Pm Vidya Laxmi Scheme: Many students across the country will get the benefit of Pradhan Mantri Vidya Lakshmi Yojana.

There is great good news for the economically weaker students of the country. Actually, the Modi government has started a very special scheme to provide education loan to the students, named Pradhan Mantri Vidya Lakshmi Yojana. Under this scheme, the Government of India is giving an education loan of Rs 10 lakh to the students of the family with an annual income of Rs 8 lakh or less.

Under this scheme, the government will give an interest subsidy of three percent on the loan given to the students. The benefit of this scheme will be given to those students who want to pursue higher education. The objective of Pradhan Mantri Vidya Lakshmi Yojana is to overcome the financial difficulties faced by the poor students of the country while pursuing higher education. Let us know who is going to get the benefit of this scheme.

This is the beneficiary class of the scheme

The main objective of Pradhan Mantri Vidya Lakshmi Yojana is to provide financial assistance to economically weaker students in pursuing higher education. Under this scheme, those students will get benefit whose annual family income is less than eight lakh rupees. This scheme is specially designed for those students who take admission in high quality educational institutions.

Loan amount and interest subsidy

Under this scheme, eligible students can get education loan up to Rs 10 lakh. Apart from this, if the family income of a student is up to Rs 4.5 lakh, then they will get full interest exemption on this loan. Other students will be given a subsidy of three percent interest on loans up to Rs 10 lakh, which will be borne by the central government.

Priority students

Under the scheme, priority will be given to those students who are pursuing technical or vocational courses in government institutions. Along with this, about one lakh students are expected to get the benefit of this interest waiver every year. If the number of students applying is less than one lakh, then all eligible students will get its benefit.

Application process and eligibility

Students have to apply online by visiting PM Vidya Lakshmi Portal. For this, they will have to fill the Common Education Loan Application Form and search for education loan as per their needs and apply for it. Thus, the PM Vidya Lakshmi Yojana will benefit those economically weaker students whose annual income is less than Rs 8 lakh and who take admission in high quality educational institutions.