disbursement schedule in the portal's Disbursement Details section. The overview will include the expected Payment Date, Amount Disbursed, and Transaction Information.

How to Apply for a BSCC Loan?

The Bihar Student Credit Card (BSCC) loan application process is simple, requiring the applicant to register online and provide basic information. To initiate the BSCC loan application process, applicants need to create an account at the official portal then verify the account, and submit related personal and financial information. Accuracy is imperative for a seamless and smooth approval and release process. Here’s a step-by-step guide to help you understand how to apply for Bihar Student Credit Card smoothly:

• Go to the Official Website: Navigate to 7nischay-yuvaupmission.bihar.gov.in.
• Registration of a New User: Select ‘New Registration’ and provide your Name, Email id, and Mobile Number.
• OTP Verification: Please enter the OTP sent to you through SMS and email which confirms that you are a registered user.
• Login to the Portal: Login with the credentials sent to your email/SMS and change your password after the first login.
• Filling Personal information: Personal information is provided including name, address, education, and financial information.
• Select the Scheme: Selected Scheme, please select 'BSCC' from the drop-down.
• Upload Documents: Uploaded the required documents- Aadhar Card, PAN Card, Proof of Admission Document, Income certificate, Bank statement, etc
• Submission of Application: Once you have verified all the information, application submission will be confirmed. A message confirming the successful submission of the application will be displayed.

List of Documents Required for BSCC Loan

You will need to submit the following documents required for Bihar Student Credit Card Loan: 

• Personal Identification: Aadhar Card, PAN Card (Student & Co-Applicant)
• Educational Documents: Xth & XIIth Mark Sheets and Certificates, Course Admission Letter
• Financial Proof: Last Year's Income Certificate, form 16, Bank Statement (Last 6 Months), Income Tax Returns (Last 2 Years)
• Documents Related to the Loan: Fee structure, Proof of Admission, Scholarship details (if applicable) • Photographs: 2 Passport-sized photographs of the Student, Parents, and Guarantor.

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It is important to understand the common BSCC loan status messages and their meaning so you can better monitor the progress of your application and facilitate the disbursement process. Monitoring the loan status in the loan portal and responding promptly to requests for documentation will help to avoid delays. Once your application results in approval, ensure you meet any bank requirements or the DRCC to receive your Student Credit Card and the loan amount. Knowledge of the various status updates will assist you in taking action to obtain funding for your education on time.

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To learn more about the common BSCC loan status messages and their meaning, call us at 1800-572-9877 or post your questions in CollegeDekho's QnA portal.