Union Cabinet approves ‘PM Vidyalaxmi’ scheme for students to avail easy loans for higher education
The Hindu
Union Cabinet approves PM Vidyalaxmi scheme providing financial aid to students for quality higher education, benefiting 1 lakh students annually.
Union Cabinet has approved a new scheme PM Vidyalaxmi that provides financial support to meritorious students facing financial constraints that prevent them from pursuing quality higher education.
The Union Cabinet approved the PM Vidyalaxmi scheme for “empowering youth and middle class”, Union Minister Ashwini Vaishnaw said on Wednesday (November 6, 2024).
Any student getting admission in quality higher educational education, and having annual family income up to ₹8 lakh, will be eligible to get 3% interest subvention for education loans up to ₹10 lakh, Union Minister Ashwini Vaishnaw said.
About 1 lakh students will be covered under this scheme every year, he added.
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Union Cabinet approves PM Vidyalaxmi scheme providing financial aid to students for quality higher education, benefiting 1 lakh students annually.
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