There is great news for the economically weak students of the country. Actually, Modi government has started a very special scheme to provide education loan to students, whose name is Pradhan Mantri Vidya Lakshmi Yojana. Under this scheme, the Government of India is giving an education loan of Rs 10 lakh to students from families with an annual income of Rs 8 lakh or less.
Under this scheme, the government will give interest subsidy of three percent on the loans given to the students. The benefit of this scheme will be available to those students who want to pursue higher education. The objective of Pradhan Mantri Vidya Lakshmi Yojana is to remove the financial difficulties faced by the poor students of the country while pursuing higher education. Let us know who is going to get the benefit of this scheme.
This is the beneficiary category of the scheme
The main objective of Pradhan Mantri Vidya Lakshmi Yojana is to provide financial assistance to economically weaker students in pursuing higher education. Under this scheme, those students whose annual family income is less than Rs 8 lakh will get benefits. This scheme is specially designed for those students who take admission in high quality educational institutions.
Loan amount and interest subsidy
Under this scheme, eligible students can get an education loan up to Rs 10 lakh. Apart from this, if the family income of a student is up to Rs 4.5 lakh, they will get complete interest subvention on this loan. Other students will be given three percent interest subsidy on loans up to Rs 10 lakh, which will be borne by the Central Government.
priority students
Under the scheme, priority will be given to those students who are pursuing technical or professional courses in government institutions. Along with this, about one lakh students are expected to get the benefit of this interest subvention every year. If the number of students applying is less than one lakh, then all eligible students will get the benefit.
Application Process and Qualifications
Students will have to apply online by visiting PM Vidya Lakshmi portal. For this, they will have to fill the Common Education Loan Application Form and search for the education loan as per their needs and apply. Thus, those economically weaker students will get the benefit of PM Vidya Lakshmi Yojana. Whose annual income is less than Rs 8 lakh and who take admission in high quality educational institutions.
Education Loan Information:
Calculate Education Loan EMI