PM Vidya Lakshmi Yojana 2024 – Apply Online

PM Vidya Lakshmi Yojana

PM Vidya Lakshmi Yojana 2024: Friends, today through this article we are going to discuss in detail about PM Vidya Lakshmi Yojana. The goal of the PM-Vidyalakshmi Yojana is to provide financial aid to students pursuing higher education. In this initiative, the central government will grant credit guarantees of up to 75% on education loans of up to Rs 7.5 lakh, allowing students to continue their studies without financial constraints. The PM Vidya Lakshmi Yojana has a budget of Rs 3,600 crore for the period 2024-25 to 2030-31.

Under the PM Vidya Lakshmi Yojana, students will receive a 3% interest discount on an education loan with no guarantee. This discount will be effective on loans up to Rs 10 lakh during the moratorium period, relieving students’ financial burdens and allowing them to conveniently fulfill all of their study expenditures.

In this initiative, the government will also issue a 75% credit guarantee on loans up to Rs 7.5 lakh. Students enrolled in government institutions or pursuing technical and vocational courses will be given special attention. Furthermore, students with a household annual income of up to Rs 8 lakh who are ineligible for any other government scholarship or interest waiver plans would be able to benefit from this scheme. This article will go into greater information about the PM Vidya Lakshmi Yojana.

PM Vidya Lakshmi Yojana Overview

Name of the schemePM Vidya Lakshmi Yojana 2024-25
ObjectiveTo provide financial assistance to students for pursuing higher education.
Ability# Annual family income up to ₹8 lakh.
# Top 850 Institutes in NIRF Ranking.
# 12th passed student.
Loan AmountUp to ₹10 lakh, which includes tuition fees and other expenses.
Credit Guarantee75% guarantee on loans up to ₹7.5 lakh.
Interest Subsidy3% interest subsidy during the moratorium period on loans up to ₹10 lakh.
PriorityPreference will be given to students pursuing technical or professional courses from government institutions.
Application ProcessOnline
Loan ApprovalApproval will be communicated via email or SMS.
Total Budget₹3,600 crore by 2030.

PM Vidya Lakshmi Yojana Eligibility Criteria

To receive the advantages of the Pradhan Mantri Vidyalakshmi Yojana, you must meet certain criteria, which are given below.

22 lakh such students will be selected whose family’s annual income is up to or less than Rs 4.5 lakh.
1 lakh such students will be selected whose family’s annual income is up to ₹ 8 lakh.
12th-passed students can apply in this scheme for further studies.
This scheme’s benefits can be applied to any type of degree or course, and the full application process is now done online.

PM Vidya Lakshmi Yojana Benefits

If you wish to take advantage of the Pradhan Mantri Vidya Lakshmi Yojana, you need to know some vital facts, which is provided below.

This initiative offers a loan of up to Rs 10 lakh for further study.
Loans up to Rs 10 lakh would be available without any guarantee or mortgage.
The government plans to spend Rs 3600 crore on this initiative by 2030.
You will also receive a 3% interest subsidy on the loan.
As soon as you apply online, the funds will be paid to your bank account immediately. This arrangement offers 75% credit guarantee.

PM Vidya Lakshmi Yojana College List

The PM Vidyalaxmi Scheme college list includes the top 860 higher education institutions in India, all of which are listed in the NIRF rankings. This comprises government and private universities, IITs, NITs, and IIMs, internationally renowned colleges listed in the top 100 in several categories, and state government higher education institutions ranked 101-200. This list is revised annually to guarantee that only students from high-ranking, excellent institutions are eligible, hence promoting academic excellence throughout India.

PM Vidya Lakshmi Yojana Required Document

Aadhaar Card
Income Certificate
12th Marksheet
Cast Certificate
PRC Certificate
Bank Passbook

How to Apply for PM Vidya Laksmi Yojana 2024?

If you want to take advantage of this scheme, then you have to follow some important instructions given below-

> Scroll down and go to the Important Links section.

> Click on the “PM Vidya Laksmi Yojana Portal” and complete the registration process.

> Next stage, click on “Online Apply Link” and Login.

> Enter all your personal and educational details and upload the necessary documents.

> Take a printout of the application form.

PM Vidya Laksmi Yojana Important Links Section

PM Vidya Laksmi Yojana PortalRegister | Login
Home PageClick Here

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