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The Prime Minister of India, Narendra Modi, has announced a Students welfare program named PM Vidyalaxmi Education Loan Scheme 2025, under which the government aims to cover all the education fees of those students who have secured admission in 860 Higher Quality Education Institutions that are designated by the National Institutional Ranking Framework (NIRF). Under this initiative, the government will provide collateral-free loans from banking institutions to all the selected students across the nation. All students wishing to apply and get benefits under this initiative can visit the Official Website and register online.
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What is PM Vidyalaxmi Education Loan Scheme 2025
The Prime Minister of India, Shri Narendra Modi, has approved this education welfare initiative called PM Vidyalaxmi Education Loan Scheme 2025 in the Union Cabinet Meeting conducted recently. According to this scheme, The Authorities will cover all the financial expenses and education fees related to the course pursued by the students. All those students who have been admitted to the top 860 Quality Higher Education Institutions listed under the National Institutional Ranking Framework (NIRF) are eligible to register under this initiative.
Selected Students will get guarantor-free and collateral-free loans from banking and financial institutions. Candidates from all income age groups are eligible to apply under this scheme, and there is no upper limit set by the Government for loans.
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PM Vidyalaxmi Education Loan Interest Rate
There is no fixed interest rate under the Vidyalaxmi Education Loan Scheme. Interest Rate will depend on the education requirement and courses selected by the students. Normally the Interest Rates start from 8.40% and can go up to 18% depending upon the courses pursued by the Students.
About Vidyalaxmi Portal
The Central Government has recently launched this PM Vidyalaxmi education loan portal to provide students a safe and easy platform where the candidates can easily apply for this education loan initiative. All those students who are eligible they can simply visit the Official Website and do registration under this scheme. Along with this applicants can easily check the Interest Rate and other required information regarding this scheme.
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Eligibility Criteria
- Students should be permanent citizens of India.
- All the students who have secured their admissions in top 860 Higher Quality Educational Institutions are eligible to apply.
- Students from all income groups are eligible to apply under this initiative.
- Students who are already receiving benefits from other education loan initiatives are not eligible to apply.
Required Documents
- Aadhar Card
- Score Card
- 10th and 12th Marksheet.
PM Vidyalaxmi Education Loan Scheme 2025 Apply Online
STEP 1- Candidates have to visit the Official Vidyalaxmi Portal of this scheme.
STEP 2- On the homepage of website candidates need to click on the Apply Now option.
STEP 3- Now a new page will open with an Application Form and you have to enter all the details required under this form.
STEP 4- After that you have to upload all the required documents with the application form.
STEP 5- After entering all the details and filling the registration form applicants have to click on Submit button.
STEP 6- Now the authorities will review your application and if your are eligible you’ll get benefits.
FAQ’s
Who launched this PM Vidyalaxmi Scheme 2025?
Prime Minister of India Narendra Modi has launched this education loan scheme.
What are the benefits the Government will provide to all the student beneficiaries?
The Government will cover all the education and tuition fees of the selected students by providing them collateral-free and guarantor-free loans.
Who is eligible under this PM Vidyalaxmi Education Loan Scheme?
All those students who have secured admission in the top 860 quality higher educational institutions.