Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu announced on Tuesday that students hailing from Himachal Pradesh, whose annual family income is below Rs 4 lakh, now have the opportunity to apply for an education loan of up to Rs 20 lakh to pursue their higher studies. This progressive step aims to provide financial support and empower deserving students to fulfil their educational aspirations.
Students aged up to 28 years will be eligible to avail the education loan under the Mukhya Mantri Vidyarthi Protsahan Yojna. The loan will be provided at a nominal interest rate of one per cent.
Sukhu said in a statement on Tuesday that it will cover the cost of boarding, lodging, tuition fee, books, and other education-related expenses. PTI has reported that the Rs 200-crore scheme announced in the first budget of the Congress government was approved by the cabinet on Monday,
Students who have achieved a minimum of 60 per cent marks in their previous classes can avail this loan to pursue professional and technical diplomas and degrees. Meanwhile, this facility is not for students pursuing their studies through correspondence or online courses.
To apply for the education loan, the eligible candidates need to apply through an online portal. After verifying all the documents, the Director of Higher Education will recommend the candidates to the concerned bank for releasing the first instalment of the loan. Until the online portal is activated, students have the option to complete the offline form and submit the scanned documents via email to the Director of Higher Education.
