Every child has the right to get the education. The Government of India has made an announcement for the launch of Vidyalakshmi Scheme. Under this scheme the government has made an effort to encourage students on education. As the government of India is providing financial assistance to those students who are seeking funding to study across India or overseas. To receive more information about the scheme, interested students should go through the official website at https://www.vidyalakshmi.co.in/. Further in this article we will provide you the detailed description about the Scheme including Key Highlights, Objectives, Benefits & Features, Eligibility Criteria, Required Documents, Registration Procedure for Vidyalakshmi Scheme, etc.
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About Vidyalakshmi Scheme
Honourable Union Finance Minister, Shri Arun Jaitley has taken this initiative step to introduce Vidyalakshmi Scheme. The aim of the scheme is to provide educational loans to those students who wants to study across India or abroad but are unable to pursue due to financial issues. The Vidyalakshmi Portal provides information about 139 education loan programme which are provided by 45 banks across India. The Vidyalakshmi Portal is being developed by the Department of Financial Services, the Department of Higher Education and the Indian Banks Association. As we know that India is one of the youngest nations in the world with more than 54% of the total population below 25 years of age. These young people needs to be both, educated and employable for the jobs of the 21st century.
Key Highlights Of Vidyalakshmi Scheme
| Name of the Article | Vidyalakshmi Scheme |
| Launched By | Honourable Union Finance Minister, Shri Arun Jaitley |
| Beneficiary | Students of India |
| Benefits | Financial assistance for higher studies |
| Objective | To provide educational loans to those students who wants to study across India or abroad but are unable to pursue due to financial issues |
| State | All states of India |
| Year | 2024 |
| Mode of Transfer | DBT (Direct Benefit Transfer) |
| Form of Benefit | Educational Loans |
| Hosting Site | NIC (National Informatics Center) |
| Mode of Application | Online |
| Official Website | https://www.vidyalakshmi.co.in/ |
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Objectives Of Vidyalakshmi Scheme
The objectives of the Vidyalakshmi Scheme are as follows:
- The primary objective of launching the Scheme is to provide educational loans to those students who wants to study across India or abroad but are unable to pursue due to financial issues.
- As we know that India is one of the youngest nations in the world with more than 54% of the total population below 25 years of age, so keeping an eye on it the aim of the government is that, these young people needs to be both, educated and employable for the jobs of the 21st century.
Benefits & Features Of Vidyalakshmi Scheme
Here are some benefits & features of Vidyalakshmi Scheme, which are as follows:
- Under this scheme the Government of India will provide financial assistance in terms of educational loans, to those students who are seeking funding to study across India or overseas.
- Under this scheme the Indian Government has made an effort to encourage the students on education.
- The Vidyalakshmi Portal provides information about 139 education loan programme which are provided by 45 banks across India.
- The Vidyalakshmi Portal is being developed by the Department of Financial Services, the Department of Higher Education and the Indian Banks Association.
- This scheme will help to increase the literacy rate across the nation.
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Eligibility Criteria
To get the financial assistance from the Indian Government under Vidyalakshmi Scheme, candidates should fulfil these eligibility criteria:
- Applicants must be permanent resident of India.
- Applicant should be a student.
- Applicant should be 12th pass.
Required Documents
To avail the benefits of the Vidyalakshmi Scheme, candidates should have these following documents:
- Aadhar Card
- Residence Certificate
- Birth Certificate
- Educational Certificate
- Account Passbook
- Passport Size Photograph
- Mobile Number
- Email ID
Registration Procedure For Vidyalakshmi Scheme
To register under Scheme, please follow the below mentioned steps:
- Visit the official website at https://www.vidyalakshmi.co.in/.
- On homepage click on “NEW USER? REGISTER NOW” option.
- Fill the required details as asked in the form such as Title, first name, middle name, last name, mobile number, email id, password, confirm password and enter Captcha.
- Accept the agreement terms & conditions.
- Click on “Submit” button.
Application Procedure For Vidyalakshmi Scheme
To apply for Scheme, please follow the below mentioned steps:
- Visit the official website at https://www.vidyalakshmi.co.in/.
- On homepage click on “CLICK HERE” link after “To search and apply for scholarship through National Scholarship Portal” option.
- Select the option that says “Search and Apply for Loan”.
- Select the nation where you wish to study (in India or overseas) now.
- Then decide the path you wish to take and decide how much you’ll need to pay for your further education.
- Now to apply for a Vidya Lakshmi education loan, choose three preferable banks and appropriate terms and conditions for repayment.
- Upload the necessary files that are requested there. Examine the information you plan to submit in brief.
- Finally click on “Submit” button to complete the application process.
Contact Details
Address:
Times Tower, 1st Floor,
Kamala Mills Compound,
Lower Parel, Mumbai,
Maharashtra 400013
Phone Number:
020-2567 8300
Email ID:
Vidyalakshmi[at]proteantech[dot]in
FAQ’s
What is the benefit of the Vidya Lakshmi Scheme?
Under this scheme the Government of India will provide financial assistance in terms of educational loans, to those students who are seeking funding to study across India or overseas.
Who is eligible for Vidya Lakshmi Scheme?
Students of India who have passed class 12th are eligible for Vidya Lakshmi Scheme.
Who launched the Vidya Lakshmi Scheme?
Honourable Union Finance Minister, Shri Arun Jaitley has taken this initiative step to introduce Vidya Lakshmi Scheme.
What is the registration procedure for Vidya Lakshmi Scheme?
Registration procedure has been discussed above for the Vidya Lakshmi Scheme.
What is the key objective of Vidya Lakshmi Scheme?
The primary objective of launching the Scheme is to provide educational loans to those students who wants to study across India or abroad but are unable to pursue due to financial issues.