The Central Government has approved the PM Vidyalaxmi Scheme to provide financial assistance to the meritorious students of the country. Under this scheme, education loans will be given to eligible students taking admission to the top 860 prestigious higher education institutes of the country. So that no student is deprived of higher education due to financial constraints. This scheme will guarantee admission to a good college to every eligible youth who used to leave their studies midway due to lack of money. Under this scheme, education loans will be given without any collateral or any guarantee.
If you want to get a loan for higher education by applying under PM Vidyalaxmi Scheme. So today we are going to provide you with complete information related to the scheme. Like how to apply, how much loan will be given, eligibility and benefits, etc. Stay tuned to the article till the end to know more.
PM Vidyalaxmi Scheme 2025
Prime Minister Narendra Modi has launched the PM Vidyalaxmi Scheme to provide higher education to the meritorious students of the country. This scheme has been started on 6 November 2024. Under this scheme, an education loan of Rs 10 lakh will be given to eligible students taking admission in higher education institutes. About 22 lakh students in the country will benefit annually through this scheme by the government.
The Government of India will provide a 75% credit guarantee for loan amounts up to Rs 7.5 lakh, helping banks expand their coverage and support for students. This scheme will provide 3% interest on loans up to Rs 10 lakh for those students whose annual family income is up to Rs 8 lakh. This is in addition to the existing full interest subvention available to students with annual family income up to Rs 4.5 lakh.
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PM Vidyalaxmi Scheme 2025 Details in Highlights
| Name of Scheme | PM Vidyalaxmi Scheme |
| Launched by | Prime Minister Narendra Modi |
| Beneficiaries | For the brilliant students of the country |
| Objective | To provide financial assistance to meritorious students |
| Year | 2025 |
| Mode of Apply | Online |
| Official Website | pmindia |
PM Vidyalaxmi Scheme Objective
The PM Vidyalakshmi Initiative aims to increase access to quality higher education for the youth by expanding the efforts made over the last decade. Under this scheme, education loans will be given without any collateral and any guarantee. This scheme will ease the way for those sons and daughters of the country who leave their studies midway due to financial difficulties.
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Interest subvention support
Every year, interest subvention assistance will be given to one lakh students. Preference will be given to those students who are from government institutions and have opted for technical/professional courses. An outlay of Rs 3,600 crore has been made during 2024-25 to 2030-31 and 7 lakh new students are expected to benefit from this interest subvention.
Benefits & Features Of PM Vidyalaxmi Scheme 2025
- Prime Minister Narendra Modi has launched the PM Vidyalaxmi Scheme to provide higher education to the meritorious students of the country.
- Under this scheme, an education loan of Rs 10 lakh will be given to eligible students taking admission in higher education institutes.
- About 22 lakh students in the country will benefit annually through this scheme.
- The government of India will provide a 75% credit guarantee for loan amounts up to Rs 7.5 lakh.
- This scheme will provide financial assistance to meritorious students so that no one is deprived of higher education due to financial constraints.
- PM Vidyalakshmi is another important initiative of the National Education Policy, 2020.
- This scheme will apply to top-quality higher educational institutions in the country. As determined by NIRF rankings.
- This list will be updated every year using the latest NIRF rankings. It will begin with the first 860 eligible QHEIs.
Eligibility Criteria for PM Vidyalaxmi Scheme
- The applicant student must be a citizen of India
- The annual income of the family of the applicant student should not exceed ₹800000
- The institution where admission is taken for higher studies should be ranked within 100 in the NIRF ranking at all India levels and 200 or within in state ranking. This institution should be the government.
- The government of India will provide a 75% credit guarantee for loans up to Rs 7.5 lakh.
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Required Documents to Apply
- Aadhar card
- PAN card
- Domicile certificate
- Income certificate
- 10th, 12th mark sheet
- Bank account detail
- Mobile number
- Email ID
- Passport size photo
Steps to Apply Online for PM Vidyalaxmi Scheme 2025
1st Step:- First, go to the official website of the PM Vidyalaxmi Scheme. The homepage will open.
2nd Step:- On the website’s home page, click on the apply online option. The application form will open on your screen.
3rd Step:- All the information asked in the application form is to be entered carefully.
4th Step:- Upload necessary documents.
5th Step:- Finally, click on the submit button to complete the application process.
FAQs
PM Vidyalaxmi Scheme has been announced by Prime Minister Narendra Modi on 6 November 2024.
Under this scheme, the government will provide an education loan of Rs 10 lakh to eligible students.
Every year 22 lakh students of the country will get benefits under PM Vidyalakshmi Yojana.
Under this scheme, education loans will be given to eligible students taking admission to the top 860 prestigious higher education institutes of the country.