Parliament Question: Financial Assistance under PM-USP Scheme

GOVERNMENT OF INDIA MINISTRY OF EDUCATION DEPARTMENT OF HIGHER EDUCATION LOK SABHA UNSTARRED QUESTION No. 2742 ANSWERED ON 09/03/2026 Financial Assistance under PM-USP Scheme 2742. Shri Raja Ram Singh: Will the Minister of EDUCATION be pleased to state: (a) the details of the total number of beneficiaries and the total amount of financial assistance disbursed under the Pradhan Mantri Uchchatar Shiksha Protsahan Scheme (PM-USP) during the last five years, State/UT-wise and year-wise; (b) whether the Government has received any representations/feedback regarding the inadequacy of financial assistance under the Scheme in view of rising costs of higher education and if so, the details thereof; (c) the details of the steps taken by the Government during the last five years to revise/enhance the financial assistance under the Scheme to account for inflation and increased educational expenses along with the action taken thereon; and (d) whether the Government proposes to further revise the assistance coverage under the Scheme and if so, the details thereof along with the proposed timeline for implementation? ANSWER MINISTER OF STATE IN THE MINISTRY OF EDUCATION (DR. SUKANTA MAJUMDAR) (a) to (d): The Department of Higher Education (DHE) implements the Pradhan Mantri Uchchatar Shiksha Protsahan (PM-USP) Yojana comprising of the following Central Sector sub-schemes namely (i) PM-USP Central Sector Scheme of Scholarship for College and University Students; (ii) PM-USP Special Scholarship Scheme for Jammu & Kashmir and Ladakh; and (iii) PM-USP Central Sector Interest Subsidy Scheme and Credit Guarantee Fund Scheme for Education Loan. Under PM-USP Yojana, the financial aid is provided to students pursuing higher education in India. The total number of beneficiaries and the total amount of financial assistance disbursed under the Pradhan Mantri Uchchatar Shiksha Protsahan (PM-USP) Yojana during the last five years, State/UT-wise and year-wise may be accessed at https://www.education.gov.in/parl_ques. The umbrella scheme is beingimplemented smoothly as per extant schematic norms of the three component schemes. The scholarship amount provided annually under the PM-USP CSSS scheme has been revised from ₹10,000 to ₹12,000 with effect from the academic year 2022-23. The Pradhan Mantri Vidyalaxmi (PM Vidyalaxmi), a new central sector scheme has been launched on 6th November 2024. The main objective of the scheme is to ensure that no student is denied the opportunity to pursue higher education due to financial constraints. Under the scheme, collateral-free and guarantor-free education loans are provided to all the students, who get merit-based admission in top Quality Higher Education Institutions (QHEIs) and who desire to avail the education loan and there is no upper limit for this. Further, for students with annual family income up to ₹ 8 lakh, the scheme provides 3% interest subvention on education loans up to ₹ 10 lakhs. Thus, PM Vidyalaxmi, PM-USP CSIS and PM USP CGFSEL schemes, along with the various scholarships together provide holistic support to all deserving students to pursue higher education. *****