The Vidya Lakshmi Portal is an initiative by the Government of India to provide students with a centralized platform for educational loans. It aims to simplify the process of applying for loans and scholarships for higher education.
Vidya Lakshmi is a pioneering online platform designed to assist students in obtaining educational loans. It was developed under the guidance of the Department of Financial Services (Ministry of Finance), the Department of Higher Education (Ministry of Education), and the Indian Banks Association (IBA). Managed by NSDL e-Governance Infrastructure Limited, this portal allows students to view, apply for, and track their education loan applications with banks at any time and from any location. Additionally, the portal is linked to the National Scholarship Portal, providing a comprehensive resource for financial assistance.
The Vidya Lakshmi Portal serves as a centralized hub for students, offering detailed information on various loan schemes provided by different banks and enabling them to submit loan applications through a single platform.
The primary objective of the scheme is to facilitate access to higher education by providing financial support to students who have passed their 12th grade and are seeking to pursue further studies.
Loan Amount: Under the scheme, students can avail of a loan amount of up to INR 4 lakh for higher education.
Eligibility: Students who have completed their 12th standard from any recognized institution and are residents of Bihar are eligible to apply.
The scheme covers students enrolling in general courses, technical/professional courses, and polytechnic courses.
The interest rate for the loan is relatively low and repayment begins one year after the completion of the course or six months after getting a job, whichever is earlier.
Coverage:Â The loan can be used to cover tuition fees, examination fees, books, equipment, and other related expenses.
Application Process:
Students can apply for the scheme through the online portal of the Education Department, Government of Bihar.
Link: http://www.7nishchay-yuvaupmission.bihar.gov.in/
They need to fill out the application form, upload necessary documents, and submit the form online.
Aadhar Card
PAN Card Address Proof
10th and 12th Mark Sheets
Admission proof to the educational institution Bank account details
Process handbook for applying
https://www.7nishchay-yuvaupmission.bihar.gov.in/resources/Process_Flow_for_BSCC.pdf
