PM Vidyalakshmi Scheme: Loans up to Rs. 7.5 lakh | Check Details

In a significant decision, the Union Cabinet chaired by Prime Minister Narendra Modi has approved the PM Vidyalakshmi scheme.

PM Vidyalakshmi scheme aims to ensure that talented students do not miss out on quality education due to financial constraints.

PM Vidyalakshmi scheme Key Highlights:

• Loan Facility: The government will provide loan facilities to students who get admission in 860 quality higher education institutions.
• Loan Amount: Loans up to Rs. 7.5 lakhs will be provided.
• Government Guarantee: The central government will provide a 75% credit guarantee through this scheme.
• Beneficiaries: Approximately 22 lakh students are expected to benefit from the PM Vidyalakshmi scheme annually.

Purpose of the PM Vidyalakshmi Scheme:

The primary objective of the PM Vidyalakshmi scheme is to provide financial assistance to meritorious students from economically weaker sections, enabling them to pursue higher education in prestigious institutions. By offering loans with a government guarantee, the scheme aims to reduce the financial burden on students and their families.

Benefits of the PM Vidyalakshmi Scheme:

• Accessibility to Higher Education: The scheme will make higher education more accessible to students from all socioeconomic backgrounds.
• Reduced Financial Burden: The government guarantee will help students secure loans at lower interest rates, reducing their overall financial burden.
• Quality Education: The scheme focuses on providing loans for admissions in quality higher education institutions, ensuring that students receive a quality education.

Published date : 08 Nov 2024 10:36AM