You may have noticed that many children want to study but face the challenge of paying their fees. This situation prevents them from pursuing higher education and achieving a successful career. Keeping students in mind, the central  government is running the PM Vidyalakshmi Yojana. This scheme allows eligible students to obtain an education loan without any guarantee or collateral. Interest rebates are also available.

What are the benefits of the PM Vidyalakshmi Yojana?
This is an education loan scheme of the central government.
Under the PM Vidyalakshmi Yojana, you can get an education loan without a guarantor or security.
The government provides a 75 percent guarantee on loans up to ₹7.5 lakh.
The primary purpose of this scheme is to eliminate the problem of students having to interrupt their education due to financial constraints.

Which students will get the benefit?

Students enrolled in NIRF top 100 ranked institutions
Students from state government institutions ranked 101-200
Students enrolled in all central government higher education institutions

How much relief will be available in interest?

Students with annual income up to ₹4.5 lakh can avail interest rebate as per the prescribed rules.
Students from families with annual income between ₹4.5 lakh and ₹8 lakh will be given 3% interest subsidy on loans up to ₹10 lakh during their studies.

How to apply online?

First, visit the official Vidyalakshmi portal pmvidyalaxmi.co.in
Log in after registering a new one
Fill in all the required details in the application form
Upload the required documents
After submitting the form, the application status can be tracked online

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