PM Vidyalaxmi Scheme 2025 is a very helpful education loan plan started by the Indian government. This scheme is for students like you who want to study more after school but are worried about money. Under this scheme, you can get a loan without giving any property or finding a guarantor. That means, even if your family doesn’t have much money, you can still go to a good college or university.
PM Vidyalaxmi Scheme makes it easy for students to study in top colleges in India by offering loans up to ₹10 lakh. Families earning up to ₹8 lakh per year can get a 3% interest subsidy. Also, for loans up to ₹7.5 lakh, the government gives a 75% guarantee so that banks do not hesitate to give the loan. With this help, lakhs of students can now follow their dreams without worrying about paying fees.
How to Apply Online for PM Vidyalaxmi Scheme
PM-Vidyalaxmi is a unified portal for students for applying education loan in any scheme of member banks including PM-Vidyalaxmi scheme.
STEP 1: Go to the official of PM Vidyalaxmi scheme website.
STEP 2: Click on the ‘Student Login’ button you will find on the homepage.
STEP 3: Then Click on “Create an Account” and Fill in your personal details like name, email ID, and mobile number.
STEP 4: Upload all the required documents such as your Aadhaar card, marksheets, and admission letter.
STEP 5: Enter the Captcha code and click on Submit to complete your application.
Also Check – PM Vidhya Laxmi Scheme Eligibility
Important Details of PM Vidyalaxmi Scheme
This scheme is based on the National Education Policy and made to help students from poor and middle-class families go for higher education. You can get many benefits under this scheme. Below is everything you should know:
| Scheme Name | PM Vidyalaxmi Scheme |
| Launched By | Government of India |
| Loan Amount | Up to ₹10 lakh |
| Loan Type | No collateral, no guarantor needed |
| Credit Guarantee | 75% on loans up to ₹7.5 lakh |
| Interest Subsidy | 3% for families earning up to ₹8 lakh |
| Special Subsidy | 100% interest subsidy for income below ₹4.5 lakh |
| Application Mode | Online |
| Expected Students Benefiting | 22 lakh per year |
| Budget | ₹3600 crore |
| Official Website | https://pmvidyalaxmi.co.in |
Eligibility Criteria for PM Vidhyalaxmi Scheme:
- You must be an Indian citizen
- You must have passed Class 12
- You must have admission in a listed quality higher education institution
PM Vidhyalaxmi Documents List:
- Aadhaar Card
- Email ID and Mobile Number
- Class 11 and 12 marksheets
- Admission Letter from the college
- Address Proof
- Bank Account Details
- Passport Size Photograph
Main Features of the Scheme:
- Digital application process through a student-friendly platform
- Loans up to ₹10 lakh with 3% interest subsidy for middle-income families
- Full interest subsidy for families earning up to ₹4.5 lakh
- Government gives banks 75% loan guarantee up to ₹7.5 lakh
- 860 top government and private colleges included
- Helps students from both public and private institutions
Which Colleges Are Covered?
This scheme includes all top 100 colleges and universities listed under NIRF (National Institutional Ranking Framework) — whether in overall, category-wise, or domain-wise rankings. It also includes state institutions ranked 101–200 and all centrally managed NIRF-listed institutions.
Selection Process:
- Only students who meet all eligibility rules can apply
- You must be admitted to one of the listed institutions under this scheme
Who Will Benefit?
Every year, about 22 lakh students are expected to benefit. Among them, 1 lakh students will get help through interest subsidies. Special priority will be given to students who are studying technical, engineering, or professional courses in government institutions.
AICTE Chairman Prof. @SITHARAMtg praised the Cabinet’s approval of the PM Vidyalaxmi scheme as a game-changer, making sure no deserving student is held back by money issues while pursuing higher education. pic.twitter.com/eKj8KlNTaP — AICTE (@AICTE_INDIA) November 6, 2024
Union Cabinet has approved PM Vidyalaxmi, a new Central Sector scheme, to provide financial help to meritorious students admitted in India’s top 860 quality higher education institutions. This scheme makes sure money problems don’t stop any deserving student from getting quality higher education. pic.twitter.com/xD30q6e17O — Ministry of Information and Broadcasting (@MIB_India) November 6, 2024
Useful Links:
Contact Information:
Toll-Free: 1800 1031
Email: support@pmvidyalaxmi.co.in
FAQs
What is PM Vidyalaxmi Scheme?
This is a government loan scheme that helps students pay for higher education by giving easy and low-interest loans without needing any property as security.
Who can apply?
Indian students who have passed Class 12 and got admission in top colleges listed in the scheme.
Is online application available?
Yes, the full application process will be online through the PM-Vidyalaxmi portal once it is live.