PM Student Loan Scheme: Education is the basis of our life. If you are educated then you can go far ahead in your life. Efforts are also being made from time to time by the government so that everyone can be educated. Education is the basic foundation of life without which nothing is possible. Keeping this in view, the government keeps providing new incentives for students from time to time.
Getting financial assistance to complete your studies
Many times children from poor families do not have enough money to complete their education. The government is helping them for this. A new scheme has been launched by the government, under which financial assistance is provided to those students who are unable to complete their studies due to financial constraints. The name of this scheme is “Pradhan Mantri Vidya Lakshmi Education Loan Scheme”. This scheme helps those students who are unable to continue their studies due to lack of sufficient funds.
Government started Pradhan Mantri Vidyalakshmi Education Loan Scheme
Pradhan Mantri Vidya Lakshmi Education Loan Scheme provides them a loan so that they can afford the expenses of going to school. Vidya Lakshmi portal is specially designed for those students who are poor and do not have much money. The government has implemented this scheme to help these students. Many times talented children are left behind due to lack of money.
In such a situation, the government is supporting these students and providing financial assistance through PM Vidhya Lakshmi Education Loan Yojana 2024 to encourage them to continue their studies. There are 38 banks registered under this scheme which provide loans to students.
प्रधानमंत्री लोन योजना फॉर्म
Equal opportunities should be available to all
Under PM Vidya Lakshmi Education Loan Yojana 2024, loans ranging from ₹ 50,000 to ₹ 6.5 lakh can be taken from many banks and financial institutions. This loan can be repaid over a period of 5 years. Interest rates for these loans typically range between 10.5% to 12.75% per year, making them even more attractive to students seeking financial aid. The objective of this scheme is that financial constraints should not become a hindrance for any student in getting higher education. And equal opportunities can be available to all.
Required eligibility for taking a lawn
- To avail the benefits of this government scheme, the applicant must be a citizen of India.
- The applicant must have obtained minimum 50% marks in 10th and 12th class examinations.
- You will have to take admission in a recognized institute for higher education.
- You will have to demonstrate your ability to repay the loan.
- Once students apply on the Vidya Lakshmi portal, the bank reviews their application.
Documents required to take loan
- application form
- identity card
- income certificate
- Caste Certificate (if applicable)
- proof of address
- 10th and 12th class mark sheet
How to apply for loan
- To start your enrollment in this scheme visit the official website (www.vidyalakshmi.co.in) will go on.
- Now “Register” option will appear on the right side of the homepage, you will have to click on it.
- After providing the necessary registration information and consent, the form needs to be submitted.
- A link will be sent to your registered email, which will be valid for 24 hours.
- You have to complete the registration process and click on the link to activate your account.
- Now you have to log in as a student on the portal using email, password and captcha.
- Now you have to click on “Loan Application Form”.
- Now you have to fill the form and Necessary documents have to be uploaded.
- Now you have to choose the option to apply for the loan scheme.
- Then details like course name, location, loan amount have to be entered.
- Now a list of banks will appear as per your criteria.
- Now you have to select a bank.
- Necessary information has to be filled here.
- In this way your application for loan under PM Vidya Lakshmi Yojana will be completed.
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