PM Vidyalaxmi Scheme 2024– As we all know time to time the Indian Government introduces various social welfare initiatives in order to provide support to all the needy citizens across the country. Now the Prime Minister of India has come up with and new initiative named PM Vidyalaxmi Scheme 2024 with the intention of providing support and financial assistance to all the students who deserve to get higher education.
According to this scheme all those students who get selected in the Quality Higher Education Institution (QHEIS) will get a collateral and guarantor free loans from the institutions and banks to cover the expenses of education and other fees related to course. All those students who have gotten admission in top quality higher education institutions can visit the Official Website of the scheme and apply online.
About PM Vidyalaxmi Scheme 2024
This PM Vidyalaxmi Scheme 2024 is introduced by the Government of India on 6th November 2024 in the Cabinet meeting. Under this scheme all those students who got admission in the Top Quality Higher Education Institution will get Collateral and Guarantor free loans from the Bank and Educational Institutions. This initiative is applicable to all the High Quality Education Institutions regulated by the NIRF Rankings.
All High Quality Education Institutions whether they are Government or Private both are determined by the top 100 200 Rankings under NIRF. Students who want to get loans up to 7.5 Lakhs then they must have to be eligible for the Credit Guarantee for the 75% amount. All those students who have gotten admission in the top colleges or institutions they can visit the Official Website and avail benefits under this scheme. Applicants need to visit the Official Website to do the registration under this scheme.
Helpful Summary of PM Vidyalaxmi Scheme 2024
| Name of the scheme | PM Vidyalaxmi Scheme 2024 |
| Introduced by | Government of India |
| Objective | Provide Collateral and Guarantor free loans to all the students who have gotten admission in Top Quality Education Institutions. |
| Beneficiaries | Students who have gotten Admission on High Quality Education Institutions. |
| Official website | |
| Financial assistance | Collateral and Guarantor free loans. |
Also Read- pmaymis.gov.in Online Application Form
Objective of PM Vidyalaxmi Scheme
The main objective behind this Prime Minister Vidyalaxmi Scheme is to provide students collateral and guarantor free loans so that they can pursue higher education without worrying about any financial problems or institutions expenses. Under this scheme all those students who will get admission in To Quality Colleges will get loans that are collateral and guarantor free so that they can pursue their education without having any financial problems.
With the implementation of this scheme the students can easily pursue their education while their course fees and other course expenses will handled by the banks and institutions. By getting collateral and guarantor free loans the students can focus on their studies without worrying about the loans. All those students who are interested and are eligible they can visit the Official Website and do registration online by visiting the Official Website of the yojana.
Eligibility Criteria
- Applicant Student must have gotten admission in any Higher Quality Education Institutions determined by the NIRF Rankings under 100 to 200.
- Applicants must be a permanent resident OF India.
- Annual Income of Students must should be more than INR 4.5 Lakhs.
- Applicants whose families annual income is more than INR 8 Lakhs they’ll get a loan up to INR 10 Lakhs on a 3% Interest.
Required Documents
- Aadhar Card
- Educational Institutional ID Proof.
- Income Certificates
- PAN Card
- Marksheets
PM Vidyalaxmi Scheme 2024 Apply Online
STEP 1- All those students who want to apply under this Vidyalaxmi Scheme they they have to visit the Official Vidyalaxmi Website and get register on it by providing their details.
Homepage
STEP 2- Now after registering Students need to click on Login Button and get logged in by entering the User ID & Password.
Login
STEP 3- After that on the homepage of the website you have to click on Apply for Loans option and choose your loan type.
Application
STEP 4- After that the loan Application form will open here you need to enter all the required details asked in the form such as personal information, course information and financial needs details.
STEP 5- Now you have to upload all the required documents such as Income Certificates, Identity Proofs and Marksheets.
STEP 6- At last you need to recheck the application form and verify the details and then click on Submit button.
FAQ’s
What is the main objective behind this PM Vidyalaxmi Scheme ?
Provide Collateral and Guarantor free loans to all the students who have gotten admission in Top Quality Education Institutions.
Who are the beneficiaries under this scheme?
Students who have gotten Admission on High Quality Education Institutions.