Central and state governments have always been bringing welfare schemes for such students who are deprived of higher education due to weak economic condition. Pradhan Mantri Vidyalakshmi Yojana This is also a big step in this direction.
The objective of this scheme is to provide financial assistance to the students for higher education, so that lack of money does not come in the way of their studies. Under the scheme, students Simple process and low interest rates But they get education loan from the bank, so that they can realize their dreams.
When did the plan get approval?
Pradhan Mantri Vidyalakshmi Yojana last year Union Cabinet Approval was given from. This scheme has been specifically designed keeping in mind those students who wish to take admission in institutions of higher education (QHEIs) but are unable to do so due to financial constraints.
The government has ensured that the process of taking a loan under this scheme is not only Easy yes, rather digital Be also. Due to this, students do not have to visit banks again and again for loans.
What facilities are available under PM Vidyalakshmi Yojana?
1. Amount of Education Loan:
- To study in India: Students can take loan up to Rs 10 lakh.
- To study abroad: Loans up to Rs 20 lakh can be given to students.
2. Low Interest Rates:
Students on loan under the scheme low interest rates It is given, which reduces their financial problems.
3. Direct Benefits:
The loan amount is transferred directly to the student’s bank account. Besides, the benefit of subsidy is also transferred directly to the account.
4. Digital Process:
- The process from application to loan approval is complete. Online Is.
- Students have been given the facility to choose the bank as per their need and eligibility on the portal.
5. Interest Subsidy:
- Under the scheme, students are given subsidy on interest.
- This subsidy directly e-voucher Or Central Bank Digital Currency (CBDC) Wallet Is provided through.
Who can apply for PM Vidyalakshmi Yojana?
Following are the eligibility criteria for this scheme:
- Indian Citizenship: The applicant must be an Indian citizen.
- Income Range: The annual income of the family should be within the limit prescribed by the scheme.
- Educational Qualification: The student should take admission in a recognized higher educational institution.
- Bank Account: The student should have a bank account, which is linked to Aadhar card and mobile number.
- Documents: Students must have correct and valid documents.
Application process for PM Vidyalakshmi Yojana
The government has made the application process completely simple and digital for students. Higher Education Department has started a portal for this, where students can easily apply.
Step by Step Process of Application:
- Register on the portal:
- First of all go to Vidyalakshmi portal and register.
- Fill your name, email ID, and mobile number for registration.
- Login:
- After successful registration, login to the portal.
- Fill the form:
- Common Education Loan Application Form (CELAF) Fill it carefully.
- Fill personal information, educational information and financial details in it.
- View Loan Options:
- Check out education loan options from different banks depending on your needs and eligibility.
- Apply for a loan from the bank of your choice.
- Get bank approval:
- After submitting the application, the concerned bank will scrutinize the application.
- After approval, the loan amount will be transferred to your account.
Benefits of Vidyalakshmi Yojana
1. Accessible to all students:
- Financially weak students get help for higher education.
- This scheme is beneficial for students of both rural and urban areas.
2. Level of education increases:
- This scheme encourages students to pursue quality higher education.
3. Loan process simple:
- Due to digital portal, students do not need to visit the bank again and again.
4. Opportunity to study abroad:
- Under the scheme, students pursuing higher education abroad also get financial help.
importance of planning
Pradhan Mantri Vidyalakshmi Yojana not only covers the education expenses of the students but also ensures that no student has to leave studies due to lack of money. the scheme India’s educated future This is an important step towards the construction of.
