Education Loan e Voucher Scheme 2025: During the announcement of the Union Budget for 2024-2025, India’s Union Finance Minister announced a new higher education loan program that will allow many ambitious students to pursue their academic ambitions without financial constraints. The distribution of e-vouchers to one lakh students annually for loans up to ₹10 lakh is expected to help many students pursue further education at local colleges.
An annual interest subvention of 3% of the loan amount will be utilized to pay down the outstanding loan’s interest. The government is offering qualified students up to ₹10 lakh in higher education loans under this program. In this article, we will present you with all of the relevant facts concerning this program.
Education Loan e Voucher Scheme 2025 Details
| Name of the article | Education Loan e Voucher Scheme |
| Announced by | The union finance minister |
| Beneficiaries | The students of the country |
| Benefits | The students will get an e voucher of rupees 10 lakh under this program |
| Year | 2024-25 |
| Application mode | Online |
Education Loan e Voucher Scheme Budget
The program has been established with a massive budget of Rs 36,00 crore to meet the financial needs of students.
Education Loan e Voucher Scheme Eligibility Criteria
The eligibility conditions for applying under this plan are provided below.
- Students must be Indian citizens with permanent residency.
- Students must be willing to continue their study and have finished Class 12.
- Students from underprivileged backgrounds, minorities, and underserved communities will be given priority.
- Family members of the student are not allowed to work for the government or pay income taxes.
- Students with a history of educational loan debt are ineligible.
Education Loan e Voucher Scheme Benefits
The benefits of this program are listed below.
- Students from economically disadvantaged homes and others can apply for education loans of up to ₹10 lakh to further their study at domestic universities.
- When the annual interest rate is set at 3%, students can repay their loan balance with less financial pressure.
- The plan will provide financial aid to one lakh students nationwide each year.
- Students that attend top domestic colleges can achieve their goals. This initiative will improve India’s socioeconomic standing as well as its access to higher education.
Education Loan e Voucher Scheme Required Document
The paperwork required to register under this scheme are listed below.
- Photograph
- Aadhar Card
- PAN Card
- Electricity Bill
- Address Proof/Residence Certificate
- Family Income Certificate
- Educational Documents
- Bank Passbook Details
- Valid e-mail ID and Mobile Number
Education Loan e Voucher Scheme Number Of Students
Under this scheme, the government will provide financial help to around 22 lakh pupils.
Education Loan e Voucher Scheme Educational Institutions Covered
As a result, the government has not provided a list of institutions, although government institutions, as well as technical and professional courses, will be preferred.
Loan Amount and Interest Subvention
Under this plan, the government would provide a loan of Rs. 10 lakh to 12th students who choose to continue their studies at a 3% annual interest rate.
Education Loan e Voucher Scheme EMI Calculator
Education Loan e Voucher Scheme Selection Process
The applicants will be selected under this program using the procedure outlined below.
- The applicant must meet all of the qualifying requirements to receive benefits from this program.
- The applicant must be a permanent resident of India.
How to Apply for the Education Loan e Voucher Scheme?
The government has yet to launch the application portal for the application procedure.
Step 1: Start by visiting the program’s Education Loan e Voucher website. The screen will display the main page of the website.
Step 2: On the webpage, select the “apply here” option. A new page with an application form will appear on your screen.
Step 3: Enter your information, including your name, address, birth date, and age. Upload all required files.
Step 4: Examine the facts provided in detail.
Step 5: Choose to submit immediately. You can apply for the Education Loan e-Voucher program in this way.
Education Loan e Voucher Scheme Important Links
| Official Website | Click Here |
| Home Page | Click Here |