Taking education loan has become easier for students, know what will be the process now?

PM Vidhyalaxmi Scheme & Education Loan: Now it will be easier for students to take education loan than before. The Education Ministry is continuously preparing to simplify the process. The Ministry of Education has posted from its official account. It is written in this post – The Ministry of Education is preparing to ease the process of obtaining education loan for accessibility in education. The portal is being updated by the Ministry for Pradhan Mantri Vidyalakshmi Yojana.

It is further written in this post – This will make it easier for students to apply. Considering the expansion of the scheme, along with big banks, private banks have also been kept under its purview.

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Actually, the portal is being updated by the Ministry for Pradhan Mantri Vidyalakshmi Yojana. Apart from this, along with big banks, private banks have also been kept in this scope. After this step of the Education Ministry, taking education loan will become easier than before.

The Ministry of Education is preparing to simplify the process of obtaining education loan for ease of education. The portal for Pradhan Mantri Vidyalakshmi Yojana is being updated by the Ministry. This will make it easier for students to apply. Considering the expansion of the scheme… pic.twitter.com/5c6HQKkNAZ

— Ministry of Education (@EduMinOfIndia) November 25, 2024

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What is Pradhan Mantri Vidyalakshmi Yojana?

Let us tell you that under Pradhan Mantri Vidyalakshmi Yojana, students on loans up to Rs 7.5 lakh get 75 percent credit guarantee on the outstanding amount. Apart from this, students whose annual family income is up to Rs 8 lakh and who are not eligible for any other government scholarship or interest subsidy are given an interest subsidy of 3 percent during the moratorium period on loans up to Rs 10 lakh.

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