PM Vidyalakshmi Scheme 2025, Eligibility, Apply Online In November, the Union Cabinet gave a nod to the PM Vidyalakshmi Scheme, with the aim of giving financial support to talented students for higher education in both government and private institutions. The Union Finance Minister, Nirmala Sitharaman, recently stated in the Lok Sabha that the scheme would be implemented by February 2025.
Under this scheme, students from families with an annual income of up to ₹8 lakh will be eligible for education loans of more than ₹7.5 lakh to fund their studies. For loans up to ₹10 lakh, a 3% interest subsidy will be given, which will greatly reduce the burden on eligible students. Additionally, people from households earning ₹4.5 lakh or less annually will get a complete waiver of interest through full interest subvention.
PM Vidyalakshmi Scheme 2025 Overview
| Scheme Name | PM Vidya Lakshmi Yojana |
| Date of Launch | 6th November 2024 |
| Yojana Enforced By | PM Narendra Modi |
| Beneficiary | Students |
| Type of Yojana | Loan |
| Number of Banks | 38 |
| Eligibility | 10+2 pass |
| Loan Amount | Up to 10 lakhs |
| Category | Yojana |
| Official Link | https://www.vidyalakshmi.co.in/ |
PM Vidyalakshmi Yojana 2025 Objectives and Highlights
- Accessible Education Loans: Offers education loans to students studying in India’s Quality Higher Education Institutions (QHEIs) numbering 860. No guarantor or collateral is required.
- Inclusive Coverage: The scheme ensures access to a diverse student population across both government and private institutions.
- Substantial Budget Allocation: ₹3,600 crore has been earmarked for the scheme, covering the period from 2024–25 to 2030–31.
- Annual Support: Reaches around 2.2 million students every year through financial support.
- Loan Amount and Interest: Loan up to ₹7.5 lakh is available at affordable interest rates to help students make higher education more accessible.
- Target Institutions: Targeted at students admitted to the 860 QHEIs, categorized under the National Institutional Ranking Framework (NIRF), which comprises premier public and private institutions.
- Digital Application Platform: Applicants can apply online through the PM Vidyalakshmi portal. It is a user-friendly digital interface linked with several banks, making the loan application process easier.
PM Vidyalakshmi Scheme Eligibility 2025
The government established a program for students who wish to continue their education in India or overseas but may drop out and begin working at a lower level if they are unable to pay for it.
- The candidate needs to be Indian.
- The applicant must have been accepted into a reputable university.
- The candidate must have a family income of at least 4point 5 lakh per year.
- The student needs to have completed the 12th grade or an equivalent program of study.
- A student must have an admission letter from an accredited university or college if they applied for a foreign education.
Important Documents for Applying to PM Vidyalakshmi Scheme 2025
- Aadhar card
- Pan Card
- Two passport-size photographs.
- Passing certificate of 10th and 12th
- Clear record of entrance
- Letter of admission
- Valid passport while applying for abroad studies
- Valid letter of offer from college or university of the country for which you applied
How to PM Vidya Lakshmi Scheme 2025 Apply Online?
After following these simple steps, you can apply for an education loan after registering on the PM Vidya Lakshmi Portal 2025.
- Enter your registration ID and mobile number OTP to access the official PM Vidya Lakshmi Yojana account link at https://www.vidyalakshmi.co.in/.
- Then click on “apply now”.
- The application for the PM Vidya Lakshmi Scheme 2025 will open in front of you.
- Fill the form.
- Choose the banks wisely.
- and select the nation of study.
- and attach the documents that are requested and actual.
- Click “Submit.”
- Your application is submitted properly.
- Wait for the affirmation from the banks now.
Important Link
| Official Link | Click Here |
| Homepage | Click Here |
Frequently Asked Questions
What is the budget of PM-Vidyalakshmi Plan?
The plan has a budget of about Rs 3,600 crore set aside for the years 2024–25 to 2023-31 in total.
What is the loan amount being provided through PM Vidya Lakshmi Yojana?
PM Vidya Lakshmi Yojana Student Loan is providing loan up to Rs 10 lakh at reasonable interest rates.