**Executive Summary:**
The Ministry of Education addressed concerns regarding the PM Vidyalaxmi Scheme in Lok Sabha Unstarred Question No. 157 on July 21, 2025. The scheme, launched on November 6, 2024, aims to provide collateral-free education loans to students admitted on merit to top Quality Higher Education Institutions (QHEIs). An outlay of Rs. 3,600 Crore has been made from 2024-25 to 2030-31. The response details funds disbursed, awareness initiatives, monitoring mechanisms, and alignment with UN Sustainable Development Goals.
**Key Points / Main Content:**
* **PM Vidyalaxmi Scheme Overview:**
* Objective: To ensure no student is denied higher education due to financial constraints.
* Provides collateral-free and guarantor-free education loans to students with merit-based admission in top QHEIs, with no upper limit.
* As of July 15, 2025, 23,420 loans have been sanctioned, with Rs. 996.51 crore disbursed.
* For students with annual family income up to 8 lakh, the scheme provides 3% interest subvention on loans up to 10 lakhs. Up to one lakh fresh students not getting any other scholarship or interest subvention on education loan will get this interest subvention.
* Outlay of Rs. 3,600 Crore has been made from 2024-25 to 2030-31, for providing 3% interest subvention benefit for up to 7 lakh fresh students during this period.
* **Awareness and Monitoring Initiatives:**
* Scheme guidelines available on the Ministry of Education website.
* Indian Banks Association circulated guidelines to member banks.
* Dedicated online platform (PM Vidyalaxmi portal) for loan and interest subvention applications.
* Multilingual pamphlets available on the PMVL portal.
* HEIs requested to distribute pamphlets and publicize a dedicated call centre number (1800 1031).
* Banks requested to conduct workshops/webinars, use digital marketing, set up help desks, and provide brochures.
* IBA to develop a uniform communication toolkit.
* Banks to launch nationwide promotional campaigns and set up help desks near QHEIs during admission periods.
* DHE and DFS monitor loan progress regularly with IBA and banks, conduct meetings with QHEIs, banks, and IBA, and organize workshops with UGC, DFS, IBA, and banks.
* **Alignment with UN Sustainable Development Goals (SDGs):**
* The Ministry of MSME is the nodal Ministry of PM Vishwakarma Yojana and has aligned the PM Vishwakarma Scheme with SDGs, particularly SDG 4 (quality education and gender equality).
* The PM Vishwakarma Scheme provides end-to-end support to artisans and craftspeople in 18 traditional trades.
* The Scheme promotes quality education through skill development with basic and advanced training, stipend, transport allowance, and lodging.
* The Scheme promotes gender equality by ensuring equal access to benefits for women artisans, tracking participation, and targeted outreach.
* As of July 14, 2025, out of 29.96 lakh registrations under the PM Vishwakarma Scheme, about 10.8 lakh are women beneficiaries.
* Of these, 8.19 lakh women have completed skill training and loans have been sanctioned for 1.48 lakh women beneficiaries amounting to over Rs.1,300 crore.
**Impact Analysis:**
* **Students:**
* *Impact:* Access to higher education through collateral-free loans and interest subventions.
* *Action Required:* Apply for loans and interest subventions through the PM Vidyalaxmi portal.
* **Parents (particularly from Economically Weaker Sections):**
* *Impact:* Reduced financial burden for their children's education.
* *Action Required:* Encourage their children to apply for the scheme and utilize available resources.
* **Higher Education Institutions (HEIs) and Quality Higher Education Institutions (QHEIs):**
* *Impact:* Increased enrollment and access to education for students.
* *Action Required:* Distribute scheme information, display publicity materials, and collaborate with banks.
* **Banks (Public Sector, Private, Regional Rural, and Cooperative):**
* *Impact:* Increased loan disbursement under the scheme.
* *Action Required:* Implement scheme guidelines, promote the scheme, set up help desks, and collaborate with HEIs.
* **Indian Banks Association (IBA):**
* *Impact:* Facilitate the implementation of the scheme by member banks.
* *Action Required:* Develop a uniform communication toolkit and collaborate with DHE and DFS.
* **Ministry of Education, Department of Higher Education (DHE), and Department of Financial Services (DFS):**
* *Impact:* Successful implementation and monitoring of the scheme.
* *Action Required:* Monitor loan progress, conduct meetings with stakeholders, and organize workshops.
* **Ministry of Micro, Small and Medium Enterprises (MSME):**
* *Impact:* Alignment of PM Vishwakarma Yojana with SDGs.
* *Action Required:* Continue providing support to artisans and craftspeople.
Key Entities Referenced
PM Vidyalaxmi Scheme: A central sector scheme launched to ensure that no student is denied the opportunity to pursue higher education due to financial constraints.
Pradhan Mantri Vishwakarma Scheme (PMVS): A scheme aiming to provide end-to-end support to artisans and craftspeople engaged in traditional trades.
United Nations Sustainable Development Goals (SDGs): A collection of 17 interlinked global goals designed to be a blueprint to achieve a better and more sustainable future for all.
Ministry of Education: The government ministry responsible for education in India.
Indian Banks Association (IBA): An association of banks in India that works to promote and develop the banking industry.
Department of Higher Education (DHE): A department within the Ministry of Education responsible for higher education.
Department of Financial Services (DFS): A department that monitors the progress of education loan submission, processing and disbursement.
Ministry of Micro, Small and Medium Enterprises (Mo MSME): The nodal ministry for the PM Vishwakarma Yojana.
