Empowering Dreams: India's Financial Support for Students

The Indian government has approved Rs 3,019 crore under the Credit Guarantee Fund Scheme, aiding 6.78 lakh students until 2024. This scheme offers education loans without collateral. The PM Vidyalaxmi initiative supports meritorious students in pursuing higher education without financial hurdles, as per the National Education Policy, 2020.

In a substantial move to support education, the Indian government has sanctioned Rs 3,019 crore under the Credit Guarantee Fund Scheme, benefiting around 6.78 lakh students by 2024, as announced by Union Education Minister Dharmendra Pradhan.

The scheme pledges government-backed guarantees for student education loans, eliminating the need for collateral security. By December 31, 2024, these funds will enhance educational opportunities for many, Pradhan confirmed in the Lok Sabha.

Further reinforcing educational equity, the PM Vidyalaxmi initiative provides financial aid to meritorious students, ensuring that economic barriers do not impede access to higher education. This initiative aligns with the National Education Policy, 2020's recommendations for financial assistance across public and private institutions.

(With inputs from agencies.)