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The Vidya Lakshmi Scheme is a government initiative in India that offers an integrated platform for students seeking education loans to pursue higher studies. PM-Vidyalaxmi scheme provide students a centralized portal to apply for loans from multiple banks, as well as view eligibility and application criteria.
Table of Contents
PM-Vidyalaxmi Scheme Benefits
PM-Vidyalaxmi Scheme to make higher education more accessible. Collateral-free loans, easy digital applications and interest support.
Quality Education for All
Cabinet approves PM-Vidyalaxmi, a new Central Sector scheme that seeks to provide easy and affordable education loans to meritorious students so that financial constraints do not prevent anyone from pursuing higher studies. Let’s empower our youth and middle class to reach for the stars! No meritorious student will be denied of higher education due to financial constraints.
Read more - Government Funding for Startups in India.
Empowering Students’ Education
Starting FY 2024-25, the Govt. of India has allocated ₹3,600 crore for the period from 2024-25 to 2030-31, supporting 1 lakh students annually, benefiting 7 lakh students by 2031.
High-Quality Institutions List for PM-Vidyalaxmi
Each year, the Dept. of Higher Education will create a list of top institutions eligible for PM-Vidyalaxmi loans, including:
- Top 100 ranked Higher Education Institutions in NIRF rankings (overall/category/domain)
- Top 200 State/UT institutions in NIRF
- All remaining Govt. of India Higher Education Institutions
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Know more about the Startup Loan by Government.
Simple & Transparent Process
A transparent and student-friendly system that will be inter-operable and entirely digital. Simple & digital application format will be used by all Banks. Apply, track and receive loans via the PM-Vidyalaxmi portal!
3% Interest Subvention
Students with family income up to ₹8 lakh per year are eligible for a 3% interest subvention on loans up to ₹10 lakh.
Loans up to ₹7.5 lakh will get 75% credit guarantee, making banks more supportive of your education journey.
Do you know the List of Government Franchises in India.
Vidya Lakshmi Scheme College List
Various prestigious institutions across India are affiliated with the scheme. List of collges by PM Vidya Lakshmi scheme to pursue their education and achieve their academic goals.
| Sr. No. | State | College Name |
|---|---|---|
| 1 | Andaman and Nicobar | DR.B.R. AMBEDKAR INSTITUTE OF TECHNOLOGY |
| 2 | Andhra Pradesh | MAHARAJAHS PG COLLEGE |
| 3 | Arunachal Pradesh | RAJIV GANDHI UNIVERSITY, ITANAGAR |
| 4 | Assam | MANGALDAI COLLEGE |
| 5 | Bihar | DR RAM NARESH SINGH YADAV MAHADALIT DEGREE, COLLEGE-ARWAL |
| 6 | Chandigarh | GOVT POST GRADUATE COLLEGE FOR GIRLS,SECTOR-42 |
| 7 | Chhattisgarh | COLLEGE OF INFORMATION TECH. & APPLIED SOCIAL SCIENCE BILASPUR |
| 8 | Dadra & Nagar Haveli | DR B B A GOVERNMENT POLYTECHNIC |
| 9 | Daman & Diu | GOVERNMENT POLYTECHNIC, DAMAN-658 |
| 10 | Delhi | ZAKIR HUSAIN COLLEGE |
| 11 | Goa | AGNEL POLYTECHNIC, VERNA |
| 12 | Gujarat | SCHOOL OF NURSING Vishvakalyan Society IDAR |
| 13 | Haryana | APEEJAY STYA UNIVERSITY, SOHNA |
| 14 | Himachal Pradesh | SHOOLINI UNIVERSITY OF BIO TECHNOLOGY AND MANAGEMENT SCIENCES, OACHGHAT, SOLAN |
| 15 | Jammu and Kashmir | AHMAD INSTITUTE OF HEALTH SCIENCES |
| 16 | Jharkhand | MAULANA AZAD COLLEGE |
| 17 | Karnataka | THE KARNATAKA STATE DR. GANGUBAI HANGAL UNIVERSITY OF MUSIC AND DRAMA. |
| 18 | Karnataka | AL-AMEEN COLLEGE OF LAW |
| 19 | Kerala | SREE NARAYANA GURU COLLEGE, CHELANNUR |
| 20 | Lakshadweep | CALICUT UNIVERSITY CENTRE, KADAMAT |
| 21 | Madhya Pradesh | MADHYA PRADESH |
| 22 | Maharashtra | SARDAR PATEL COLLEGE |
| 23 | Manipur | CENTRAL AGRICULTURAL UNIVERSITY, IMPHAL |
| 24 | Meghalaya | MAHATMA GANDHI UNIVERSITY, TURA, WEST GARO HILLS |
| 25 | Mizoram | MIZORAM UNIVERSITY, AIZWAL |
| 26 | Nagaland | DIPLOMA (ELECTRONICS & COMMUNICATION ENGINEERING E.C.E)-3YEARS |
| 27 | Odisha | JJARSGUDA BLACK DIAMOND COLLEGE OF ENGINEERING AND TECHNOLOGY, OR BDCET |
| 28 | Puducherry | NATIONAL INSTITUTE OF TECHNOLOGY PUDUCHERRY |
| 29 | Punjab | GRD COLLEGE FOR WOMEN, PHAGWARA |
| 30 | Rajasthan | BHAGWANT UNIVERSITY, AJMER |
| 31 | Sikkim | GANGTOK, RANIPOOL - COLLEGE OF AGRICULTURAL ENGINEERING AND POST-HARVEST TECHNOLOGY |
| 32 | Tamil Nadu | SARAH TUCKER COLLEGE, PERUMALPURAM, PALAYAMKOTTAI - 627 011 |
| 33 | Telangana | GOUTHAMI SAI DEGREE & PG COLLEGE OPP: SHIVALAYAM, MARKANDEYA COLONY, GODAVARIKHANI |
| 34 | Tripura | REGIONAL CENTRE(IGNOU) |
| 35 | Uttar Pradesh | AMITY UNIVERSITY |
| 36 | Uttarakhand | DOON INSTITUTE OF MANAGEMENT & TECHNOLOGY |
| 37 | West Bengal | INDIRA GANDHI TEACHERS TRAINING INSTITUTE |
Who Can Apply for PM-Vidyalaxmi Scheme ?
Any student admitted to a Quality Higher Education Institution can get a loan from banks and financial institutions to cover full amount of tuition fees and other expenses related to the course.
Pm Vidyalaxmi Scheme Amount
As per "PM Vidya Lakshmi" Scheme students can apply for education loans of varying amounts based on courses and educational programs. Typically, banks offer up to INR 10 lakh for studies within India and up to INR 20 lakh for studies abroad. However, the exact loan amount may vary depending on the policies of individual banks. PM Vidya Lakshmi educational scheme streamlines the loan process. It help students to pursue higher education with financial support.
Pm Vidyalaxmi Scheme Apply Online
To apply for the PM Vidya Lakshmi Scheme online, follow these steps:
- Visit the Vidya Lakshmi Portal: Go to https://www.vidyalakshmi.co.in, the official website for the scheme.
- Register on the Portal: Create an account by providing basic details like your name, email address, and mobile number. You will receive a confirmation email to verify your registration.
- Fill Out the Common Education Loan Application Form (CELAF): Log in to your account and fill out this standardized application form, which is accepted by multiple banks.
- Choose Your Bank and Loan Scheme: Select the banks and loan schemes you're interested in. You can apply to multiple banks at once, saving time and effort.
- Submit the Application: Review your application and submit it. Banks will process your application and contact you for further steps if needed.
The portal also allows you to track your application status and view information on various education loan schemes.
