The Government of India has approved PM-Vidyalaxmi scheme to provide financial support to meritorious students so that financial constraints do not prevent any youth of India from pursuing quality higher education. A special loan product has been introduced to enable for collateral free, guarantor free education loans to meritorious students who get admission in the top 860 quality higher educational institutions of the nation; made accessible through a simple, transparent, student-friendly and entirely digital application process. Furthermore, for students with up to Rs. 8 lakhs annual family income, the scheme will also provide for 3% interest subvention on loans up to Rs 10 lakh.

The list of 860 quality higher education institutions is at: https://dashboard.aishe.gov.in.

PM-Vidyalaxmi is a Unified Portal for the students to apply for education loan provided by scheduled commercial banks, co-operative banks, RRBs & private banks and submit application for Educational Loan & Interest Subvention.

The complete information and details about the scheme are available at PM Vidyalaxmi portal https://pmvidyalaxmi.co.in/.