Breaking Barriers: PM-Vidyalaxmi Scheme Empowers Students

The Indian Union Cabinet has approved the PM-Vidyalaxmi scheme to assist meritorious students financially, ensuring they are not restricted by economic barriers from accessing quality higher education. Loans are collateral and guarantor-free, applicable to students admitted in the top Quality Higher Education Institutions determined by NIRF rankings.

The Indian Union Cabinet has endorsed the PM-Vidyalaxmi scheme, an initiative aimed at offering financial support to talented students, bridging gaps that might hinder their pursuit of superior education opportunities.

According to Union Minister Ashwini Vaishnaw, the scheme facilitates collateral-free, guarantor-free loans, ensuring monetary hurdles do not stand in the way of academic advancement.

Eligibility extends to students admitted to Quality Higher Education Institutions recognized by the National Institutional Ranking Framework (NIRF), covering a vast swath of students eligible to leverage this opportunity.

(With inputs from agencies.)