PM Vidyalakshmi Yojana 2024 Apply Online: The Modi cabinet has given a new gift for students getting financial assistance for higher education—PM Vidyalakshmi Yojana 2024. The objective of this PM Vidyalakshmi Scheme 2024 is to provide financial assistance to those students who want to pursue higher education but are left behind due to financial problems. Under this PM Vidyalakshmi Yojana 2024, eligible students will be given education loans and other financial benefits at low interest rates, so that they can fulfill their educational dreams. Let us know which students can avail this scheme and PM Vidya Lakshmi Scheme Registration 2024 & what are the PM Vidya Lakshmi Yojana Eligibility 2024.
The Union Cabinet chaired by Prime Minister Narendra Modi has approved the PM Vidyalakshmi Yojana 2024. Its purpose is that the financial problems of the students should not become an obstacle in their dreams of higher education. One special thing is that the scheme is not just about bearing the cost of studies, but it has been ensured that the students can take a loan from the bank without any guarantee, so that there is complete freedom in studies.
PM Vidyalakshmi Yojana 2024 Overview
This vidyalakshmi.co.in Yojana 2024 will work in conjunction with the already implemented PM-USP CSIS scheme, which will give students an opportunity to study without interruption. So let’s know what is so special in PM Vidyalakshmi Yojana.
| Scheme Name | Vidya Lakshmi Education Loan Yojana |
| Objective | To provide financial support for higher education without financial burden |
| Eligibility | Students admitted to Quality Higher Education Institutions (QHEIs) as per NIRF rankings |
| Loan Amount | Up to ₹10 lakh |
| Credit Guarantee | 75% for loans up to ₹7.5 lakh |
| Family Income Limit | Up to ₹8 lakh annually |
| Interest Subsidy | 3% for loans up to ₹10 lakh during moratorium period |
| Preferred Students | Government institution students in technical/professional courses |
| Funding Period | 2024-25 to 2030-31 |
| Annual Budget | ₹3,600 crore |
| Application Portal | PM-Vidyalaxmi unified portal |
Objective of the Pradhan Mantri Vidya Lakshmi Scheme 2024
PM Vidyalakshmi Loan Yojana has been brought for those students who want to study in top quality higher education institutions, but stop due to financial difficulties. The main goal of this PM Vidyalakshmi Yojana is that eligible students get a loan for studies without any guarantee and the expenses of studies should not be a problem for them.
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PM Vidya Lakshmi Yojana Eligibility 2024
- Under this PM Vidya Lakshmi Yojana, those students are eligible who have got admission in Quality Higher Education Institutions (QHEIs). This list includes the top 100 higher education institutions in the country’s NIRF ranking, whether they are private or government.
- Apart from this, those institutions run by the state and central government, whose ranking in the NIRF ranking is between 101 to 200, will also be considered eligible.
PM Vidya Lakshmi Scheme Loan Amount 2024
Under this scheme, students can get a loan of up to ₹ 10 lakh, in which a loan of up to ₹ 7.5 lakh will also get the benefit of 75% credit guarantee. That is, if there is a problem in repaying the loan, then this is a kind of security for the bank, so that the bank can also give loan easily.
Who will get the benefit of PM Vidya Lakshmi Yojana interest subsidy?
- Students whose annual family income is up to ₹ 8 lakh and who are not beneficiaries of any other government scholarship or interest subsidy scheme will get 3% interest subsidy.
- Students pursuing technical and professional courses will be given priority.
- For this, the government has allocated a budget of ₹ 3,600 crore from the year 2024-25 to 2030-31. Every year one lakh students will get the benefit of this interest subsidy.
How to Apply for PM Vidya Lakshmi Yojana 2024?
An integrated portal of PM Vidyalakshmi will be made available for the students. From here students will be able to easily apply for both education loan and interest subsidy. All banks will use this Vidyalaxmi portal, which will simplify the vidyalakshmi.co.in online application process.
