And trust me, this is long overdue.
Let us explain why 👇
Need a personal loan? Approved in seconds.
Buying an iPhone? Interest-free EMIs in minutes.
Want a car? Loan sanctioned within hours.
But when it comes to higher education?
→ You run from bank to bank.
→ Interest rates are sky-high.
→ And they’ll still ask for collateral
Ironically, the one thing our country needs most is education.
See, it’s not entirely the banks’ fault.
If you default on a car loan, they can seize the car and recover the money.
But for an education loan? They think:
“What’s a degree? Just a piece of paper. What do we get against it?”
To solve this very problem, the government has introduced the PM Vidya Lakshmi Yojana.
This scheme offers:
✅ Loans up to ₹7.5 lakh
✅ No collateral or guarantor required
✅ Interest subsidies
This scheme is eligible for admission to:
Top 100 NIRF-ranked institutions (overall, category-specific, or domain-specific).
State institutions ranked 101-200 in NIRF
All central government institutions
Finally, higher education is becoming accessible for those who need it most.
