Did 4,590 TN Students Secure Loans Under PM-Vidyalaxmi Scheme?
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Synopsis
In a remarkable achievement, Tamil Nadu has seen a surge in education loan beneficiaries under the PM-Vidyalaxmi scheme, positioning it at the top among southern states. With over 4,590 students availing loans, this initiative aims to break financial barriers and promote higher education access. Discover how this scheme is transforming the educational landscape for the youth in Tamil Nadu.
Key Takeaways
- 4,590 students from Tamil Nadu secured loans.
- Loans of up to Rs 7.5 lakh are provided.
- Scheme aims to eliminate financial barriers.
- 75% credit guarantee encourages lender participation.
- Career guidance programmes aid student transitions.
Chennai, June 21 (NationPress) A remarkable 4,590 students from Tamil Nadu have successfully obtained education loans of up to Rs 7.5 lakh under the Pradhan Mantri Vidyalaxmi (PM-Vidyalaxmi) scheme since November of the previous year. This achievement positions the DMK-led state as the leader among five southern states, as revealed by data from the Union government on Saturday.
In contrast, Karnataka has registered 4,403 beneficiaries, followed by Andhra Pradesh with 3,428, Telangana at 2,590, and Kerala with 2,070, thereby establishing Tamil Nadu at the forefront of its regional peers, according to statistics released by the Ministry of Education.
The PM-Vidyalaxmi scheme, initiated by the Ministry in November 2024, aims to eliminate financial barriers preventing deserving students from attaining quality higher education.
It provides collateral-free and guarantor-free education loans of up to Rs 7.5 lakh, with the Centre offering a 75% credit guarantee to stimulate engagement from financial institutions.
Officials from the Tamil Nadu Higher Education Department credit the state's superior ranking to its consistently high Gross Enrolment Ratio (GER) and a substantial youth population.
Currently, Tamil Nadu boasts a youth demographic of around 69.37 lakh in the 18–23 age category, playing a crucial role in the distribution of benefits under this scheme.
Authorities anticipate a surge in beneficiaries in the forthcoming years as the state amplifies its initiatives to encourage higher education among economically disadvantaged groups.
A significant measure in this direction is the career guidance programme launched by the School Education Department.
This scheme aids Class 10 students in transitioning to higher secondary education and inspires Class 12 students, particularly from government schools, to seek college degrees.
The impact of this initiative is evident. The GER for government school students in Tamil Nadu has escalated from 47% to 74%, as noted by a senior official.
“We aim to reach a 100% GER in the upcoming years through enhanced access, awareness initiatives, and financial assistance strategies,” the official added.
Point of View
It's vital to recognize the significant strides Tamil Nadu is making in education access. The impressive uptake of loans under the PM-Vidyalaxmi scheme is a testament to the government's commitment to empowering youth and promoting higher education, particularly among underserved communities. This initiative reflects a broader trend towards inclusivity and opportunity in education across India.
NationPress
21/06/2025
Frequently Asked Questions
What is the PM-Vidyalaxmi scheme?
The PM-Vidyalaxmi scheme is an initiative aimed at providing education loans of up to Rs 7.5 lakh without collateral or guarantors, ensuring financial barriers do not hinder students from pursuing higher education.
How many students in Tamil Nadu availed loans under this scheme?
As of June 21, a record 4,590 students from Tamil Nadu have availed loans under the PM-Vidyalaxmi scheme.
What is the credit guarantee provided by the government?
The government provides a 75% credit guarantee to lending institutions to encourage them to participate in the scheme.
How does this scheme impact the youth of Tamil Nadu?
The PM-Vidyalaxmi scheme significantly increases access to higher education for Tamil Nadu's youth, especially among economically weaker sections.
What initiatives support students transitioning to higher education?
The career guidance programme initiated by the School Education Department supports students in making informed decisions about their educational paths.
