{"id":368551,"date":"2026-07-30T13:08:20","date_gmt":"2026-07-30T07:38:20","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=368551"},"modified":"2026-07-30T16:42:25","modified_gmt":"2026-07-30T11:12:25","slug":"pm-vidyalaxmi-scheme-2","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/pm-vidyalaxmi-scheme-2\/","title":{"rendered":"PM Vidyalaxmi Scheme"},"content":{"rendered":"<div class=\"content-box-green\">\n<p style=\"text-align: left;\"><strong>News:<\/strong> The Pradhan Mantri Vidyalaxmi Scheme<strong>\u00a0<\/strong>is a flagship initiative of the Education Ministry that seeks to make quality higher education accessible to deserving students facing financial constraints.<\/p>\n<\/div>\n<h2 class=\"red-h2-box\">About PM Vidyalaxmi Scheme<\/h2>\n<figure id=\"attachment_368564\" aria-describedby=\"caption-attachment-368564\" style=\"width: 449px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\" wp-image-368564\" src=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2026\/07\/Source-PIB-10.jpg?resize=449%2C671&#038;ssl=1\" alt=\"PM-Vidyalaxmi Scheme\" width=\"449\" height=\"671\" \/><figcaption id=\"caption-attachment-368564\" class=\"wp-caption-text\">Source &#8211; PIB<\/figcaption><\/figure>\n<ul>\n<li><strong>Background: <\/strong>The <strong>PM Vidyalaxmi Scheme<\/strong> (<strong>PM-Vidyalaxmi<\/strong>) is rooted in the <strong><a href=\"https:\/\/forumias.com\/blog\/national-education-policy-2020-significance-challenges-explained-pointwise\/\">National Education Policy (NEP) 2020<\/a>,<\/strong> underscores the policy\u2019s emphasis on making financial aid available to deserving students in both <strong>public and private<\/strong>\u00a0 quality higher education institutions (<strong>QHEIs<\/strong>).<\/li>\n<li><strong>Approved:<\/strong> The PM Vidyalaxmi Scheme (<strong>PM-Vidyalaxmi<\/strong>) was approved by the Union Cabinet on <strong>6<sup>th<\/sup> November 2024.<\/strong><\/li>\n<li><strong>Aim:<\/strong> It seeks to <strong>provide financial support<\/strong> to <strong>meritorious students<\/strong> so that financial constraints do not prevent anyone from pursuing <strong>higher studies<\/strong>.<\/li>\n<li><strong>Nodal Ministry: Ministry of Education<\/strong><\/li>\n<li><strong>Type: <\/strong>It is a <strong>Central Sector scheme.<\/strong><\/li>\n<li><strong>Financial outlay:<\/strong> The Government has allocated a budget\u00a0of\u00a0<strong>\u20b9<\/strong><strong>\u00a03,600 Crores from 2024-2025 to 2030-2031<\/strong>\u00a0for the scheme.<\/li>\n<li><strong>Features<\/strong>\n<ul>\n<li>The scheme provides <strong>collateral-free and guarantor-free<\/strong>\u00a0education loans for <strong>students<\/strong> admitted on <strong>their own merit<\/strong> to designated\u00a0<strong>QHEIs\u00a0<\/strong>in the country.<\/li>\n<li><strong>Management quota, NRI quota<\/strong>, etc. admissions will <strong>not get this benefit.<\/strong><\/li>\n<\/ul>\n<\/li>\n<li><strong>Benefits:<\/strong>\n<ul>\n<li><strong>Credit Guarantee:<\/strong>\u00a0Loans up to <strong>\u20b9 7.5 lakhs<\/strong> will have a <strong>75% credit guarantee<\/strong> from the Government of India to support banks in offering coverage to more students.<\/li>\n<li><strong>Interest Subvention Benefits:<\/strong>\u00a0For Students with <strong>Annual Family Income<\/strong> up to <strong>\u20b9 8 Lakhs<\/strong>:\n<ul>\n<li><strong>3% interest subvention<\/strong> on loans up to <strong>\u20b910 lakhs<\/strong> during the moratorium period.<\/li>\n<li><strong>Priority for students<\/strong> from government institutions, especially those in technical\/professional courses.<\/li>\n<\/ul>\n<\/li>\n<li><strong>For Students with Annual Family Income up to \u20b9 4.5 Lakhs:<\/strong>\u00a0<strong>Full interest subvention<\/strong> during the moratorium period on <strong>loans up to \u20b9 10 lakhs<\/strong> under PM-USP.