Himachal Pradesh government is soon going to invite YS Parmar Vidyarthi Rin Yojana 2024 online registrations from students. On 22 September 2024, the state govt. has expanded the scope of the scheme to include overseas education. This move shall empower meritorious students from economically weaker sections.
Under Dr. YS Parmar Vidyarthi Rin Yojana, eligible students can avail loans upto Rs. 20 lakh at just 1% interest rate. Read this article till the end to know how to apply online for Dr. Yashwant Singh Parmar Student Loan Scheme.
Dr. YS Parmar Vidyarthi Rin Yojana Apply Online
Students who aspires to pursue higher studies in foreign institutions would be immensely benefited from Dr. YS Parmar Vidyarthi Rin Yojana expansion. It would ensure that financial limitations do not stand in the way of their educational aspirations. A detailed SOP will be issued in this regard by the education department shortly. After the launch of new SOP, it would be clear how to apply online for HP YS Parmar Vidyarthi Rin Yojana 2024-25. We will then update complete registration process here.Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu said that the state government has launched the Dr YS Parmar Student Loan Scheme from the financial year 2023-24 to support the eligible meritorious students of economically weaker sections. The scheme provides educational loans at an interest rate of just 1% to eligible bona-fide Himachali students.
"Our government is committed to provide quality education to all youth, and with the launch of this scheme, no deserving student in the State will be deprived of higher or professional education due to financial constraints. This decision reflects the State Government's unwavering commitment to making quality education accessible to all, regardless of economic background. The government has allocated Rs. 200 crore to support such students under this scheme," said the Chief Minister
Loans under YS Parmar Vidyarthi Rin Yojana
Students from families with an annual income below Rs. 4 lakh are eligible for loan under YS Parmar Vidyarthi Rin Yojana. This scheme will cover educational expenses such as tuition fees, boarding, lodging, books and other related costs. Students can avail loans upto Rs. 20 lakh from any scheduled bank in the state.
To address delays in disbursement, the government will maintain a corpus at the district level, overseen by the Deputy Commissioner, to release the first installment of the loan when immediate payment is needed.
Courses Covered under YS Parmar Vidyarthi Rin Yojana
The YS Parmar Vidyarthi Rin Yojana will cover students pursuing diploma and degree courses in professional and technical education. These includes courses such as engineering, medicine, management, nursing, pharmacy, law, and more. Moreover, students from ITIs, Polytechnics, and those pursuing Ph.D. programmes are even eligible.
Eligibility Criteria for YS Parmar Student Loan Scheme
- Applicant must be a student belonging to Himachal Pradesh state.
- Students must be under 28 years of age at the time of admission.
- Family income of the student must be less than Rs. 4 lakh per annum.
- Candidate must have secured atleast 60% marks in the previous class.
Grievance Redressal
CM Sukhu said that to ensure the effectiveness of implementation of YS Parmar Vidyarthi Rin Yojana and to address the irregularities, a grievance redressal officer will be appointed to address the concerns of students. This initiative is a major step to ensure that youths of Himachal Pradesh state have the opportunity to fulfill their potential and achieve their dreams.
Overview of YS Parmar Education Loan Scheme
| Name of Scheme | YS Parmar Vidyarthi Rin Yojana |
| State | Himachal Pradesh |
| Type | Education Loan |
| Who are Eligible | Himachali students who are under 28 years of age and family income < Rs. 4 lakh |
| Max. Loan Amount | Rs. 20 lakh |
| Interest Rate | 1% per annum |
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Himachal Pradesh