PM Vidyalaxmi Scheme expands access to higher education with collateral-free loans, interest support

July 30, 2026 5:40 PM

PM Vidyalaxmi Scheme expands access to higher education with collateral-free loans, interest support

The Pradhan Mantri Vidyalaxmi (PM-Vidyalaxmi) Scheme has emerged as a major initiative of the Ministry of Education aimed at making quality higher education more accessible by providing collateral-free and guarantor-free education loans to meritorious students admitted to leading higher education institutions across the country. Complemented by targeted interest subvention for eligible families, the scheme seeks to ensure that financial constraints do not prevent deserving students from pursuing...

Cabinet approves PM Vidyalaxmi scheme for affordable education loans

November 6, 2024 4:00 PM

Cabinet approves PM Vidyalaxmi scheme for affordable education loans

The Union Cabinet has approved the PM Vidyalaxmi scheme, aimed at easing financial barriers for middle-class students pursuing higher education. This initiative enables students admitted to higher education institutions to secure loans without collateral or guarantors, Union Information Minister Ashwini Vaishnaw announced after the Cabinet meeting. Under the PM Vidyalaxmi scheme, up to 100,000 students annually can avail of education loans for their studies. Students from families with an annua...