The Ministry of Education has encouraged students pursuing higher education to explore education loan benefits under the PM Vidyalaxmi Scheme. The ministry shared information through its official X handle, highlighting that eligible students can get education loans without collateral and without a guarantor.
In its post, the ministry said, "If you have taken admission in a selected institution, you can avail an education loan under PM Vidyalaxmi without Collateral and without a guarantor."
'विद्यार्थियों के लिए विद्यालक्ष्मी'📚
— Ministry of Education (@EduMinOfIndia) July 1, 2026
अब उच्च शिक्षा का सपना होगा आसान!
अगर आपने किसी चयनित संस्थान में प्रवेश लिया है, तो PM Vidyalaxmi के तहत बिना Collateral और बिना Guarantor के शिक्षा ऋण प्राप्त कर सकते हैं।
अधिक जानकारी के लिए विज़िट करें: https://t.co/z4UG7Sr3XR… pic.twitter.com/BlQFrj0iP7
The Prime Minister Vidyalaxmi Scheme was launched under the National Education Policy (NEP) 2020 with the aim of helping students access financial support for higher education.
Under the scheme, students can apply for education loans through a unified digital platform by submitting the Common Education Loan Application Form (CELAF). The loans are provided through participating banks, including commercial banks, regional rural banks, cooperative banks and private banks.
Eligible students can get education loans of up to Rs 7.5 lakh with a 75 per cent credit guarantee, making it easier for them to pursue higher studies without providing security or a guarantor.
The scheme also provides additional support for students from lower-income families. Students with a family income of up to Rs 8 lakh per year can get a 3 per cent interest subvention on education loans up to Rs 10 lakh. Those with an annual family income of up to Rs 4.5 lakh may receive full interest subvention, subject to eligibility conditions.
The Ministry of Education has advised students to check the list of eligible Quality Higher Education Institutions (QHEIs) before applying. Candidates should also review the eligibility criteria, participating banks, required documents and other important details available on the official portal.
