Students hailing from Himachal Pradesh, whose yearly family income is below 4 lakh, now have the chance of applying for an education loan of up to 20 lakh to pursue higher education. The statement was made by Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu. This progressive step aims to offer financial support and empower deserving students to fulfil their educational aspirations.
Under the Mukhya Mantri Vidyarthi Protsahan Yojna, students aged up to 28 years will be eligible to avail the education loan. As per reports, the loan will be provided at a nominal interest rate of one percent.
The loan will cover the cost of boarding, lodging, tuition fee, books, and other education-related expenses, Sukhu said in a statement issued here on Tuesday. The 200-crore scheme announced in the first budget of the Congress government was approved by the cabinet on Monday.
This education loan is available for students who have achieved a minimum of 60 percent marks in their previous classes, enabling them to pursue professional and technical diplomas and degrees. Meanwhile, this education loan facility is not for students pursuing their studies through correspondence or online courses.
