PM Vidya Lakshmi Education Loan Yojana: The Central government has upgraded the Vidya Lakshmi program in the new Cabinet meeting on 14 May 2025. The cabinet minister Ashwini Goyal informed about the new implementation of PM Vidya Lakshmi education loan Yojana 2025 where students can get up to 10 lakh education loan without any guarantor.
So if you are also one of those student want to continue the education but facing the financial crisis in the family then you can apply for PM Vidya Lakshmi loan scheme and pay the Annual fees cause of the course to continue your education.
Pm Vidya Lakshmi Education loan Yojana
Students can receive financial assistance for their higher education through the PM Vidya Lakshmi Education Loan program. It offers loans up to ₹10 lakh without needing collateral or a guarantor. Students must be admitted to recognized institutions. The scheme aims to assist around 22 lakh students each year. For loans up to ₹ 7.5 lakh, banks will receive a 75% credit guarantee. Families earning up to ₹8 lakh can get a 3% interest discount during the loan moratorium. The government has set aside ₹3,600 crore for this initiative from 2025-26 to 2030-31. The focus is on technical and professional courses. This scheme makes education more accessible and affordable for many students in India.
Benefits of the Program
- The program will allow brilliant students to continue their higher education in reputed colleges in the country.
- Students can apply for maximum 1000000 rupees educational loan in this program. which can be used to pay the course fees, admission fees, hostel fees and other maintenance.
- While banks are providing with higher interest rates, government will allow students with 3% subsidiary in interest. So you can get a very little interest rate in this program
- However you the family is earning less than 4.5 lakh annually then government will allow interest free loan to the student in this program
- Government is targetting large number of students and aiming to provide education loan for up to 22 lakh students, But only one lakh students will get opportunity to apply in education loan per year in this program
- Students are not required to provide any guarantor for this program and they also not need to submit any collateral against the loan amount
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Eligibility Criteria: PM Vidya Lakshmi Education Loan Yojana
It is important to check the following eligibility criteria before applying the loan under the Vidya Lakshmi Yojana in 2025:
- Only Indian students who are currently living and studying in Indian Institute and colleges are eligible to apply for PM with the Lakshmi education loan program.
- The minimum age of the student should be at least 18 years old
- The annual family income of the student should be less than 800000 to be eligible for applying in this program
- It is important to take admission in top 100 NERF Institute or colleges in the country and top 200 colleges in state level.
- However you can apply for different programs and courses but the government is currently preferencing technical courses.
- The applicant should not avail other benefits from State government or Central government including scholarship or any other financial help.
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How to Apply for Vidya Lakshmi Education loan
The government has started a separate online portal on the Internet where you can apply for Pradhanmantri Vidya Lakshmi education loan Yojana 2025 by following these steps:
- Visit to the official website of Pm Vidya Lakshmi education loan. This is direct link of the website https://www.Vidya Lakshmi.co.in/
- Now you will reach on the new page where you have to click on the apply now section on the top of this screen
- Complete the registration form to login on the dashboard by providing your name, mobile number and email ID, so you can create user id and password for login
- After that you will reach on the application page on the dashboard where you need to provide your personal information, educational details, parent information, income criteria etc.
- Now you need to upload you documents including Aadhar card, pan card, passport size photograph, admission receipt etc
After that your application form will be successfully submitted and you need to wait for the approval of your application form. Once you complete the registration and verified for the program, you will get notification on your contact details and will receive the payment in bank account directly.