<\/li>\n<li><strong>Interest subvention and credit guarantee benefits<\/strong>\u00a0are available\u00a0<strong>only once<\/strong> for undergraduate, postgraduate, or integrated courses.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Eligibility Criteria for Students<\/strong>\n<ul>\n<li>The scheme is available to students who have secured merit-based admission through competitive exams in any of the designated\u00a0<strong>Quality Higher Education Institutions (QHEIs)<\/strong>\u00a0in India.<\/li>\n<li>The scheme provides education loans for all\u00a0<strong>degree and diploma courses.<\/strong><\/li>\n<li>The <strong>repayment period<\/strong> of the education loan would be up to\u00a0<strong>15 years<\/strong>\u00a0excluding the moratorium period (course period + 1 year).<\/li>\n<li>To avail all these benefits, students are required to register through\u00a0<strong>Aadhaar<\/strong>, <strong>remain enrolled<\/strong> in their courses, and maintain a <strong>satisfactory academic performance<\/strong>.<\/li>\n<li>It covers<strong> 1 lakh students annually.<\/strong><\/li>\n<\/ul>\n<\/li>\n<li><strong>Eligibility Criteria for Higher Education Institutions<\/strong>\n<ul>\n<li><strong>Top 100 ranked HEIs<\/strong> in the <strong>overall\/ category-specific and\/or domain-specific rankings<\/strong> in the latest list of <strong>NIRF<\/strong> published by the Ministry of Education<\/li>\n<li><strong>Top 200 ranked HEIs<\/strong> under the <strong>governance of State\/Union Territories<\/strong> governments in the <strong>latest list of NIRF<\/strong> published by the Ministry of Education<\/li>\n<li><strong>All remaining HEIs<\/strong> under the governance of the Government of India.\n<ul>\n<li><strong>Not Covered: Indian campuses of foreign education<\/strong> institutions, <strong>foreign campuses of Indian education<\/strong> institutions and foreign education institutions are <strong>not covered<\/strong> under the scheme.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li><strong>PM Vidyalaxmi Digital Rupee App (CBDC Wallet):<\/strong>\n<ul>\n<li>Once the <strong>loan is sanctioned<\/strong> and <strong>disbursed<\/strong>, eligible students can apply for interest subvention based on their family income.<\/li>\n<li>The <strong>subsidy<\/strong> amount is <strong>credited to<\/strong> the beneficiary&#8217;s\u00a0<strong>PM Vidyalaxmi Digital Rupee App (CBDC Wallet)<\/strong>\u00a0and subsequently transferred to the education loan account.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News: The Pradhan Mantri Vidyalaxmi Scheme\u00a0is a flagship initiative of the Education Ministry that seeks to make quality higher education accessible to deserving students facing financial constraints. About PM Vidyalaxmi Scheme Background: The PM Vidyalaxmi Scheme (PM-Vidyalaxmi) is rooted in the National Education Policy (NEP) 2020, underscores the policy\u2019s emphasis on making financial aid available&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/pm-vidyalaxmi-scheme-2\/\">Continue reading <span class=\"screen-reader-text\">PM Vidyalaxmi Scheme<\/span><\/a><\/p>\n","protected":false},"author":10393,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,956,12039],"tags":[11872],"class_list":["post-368551","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-schemes-and-programs","category-knolls","tag-9pm-daily-factly","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/368551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10393"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=368551"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/368551\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=368551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=368551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=368551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}