India has launched the Education Loan e Voucher Scheme 2024! This new scheme is super helpful for students who have just finished their class 12th exams. The finance minister, Mrs. Nirmala Sitharaman, introduced this scheme when she talked about the budget for the year 2024-25. Now, students can study in college or university without stressing about money.
With the Education Loan e Voucher Scheme 2024, students can get a loan of up to INR 10 lakh. This means they can pay for higher education in India and follow their dreams. It’s a great chance for all who want to study further!
To apply for this loan, students need to check if they meet all the eligibility conditions. They can easily do this by visiting the official website. After that, they should fill out the online application form.
This scheme is awesome because it helps young minds achieve their goals without the burden of financial issues. So, if you are a student, don’t miss this chance!
Education Loan e Voucher Scheme Objective
The main goal of the Education Loan e Voucher Scheme is to help students who don’t have enough money to study. This scheme gives loans to students so they can continue their education without stress. Students can get a loan of up to INR 10 lakh if they are eligible.
One cool thing about this scheme is the interest rate. The Government of India only charges 3% interest every year. This rate is much lower than what you find in the market. Because of this, students can pay back the money easily and not worry about financial problems.
In total, around 1 lakh students from all over India can get help with money from this scheme. The Education Loan e Voucher Scheme is an awesome chance for students to follow their dreams and keep studying!
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Summary of the Education Loan e-Voucher Scheme
| Name of the scheme | Education Loan e Voucher Scheme |
| Introduced by | Government of India |
| Objective | Provide financial assistance |
| Beneficiaries | Students of India |
| Official website |
Loan Amount and Interest Rate
- The students are eligible to receive INR 10 lakh as the loan amount under the Education Loan e Voucher Scheme 2024.
- The interest rate of 3% per annum will be applicable on the loan amount under the Education Loan e Voucher 2024.
No of Students
- A total of 1 lakh students are eligible to avail the benefits of the Education Loan e Voucher Scheme 2024.
Date of Announcement
- The Education Loan e Voucher Scheme 2024 was announced on 23rd July 2024.
Who Announces Education Loan e Voucher Scheme 2024?
- The finance minister of India Mrs. Nirmala Sitharaman announced the Education Loan e Voucher Scheme 2024.
Eligibility Criteria
- The applicant must be a permanent resident of India.
- The applicant must be a financially unstable student.
Benefits of the Scheme
- With the help of financial assistance under the scheme, students can pursue higher education.
- With the help of annual interest of only 3%, the students can pay back the loan amount easily.
- The students can achieve their dreams and build their careers by getting higher education.
- This scheme will uplift the social status and standard of living of all the students in India.
- A total of students across India are eligible to avail the benefits of this scheme.
Required Documents
- Aadhar Card
- Email ID
- Mobile Number
- Electricity bill
- Address Proof
- PAN Card
Education Loan e Voucher Scheme Application Process
STEP 1: All the applications to clear the eligibility criteria can visit the official website to apply for the Education Loan e Voucher 2024 online.
STEP 2: Once the applicant reaches the home page of the official website the applicant must click on the option apply here.
STEP 3: A new page will appear on your desktop screen the applicant must enter all the details that are asked and attach all the necessary documents on the application form.
STEP 4: After entering all the details the applicant must quickly review it and click on the option submit to complete their process.
FAQs
What is the main objective of launching the Education Loan e Voucher Scheme 2024?
The main objective of launching the Education Loan e Voucher Scheme 2024 is to help students pursue higher education.
When was the Education Loan e Voucher Scheme 2024 introduced?
The Education Loan e Voucher Scheme 2024 was introduced by the finance minister of India during the representation of the fiscal budget 2024-25.
What is the interest rate to be given under the scheme 2024?
The interest rate of only 3% will be given under the scheme 2024.