Himachal Pradesh Expands Educational Loan Scheme for Overseas Studies

The Himachal Pradesh Cabinet has expanded the Dr YS Parmar Vidyarthi Rin Yojna to include overseas education. This allows students to access educational loans of up to Rs 20 lakh at one percent interest for professional and vocational courses abroad. A detailed SOP will be released soon.

The Himachal Pradesh Cabinet has approved an expansion of the Dr YS Parmar Vidyarthi Rin Yojna to benefit students seeking overseas education, Chief Minister Sukhvinder Singh Sukhu announced on Sunday. Detailed standard operating procedures (SOP) will be issued soon to operationalize the changes.

The state cabinet's decision extends the scheme, which previously offered educational loans of up to Rs 20 lakh at one percent interest for eligible students pursuing professional and vocational courses, to now cover overseas institutions.

This initiative aims to ensure that financial limitations do not hinder students from pursuing higher education abroad. Sukhu emphasized the government's commitment to providing quality education to all youth, regardless of financial background. He also noted that a grievance redressal officer will be appointed to address students' concerns, ensuring the scheme's effective implementation.

(With inputs from agencies.)