PM Vidya Lakshmi Scheme to Help Underprivileged Students Achieve Their Dreams of Higher Education: MP Brijesh Chowta

Mangaluru: According to Dakshina Kannada MP Brijesh Chowta, the recently approved "PM Vidya Lakshmi Scheme," which was introduced by the central government under Prime Minister Narendra Modi's leadership, is anticipated to provide a lifeline to talented students throughout India, particularly those who are facing financial barriers to higher education.

Chowta thanked the Cabinet for approving the plan and emphasised how it advances the National Education Policy's (NEP) goals of expanding access to high-quality education during a recent meeting. "The PM Vidya Lakshmi Scheme will enable thousands of underprivileged students to pursue higher education in reputable institutions with ease and financial support, paving the way for a more inclusive education system," he said.

Students from families earning less than Rs 8 lakh a year are eligible for collateral-free loans up to Rs 7.5 lakh for higher education under the PM Vidya Lakshmi Scheme. 75% of these loans will be guaranteed by the government, reducing banks' financial risk. Loans up to Rs 10 lakh with a 3% interest subsidy are available to students from families earning more than Rs 8 lakh.

The programme, which is anticipated to soon be implemented nationwide, intends to annually assist thousands of gifted students from low- and middle-income families. Chowta encouraged qualified students to take advantage of this chance provided by the Modi administration in order to fulfil their academic goals.