What are the benefits of the Prime Minister Vidya Lakshmi Scheme?
- No guarantee: Students will not need any guarantor or guarantee for the expenses of studies.
- 75% credit guarantee: If students take a loan of up to ₹ 7.5 lakh and are unable to repay, the government will give 75% guarantee.
- 3% interest subsidy: Students whose family income is less than ₹ 8 lakh will be given 3% interest subsidy on the loan, so that the burden of loan can be reduced.
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PM Vidya Lakshmi Yojana College List 2024
- Govt. Post Graduate College of Girls in Chandigarh
- College of Information Technology in Bilaspur
- Dr BBA Polytechnic In Dadra
- Govt. Polytechnic in Daman and Diu
- Zakir Husain College in Delhi
- Dr. BR Ambedkar Institute of Technology in Andaman and Nicobar
- Maharajas PG College in Andhra Pradesh
- Rajiv Gandhi University, Itanagar
- Mangaldai College in Assam
- Dr Ram Naresh Singh Yadav Mahadalit Degree College in Bihar
- Dr Gangubai Hangal University of Music in Karnataka
- Al Ameen College of Law in Karnataka
- Sree Narayana Guru College in Kerala
- Calicut University Centre in Lakshadweep
- Sardar Patel College in Maharashtra
- Agnel Polytechnic in Goa
- School of Nursing in Gujarat
- Apeejay Stya University in Haryana
- Shoolini University of Biotechnology in HP
- Ahmad Institute of Health Science in J&K
- Maulana Azad College in Jharkhand
- Central Agricultural University Imphal
- Mahatma Gandhi University in Meghalaya
- Mizoram University in Mizoram
- Jharsuguda Black Diamond College of Engineering and Technology in Odisha
- National Institute of Technology in Puducherry
- GRD College For Women, Phagwara in Punjab
- Bhagwant University In Ajmer
- Gangtok College of Agricultural Engineering in Sikkim
- Sarah Tucker College in TamilNadu
- Gouthami Sai Degree 7 PG College in Telangana
- IGNOU Regional Centre in Tripura
- Amity University in UP
- Doon Institute of Management & Technology in Uttarakhand
- Indira Gandhi Teachers Training Institute in West Bengal.
Why is this vidyalakshmi.co.in Yojana special?
vidyalakshmi.co.in Yojana is an effort by the government, which shows how much the government cares about the education of the students. Through the vidyalakshmi.co.in Scheme, the youth of the country are being given a chance to move forward without any financial hindrance.
Will this Vidya Lakshmi Scheme 2024 useful for the students?
Through this scheme, the government is ensuring that no student faces any problem in taking a loan for studies. But the thing to think about is whether all the students will be able to take advantage of this scheme? For this, it is important that the students get the right information and they can apply easily.
If seen, this Vidya Lakshmi Scheme 2024 is like a boon for the students, but it also has to be kept in mind that this scheme is implemented properly and can reach all the students.
Conclusion
PM Vidyalakshmi Yojana 2024 is a step towards those youth of India, who dream of getting higher education, but they are left behind due to financial problems. Through this vidyalakshmi.co.in Loan Yojana 2024, students can complete their studies without any financial burden. So, if you also want to fulfill your education dreams and meet the eligibility criteria of PM Vidyalakshmi Yojana 2024, then do not miss this opportunity.
FAQs:
What is Vidya Laxmi portal?
Government launched PM Vidyalakshmi scheme for higher education. This scheme will provide financial assistance to the students studying in quality institutions. Under the scheme, students will get loans for tuition fees and other expenses without any guarantee or collateral
What is the objective of Vidya Laxmi Scheme 2024?
This scheme provides loans to those students whose income is less than Rs 8 lakh.
What is the loan amount under Vidya Laxmi Scheme 2024?
Under Vidya Lakshmi Scheme 2024, you can get an amount up to Rs 10 lakh with 3% interest.