The Central Government has taken an important initiative to enable students to pursue higher education. Under ‘Pradhan Mantri Vidyalakshmi Yojana’, it has been announced to provide education loan up to Rs 10 lakh without any guarantee. The scheme aims to help students whose family income is less than Rs 8 lakh per annum.
This scheme will provide education loan up to Rs 10 lakh to 1 lakh students every year.
The government will provide 3 percent interest subsidy on this scheme, which will provide relief to students in taking loans.
The student must take admission in a recognized higher education institute having NIRF ranking of 100 in All India and 200 in the State or within.
The student’s family income should be Rs 8 lakh or less annually.
Government of India will provide 75% credit guarantee for loans up to Rs 7.5 lakh.
application procedure:
Students have to apply online, so that they can apply for the loan as per their requirement. To make the application process simple and easy, verification will be done using mediums like DigiLocker. Candidates for this Vidyalakshmi Portal [https://www.vidyalakshmi.co.in/](https://www.vidyalakshmi.co.in/) You can apply by visiting.
This scheme will provide an opportunity to benefit more than 22 lakh students from 860 premier higher institutions of the country. Pradhan Mantri Vidyalakshmi Yojana will not only open the doors of higher education but will also play an important role in shaping the future of the students.