India, July 27 -- The Government of India has issued a release:
The Government of India launched the PM-Vidyalaxmi, as a new central sector scheme in November 2024. The main objective of the scheme is to ensure that no student is denied the opportunity to pursue higher education due to financial constraints. Under the scheme, collateral free and guarantor-free education loan is provided to all students who get merit-based admission in top Quality Higher Education Institutions (QHEIs) and who desire to avail the education loan. Further, for students with annual family income up to Rs 8 lakh, the scheme provides 3% interest subvention on loans up to Rs 10 lakh. Each year up to one lakh fresh students not availing any other scholarship or int...