PM Vidyalaxmi Scheme 2025 is here to help students who want to continue their higher education but face money problems. This government scheme offers financial support to deserving students, making sure that lack of funds doesn’t stop you from studying. The Union Cabinet has approved this helpful scheme.
Overview of PM Vidyalaxmi Scheme
This scheme provides financial help to students admitted to quality higher education institutions in India. You can get education loans without needing to provide any collateral or guarantors, which makes it easier to get funds for tuition and other study expenses.
The scheme was approved by the Union Cabinet and is made to support bright students from all backgrounds. It covers students studying in both public and private colleges following the National Education Policy 2020.
PM Vidyalaxmi Scheme Eligibility Criteria
- Income Certificate: Students from families earning up to Rs. 8 lakhs a year can get a 3% interest subsidy on loans up to Rs. 10 lakhs. Those with family income below Rs. 4.5 lakhs get a full interest subsidy.
- Quality Higher Education Institutions (QHEIs): The scheme applies only to institutions ranked under the National Institutional Ranking Framework (NIRF). This includes all centrally managed institutions, state government HEIs ranked from 101 to 200, and public or private HEIs in the top 100 of overall or category-specific rankings.
- Indian Student: You should be an Indian citizen or resident eligible for admission as per government rules in these quality institutions.
- Education Qualification: Preference goes to students from government schools who are pursuing technical or professional degree courses.
Also see: Prime Minister Internship Scheme
Documents Needed to Apply (Expected)
- Aadhaar Card
- College ID Card
- Income Certificate
- Educational Certificates
- Bonafide Certificate
- Bank Account Details
- Recent Photograph
- Mobile Number
- Email ID
Benefits of PM Vidyalaxmi Scheme
- This scheme offers financial help to deserving students so they won’t stop studying because of money problems.
- It supports students in both public and private higher education institutions across India.
- The simple online application process lets students get education loans without needing collateral or guarantors.
The Union Cabinet has approved PM Vidyalaxmi, a Central Sector scheme providing financial support to meritorious students admitted to India’s top 860 quality higher education institutions.
— Ministry of Information and Broadcasting (@MIB_India)
Number of Students Benefited
- About 22 lakh students can benefit from this scholarship every year.
Institutions Covered
- Initially, 860 top-ranked institutions based on NIRF rankings are included.
- Only high-quality higher education institutions are part of this scheme.
Loan Details and Interest Subsidy
- The Indian government gives a 75% credit guarantee for loans up to Rs. 7.5 lakh to help banks support more students.
- Students from families earning up to Rs. 8 lakhs get a 3% interest subsidy on education loans up to Rs. 10 lakhs.
- Those from families with income below Rs. 4.5 lakhs get full interest subsidy benefits.
Main Features of PM Vidyalaxmi Scheme
- The entire process is digital, simple, and student-friendly.
- There is a 3% interest subsidy on loans up to Rs. 10 lakh.
- Only students from families earning up to Rs. 8 lakh yearly are eligible.
- It is expected to help around 7 lakh new students with a budget of Rs. 3600 crore.
- You can apply and track your application through the unified portal “PM-Vidyalaxmi.”
- Loans are for students admitted to the top 860 higher education institutes in India, covering about 22 lakh students annually.
- The government offers a 75% loan guarantee to support banks lending up to Rs. 7.5 lakh for education.
How to Apply for PM Vidyalaxmi Scheme?
You can apply for the scheme through the Department of Higher Education’s unified portal called PM-Vidyalaxmi. Just follow these simple steps:
Step 1: Visit the official PM Vidyalaxmi scheme website.
Step 2: Click on the “Apply Now” button on the homepage.
Step 3: Fill in your personal details like name, address, email, and phone number.
Step 4: Upload all the required documents.
Step 5: Enter the Captcha code and submit your application form.
More Information and References
Frequently Asked Questions (FAQs)
What is PM Vidyalaxmi Scheme?
It’s a new Central Sector scheme approved by the government that gives financial help to deserving students, so no one misses out on higher education because of money problems.
What benefits does the scheme offer?
Students can apply for education loans easily and get an interest subsidy that lowers their loan burden.
Who can apply under this scheme?
Indian citizens or permanent residents who get admission in quality higher education institutions and meet the income criteria.
What is QHEI?
QHEI means Quality Higher Education Institutions. These are the top-ranked colleges and universities in India based on NIRF rankings and are eligible under this scheme.