Aware and awake Prime Ministers Vidyalakhmi Scheme – Education Loan. It is a Central Scheme aimed to provide financial support to meritorious students pursuing higher education in Elite / Quality Higher Educational Institutions (especially Government and Government Aided Institutions). The general outline of this schemes are:

1. The loan will be collateral – guarantee free educational loan,
2. 3% interest subvention during moratorium to one lakh students with family income upto Rs.8 Lakhs
3. Full interest subvention during moratorium for loans upto Rs.10 Lakhs for students with family income upto Rs.4.50 Lakhs.
4. Preference to students who passed higher secondary (10+2) – board examinations in Government Schools.
5. Preference to Technical and Professional Courses.
6. Preference to girl students

Important: Educational Loans to management quota are not given.

Following documents must be uploaded by the student in portal:

1. Marksheet for Class X.
2. Marksheet for Class XII/Last qualifying Examination / Diploma
3. Proof of admission to the course.
4. Schedule of Expenses for the course as given by institution
5. Proof of Income issued by public authority / college authority
6. Applicant photograph
7. Parent Photograph
8. Co-obligant / Guarantor photo should be uploaded if collateral security is given.

The applicant process is simple, transparent and student friendly – entirely digital application process.