GOVERNMENT OF INDIA
MINISTRY OF EDUCATION
DEPARTMENT OF HIGHER EDUCATION
LOK SABHA
UNSTARRED QUESTION NO. 157
ANSWERED ON- 21/07/2025
PM VIDYALAXMI SCHEME
157. DR. D. PURANDESWARI:
Will the Minister of EDUCATION be pleased to state:
(a) the details of funds allocated, sanctioned and disbursed under the Pradhan Mantri
Vidyalaxmi Scheme and the financial outlay of the aforementioned scheme;
(b) the details of the initiatives undertaken to create awareness about the Scheme among
parents, particularly among economically weaker sections;
(c) the details of the mechanism in place to monitor the performance and success of the
aforementioned scheme;
(d) the steps taken or proposed to be taken by the Government under the aforementioned
scheme to encourage the holistic development of girls, including soft skills and leadership
training;
(e) whether the Government has taken steps to align the Pradhan Mantri Vishwakarma Scheme
(PMVS) with country's commitments to global frameworks such as the United Nations
Sustainable Development Goals (SDGs) 4 on quality education and gender equality; and
(f) if so, the details thereof?
ANSWER
MINISTER OF STATE IN THE MINISTRY OF EDUCATION
(DR. SUKANTA MAJUMDAR)
(a): The 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 loan is 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.The details of loans sanctioned and disbursed under the PM-Vidyalaxmi is as under:
Scheme Name No. of Loans sanctioned as Amount disbursed as on
on 15.07.2025 15.07.2025
(₹ crore)
PM-Vidyalaxmi 23,420 996.51
Further, for students with annual family income up to ₹ 8 lakh, the scheme provides 3% interest
subvention on loans up to ₹ 10 lakhs. Up to one lakh fresh students not getting any other
scholarship or interest subvention on education loan will get this interest subvention. An outlay
of Rs. 3,600 Crore has been made from 2024-25 to 2030- 31, for providing 3% interest
subvention benefit for up to 7 lakh fresh students during this period.
(b), (c) and (d): To improve awareness, the scheme guidelines have already been provided in
the website of Ministry of Education at
https://www.education.gov.in/en/scholarships_education_loan. Further, the Indian Banks
Association has circulated the guidelines to all the member banks.
A dedicated online platform, the PM Vidyalaxmi portal has been developed on which students
can apply for the education loan as well as interest subvention, through a simplified application
process to be used by all banks. The Portal is for all Public Sector Banks, Private Banks,
Regional Rural Banks and Cooperative Banks. All these measures aim to create widespread
awareness about the scheme and help eligible students, including those from rural and
underprivileged areas to avail the benefits of PM-Vidyalaxmi.
Multi-lingual pamphlet of PM-Vidyalaxmi has been developed and uploaded in the PMVL
portal. All HEIs have been requested to download and distribute the same to students of their
HEI.
All QHEIs have been requested to prominently display the PM-Vidyalaxmi Scheme publicity
materials within their campuses and actively publicize the dedicated call centre number 1800-
1031 for the PM-Vidyalaxmi Scheme.
The Banks have been requested to conduct workshops/webinars and digital promotions in
collaboration with institution, display PM-Vidyalaxmi Scheme details on their website, mobile
apps and branch premises, use digital marketing vis social media platform such as
Facebook/Twitter/Instagram, setup dedicated education loan help desks by branch at mapped
institutions, provide clear, concise brochures and flyers about the Scheme, align relationship
managers to liaison with Nodal officers of the institutions for smoother processing and
information.
The Indian Banks’ Association (IBA) has been requested to develop a uniform communication
toolkit, including presentations, circulars, and FAQs covering all categories of education loans.
All member banks have been asked to launch a nationwide promotional campaign- both prior
and during the admission season, including newspaper advertisements and press release, to
raise awareness about the PM-Vidyalaxmi Scheme.
Member banks have been asked to add taglines of PM-Vidyalaxmi in their existing promotional
materials and advertisements for faster rollout and to set up dedicated help desks for
educational loans at branches located near QHEIs during the admission period.All these measures aim to create widespread awareness about the scheme and help the eligible
students, parents including those from economically weaker sections and girl students to avail
the benefits of PM-Vidyalaxmi.
The Department of Higher Education (DHE) and the Department of Financial Services (DFS)
monitor the progress of education loan submission, processing and disbursement on a regular
basis together with the Indian Banks Association (IBA) and banks. Further, the DHE in
coordination with DFS conduct meetings with QHEIs, banks and IBA for smooth
implementation of the scheme on a regular interval. Workshops are also organized with the
QHEIs in collaboration with the UGC, DFS, IBA and the banks to increase awareness of the
QHEIs and students.
(e) and (f): The Ministry of Micro, Small and Medium Enterprises (M/o MSME) is the nodal
Ministry of PM Vishwakarma Yojana. Ministry of MSME has taken concrete steps to align the
PM Vishwakarma Scheme with the country’s commitments to global frameworks, particularly
the United Nations Sustainable Development Goals (SDGs) 4, relating to quality education and
gender equality. The Scheme, launched by the Hon’ble Prime Minister on 17.09.2023, aims to
provide end-to-end support to artisans and craftspeople engaged in 18 traditional trades,
through components such as skill training, toolkit incentive, credit support, and market linkage.
The Scheme promotes quality education by offering structured skill development through basic
and advanced training, along with daily stipend, transport allowance, and lodging and boarding.
It also advances gender equality by ensuring equal access to benefits for women artisans and
craftspeople across all trades, with active tracking and targeted outreach to enhance their
participation.
Under the Scheme, as of 14.07.2025, out of 29.96 lakh registrations under the PM
Vishwakarma Scheme, about 10.8 lakh are women beneficiaries. Of these, 8.19 lakh women
have completed skill training in one of the 18 trades. Further, loans have been sanctioned for
1.48 lakh women beneficiaries amounting to over Rs.1,300 crore
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