Last Updated: 18 Oct 2025

Pradhan Mantri Vidyalaxmi (PMVidyalaxmi) Scheme

The scheme provides financial support for higher education loans up to ₹10 lakh to meritorious students facing financial constraints. It ensures that lack of funds does not hinder Indian youth from pursuing quality higher education.

  • Purpose: To financial support meritorious students so that financial constraints do not prevent any youth of India from pursuing quality higher education
  • Background: For helping out youth who have not been eligible for any benefit under government schemes and policies, the Union Budget 2024-25 has announced a financial support for loans up to 10 lakhs for higher education in domestic institutions.
  •  Type: Central Sector Scheme
Infographic detailing PM-Vidyalaxmi Education Loan scheme features including eligibility for students in top 860 quality institutions, coverage of over 22 lakh students annually with no loan cap, collateral-free digital application, 75% government credit guarantee up to 27.5 lakh, and interest subsidies based on family income, monitored through PM Vidyalaxmi portal by Canard Bank.
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