This is to notify all India’s meritorious students that the Union Cabinet announced the PM Vidyalakshmi Scheme College List on their official portal for talented students. In this scheme, the government aims to ease the financial burden on students and their parents by providing loans for their higher education. This scheme provides collateral-free loans from government-registered banks and financial institutions. It covers all educational expenses including tuition fees, books and other related costs of deserving students in India.
With the help of these loans, students are not only able to pursue their higher education in their respective fields of interest without any financial obstacles but also empowered to perform better in their prospects. If you’re a meritorious student who already applied for this scheme and wishes to check your name in the beneficiary list and avail the benefits of this PM Vidyalakshmi Scheme. Read the article below for complete information regarding the PM Vidyalakshmi Scheme which includes the process of list checking, eligibility, benefits, and more.
Overview of PM Vidyalakshmi Scheme
PM Vidyalakshmi Scheme is a prestigious initiative taken by the government of India to support meritorious students who may face financial obstacles in their higher education by providing free collateral loan security to them and empowering them to pursue their higher education in any field as per their interest. This scheme not only covers all educational expenses including tuition fees books and other things related to course type but also provides interest subvention support during the monitoring period to meritorious students of India so that they can continue their higher education without any financial troubles.
By offering this scheme government aims to provide flexible repayment options to students considering their financial situation after finishing their education overall the PM Vidyalakshmi Scheme aims to make education more accessible to students by providing them with free collateral loans so that they are able to pursue their higher education goals.
What is NIRF?
NIRF stands for (National Institute Ranking Framework) is an important fragment of the PM Vidyalakshmi Scheme that is designed by the Government of India in 29 September 2015, to provide ranks to higher institutions of education in India. NIRF aims to promote excellence in higher education based on various parameters such as teaching, learning, research resources, etc. NIRF plays a significant role in providing higher education to Meritorious students based on rankings across India. This scheme is available for all top-quality higher education institutions in India which are determined by the NIRF rankings.
Under this PM Vidyalakshmi Scheme, both Government HEI and private are covered, ranked within the top 100 in overall category-specific and domain-specific in NIRF rankings. This PM Vidyalakshmi Scheme not only enclosed State Government High Education Institutions ranked in between 101 to 200 but also covered Central Government institutions based on NIRF. With the help of rankings, meritorious students seek Higher Education without facing any financial obstacles in their higher studies.
Important Factors Of PM Vidyalakshmi Scheme College List
| Name of the List | PM Vidyalakshmi Scheme College List |
| Approved By | Union Cabinet, Government of India |
| Year of Approval | 2024-25 |
| Objective | Provide financial support to meritorious students of India in the form of free collateral loans |
| Benefits | Collateral Free Loans up to Rs. 10 lakhs as per their student needs and covers all education related expenses including tuition fees, books and other costs of deserving students, so that meritorious students are able to pursue their higher qualifications without any financial constraints. |
| Beneficiaries | Meritorious students of India who are in need of financial assistance. |
| Mode | Online |
| Official Website | https://www.nirfindia.org/. |
Objective
The primary objective behind this PM Vidyalakshmi Scheme is to provide financial support to meritorious students of India in the form of free collateral loans, so that students are able to pursue their higher qualifications without any financial constraints. This scheme plays a significant role in those students who are struggling with financial troubles and are unable to pursue their higher education by providing higher educational loans to them that cover all educational expenses like tuition fees, examination fee, and other expenses related to their course. Through this scheme, meritorious students are not only able to continue their higher studies but also facilitate them to secure brighter career opportunities in future goals.
Selection Criteria of College Under PM Vidyalakshmi
Selection of college under PM Vidyalakshmi Scheme is based on some parameters top 100 quality higher institution education criteria determined by NIRF Rankings in India these parameters are mentioned below
- Teaching learning and resources
- Research and Professional Practice
- Graduation Outcomes
- Peer Perception
- Outreach and Inclusivity.
Benefits of PM Vidya Lakshmi
There are many benefits covered under this PM Vidyalakshmi Scheme some of which are mentioned below
- This scheme provides free collateral loans up to Rs 10 lakhs to meritorious students of India.
- This scheme covers all education related expenses including tuition fees, books and other costs of deserving students.
- Through this scheme government aims to empower meritorious students by providing financial support in the form of guarantee loans to them.
- This scheme starts with 860 qualifying Higher Education Institutions and cover more than 22 lakhs meritorious students who wish to pursue their higher studies by availing loans.
- Under this program every year 1 lakh students are selected as per their NIRF rankings.
- With the help of this financial support meritorious students of India who are suffering from financial issues and are not able to receive quality higher education gets an opportunity by getting free collateral loans.
- In this scheme meritorious students can receive their loans through E-voucher or (CBDC) in India.
Eligibility Criteria for Students
To be eligible for PM Vidyalakshmi Scheme, applicant must have to meet the following eligibility criteria’s these are as mentioned below
- Applicant must be a permanent resident of India.
- Applicant must be engaged either in any technical or professional courses from recognized government institution in India.
- Applicant must have their own bank account linked with Aadhar card.
- Applicant must not involved in any other government schemes.
- Annual income of applying candidate’s family must not be more than Rs 8.00 lakhs per annum from all sources.
Check PM Vidyalakshmi Scheme College List Online?
Applicant who want to check their name in the beneficiary list through online, must have to follow some simple steps these steps are as follows:-
Step 1: After clearing all the eligibility criteria’s applicant need to visit the NIRF Portal
Step 2: Once the applicant reaches the home page of the official website,
Step 3: Now applicant need to select their College/Institution by clicking on it.
Step 4: After that List of beneficiary will be open on the screen
Step 5: now applicant can easily check their name in the beneficiary list.
Step 6: If applicant wants to download the beneficiary list must need to click on PDF and then click on Download option.
Step 7: In this way applicant can easily check their name in PM Vidyalakshmi Scheme College List.
Download PM Vidyalaxmi Scheme College List PDF
FAQs
Q. Which department of India announced this Scheme?
The Higher Education Department of India announced this PM Vidyalakshmi Scheme.
Q. Is this scheme is only available for citizens of India?
Yes, this PM Vidyalakshmi Scheme is only available for citizens of India.
Q. What are the benefits of PM Vidyalakshmi Scheme?
This scheme provide free collateral loans up to Rs 10 lakhs to meritorious students of India and covers all education related expenses including tuition fees, books and other costs of deserving students.
Q. What is the full form of NIRF and CBDC?
The full forms of NIRF and CBDC are National Institutional Ranking Framework and Central Bank Digital Currency respectively.
Q. Is a student whose family’s income is more than Rs.8.00 lakh can apply for this Scheme?
No, only students whose family income is less than Rs. 8.00 lakh can apply for PM Vidyalakshmi Scheme.