MP Higher Education Loan Guarantee Scheme supports students who find it difficult to get loans for higher studies. Banks usually ask for collateral if the loan amount goes above a certain limit. Many families with low income don’t have land or property to offer as collateral. To help such talented and poor students in Madhya Pradesh, the government, led by Chief Minister Shivraj Singh Chouhan, started the MP Higher Education Loan Guarantee Scheme 2025. This scheme promises that the government will guarantee loans from banks for deserving students so they can pursue higher education without money worries. The Institutional Finance Department manages this scheme. Each year, guarantees can be given for up to 200 student cases under this plan.
MP Higher Education Loan Guarantee Scheme 2025
Under the guidance of Chief Minister Shivraj Singh Chouhan, the government started the MP Higher Education Loan Guarantee Scheme 2025. This scheme makes sure talented students in Madhya Pradesh can get educational loans for higher studies. It is managed by the departments of technical education, medical education, AYUSH, and higher education. Eligible students enrolled in approved courses can get loan guarantees to study in professional and academic fields. The scheme also covers loans for studying abroad. This effort helps bright students from low and middle-income families achieve their dreams of higher education.
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Details of MP Higher Education Loan Guarantee Scheme
| Scheme Name | MP Higher Education Loan Guarantee Scheme |
| Launched By | Madhya Pradesh Government |
| Managing Departments | Technical Education, Medical Education, AYUSH & Higher Education Departments |
| Beneficiaries | Poor students from low-income groups in the state |
| Purpose | To provide loan guarantee for higher education |
| Number of Guarantees | Up to 200 students each year |
| Application Mode | Offline |
| Year | 2025 |
| State | Madhya Pradesh |
Objective of MP Higher Education Loan Guarantee Scheme
This scheme aims to help financially weak students in Madhya Pradesh by assuring banks that the government will guarantee education loans for their higher studies. Thanks to this plan, eligible students with limited means will fulfill their ambitions and build a better future by completing higher education.
Loan Guarantee Allocation by Departments
The number of guaranteed loans is decided by the Finance Department. The scheme includes loans for studying abroad but limits foreign study cases to 20% of total guarantees. The allocation is as follows:
- 100 students studying general education courses will get guarantees.
- 60 students enrolled in technical education will get loan guarantees.
- 40 students pursuing other higher education courses will receive guarantees.
Selection Process for MP Higher Education Loan Guarantee Scheme
- Each managing department forms a screening committee to pick deserving students.
- The committee is led by the department’s Principal Secretary.
- Other members include department heads, directors of institutional finance, and representatives from state-level bankers’ committee.
- The committee checks course quality, institution recognition, family income, admission process, and loan repayment ability before selecting candidates.
- After selection, students get government-backed loan guarantees.
Benefits and Highlights of MP Higher Education Loan Guarantee Scheme 2025
- Started to support low-income students with education loans.
- Guarantees for up to 200 students each financial year.
- Managed by Technical, Medical, AYUSH and Higher Education departments.
- Includes loans for studying abroad under set limits.
- Targets talented students from poor families in Madhya Pradesh.
- Loan beneficiaries can complete higher education without money worries.
- This plan helps increase education opportunities in the state.
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Eligibility Criteria for MP Higher Education Loan Guarantee Scheme
- Applicant must be a permanent resident of Madhya Pradesh.
- Only students from the state qualify.
- Beneficiaries should come from low middle-income or below poverty line families.
- The annual family income should not be more than ₹5 lakh from all sources.
Required Documents
- Aadhar Card
- Income Certificate
- Residence Certificate
- Caste Certificate
- Educational Qualification Certificate
- Passport Size Photograph
- Bank Account Details
- Mobile Number
How to Apply for MP Higher Education Loan Guarantee Scheme 2025
- First, talk to your college principal about the scheme.
- Gather all required documents for your loan application.
- Visit the bank with documents to apply for the education loan under this scheme.
- Apply separately for collateral security if needed.
- Your application form and documents will be sent to the nodal officer through the bank.
- The screening committee will review your application carefully.
- If approved, you will get a government guarantee for your education loan.
- This way, you can use the scheme and achieve your higher education goals.