PM Vidya Lakshmi Scheme 2024: The Central Government of India has taken many initiatives to upgrade many sectors in the country. The government offers various schemes, focusing from women’s empowerment and labourers to financial plans. The Central Government has a scheme that is exclusively for the students. PM Vidya Lakshmi Scheme 2024 strats with an aim to provide higher education for the students from poor financial backgrounds.
Objective of the scheme
The objective of this scheme is to provide quality higher education to the promising youth of the country. The PM Vidyalakshmi scheme will cover more than 22 lakh students from 860 higher institutions in the country. The government will spend Rs 3600 crore during the financial year 2024-25 to 2030-31 on this scheme. Under the PM Vidyalakshmi Yojana, if a student takes a loan of up to Rs 7.5 lakh, then 75% credit guarantee will be provided by the central government.
How to apply?
Apart from this, students coming from families with an annual income of up to Rs 8 lakh will be given 3% interest rebate on loans up to Rs 10 lakh under this scheme. This scheme is an extension of the scheme already given to students of families with an annual income of up to Rs 4.5 lakh. Application for Pradhan Mantri Vidyalakshmi Yojana will have to be done by visiting the Vidyalakshmi Portal https://www.vidyalakshmi.co.in/.
Under PM Shri @narendramodi ‘s leadership, the PM Vidyalaxmi Scheme opens doors for bright students to pursue top institutions with easy, collateral-free loans. Benefiting 22 lakh students yearly, with ₹3600 crore allocated for 2024-31, this initiative paves the way for a… pic.twitter.com/01OOBOcz4z
— Nimuben Bambhania (@Nimu_Bambhania) November 6, 2024
Loans can be taken from many banks under this scheme. Students will be given a loan of up to Rs 10 lakh without any guarantor. For which the government has set a target to benefit about 22 lakh students. Under this, the government has added more than 40 banks to the portal. These banks will give students struggling with financial constraints a chance to fulfill their dreams. To apply for a loan, the student’s name should be according to the 10th class mark sheet. Apart from this, valid mobile number, which can also be of the parents. Provide an email id which cannot be changed later. All information related to the loan will be sent to this email id.