PM-Vidyalaxmi Scheme has sanctioned 1,12,817 collateral-free and guarantor-free education loans worth Rs 15,634 crore since its launch in November 2024. Eligible students can also get a 3% interest subsidy on loans up to Rs 10 lakh.

More than 1.12 lakh collateral-free and guarantor-free education loans have been sanctioned under the Centre's PM-Vidyalaxmi Scheme since its launch in November 2024, with the total sanctioned amount crossing Rs 15,634 crore.

According to the latest figures, 1,12,817 PM-Vidyalaxmi education loans had been sanctioned as of July 21, 2026. The scheme was introduced by the Government of India with the aim of ensuring that financial constraints do not prevent meritorious students from pursuing higher education.

Under the scheme, students who secure merit-based admission to eligible Quality Higher Education Institutions (QHEIs) can avail themselves of collateral-free and guarantor-free education loans if they wish to do so.

Interest subsidy available for eligible students