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

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