PM Vidyalaxmi Scheme: IIMs, IITs, NITs, AIIMS Aspirants Can Get Collateral Free Education Loan, Check Eligibility, Top Colleges
Pradhan Mantri Vidyalaxmi Scheme is a Central Government initiative aimed at provide financial support to students pursuing higher education. Read the article below to know the important highlights, eligibility criteria, how to apply, top colleges, etc.
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Key Points
- Scheme offers collateral-free, guarantor-free education loans for top Indian institutes.
- Eligibility includes Indian citizens, merit admission, and family income up to INR 8 lakh.
- A 3% interest subvention is available; apply online via the PM Vidyalaxmi portal.
PM Vidyalaxmi Scheme: Government of India has launched the Pradhan Mantri Vidyalaxmi scheme, for students seeking quality higher education in India. According to the scheme, students can avail collateral free, guarantor free education loans if they wish to pursue higher education from India’s top institutes including IIMs, IITs, NITs, AIIMS, etc.
The Central government aims to provide quality education to students from lower financial backgrounds and ensure that financial constraints do not prevent the meritorious students from pursuing quality higher education across India. The scheme is available for the colleges and universities listed under Quality Highed Educational Institutions, QHEIs. 860 QHEIs have been listed under the scheme. Students have to fulfil various eligibility criterias to avail the loans and secure admissions to these colleges. Read the article below to know PM Vidyalaxmi scheme eligibility, colleges, how to applyetc.
PM Vidyalaxmi Scheme Eligibility
The students have to fulfil the eligibility criteria in order to avail an educational loan under PM Vidyalaxmi scheme:
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Candidates must have a citizenship of India
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Candidates should secure admission to the listed QHEIs through merit
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Candidates admitted through management quota or a similar quota will not be eligible
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Candidates with an annual family income of INR 8 lakh or lower are eligible
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3% interest subvention will be applicable only if the family income matches the above criteria
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Candidates should not be receiving any other Central or State government scholarships or subvention scheme or fee reimbursement
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Candidates should not discontinue the course mid way or be expelled from the institute because of disciplinary action or academic misconduct.
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Candidates should maintain the academic record and performance to avail interest subvention in the second year
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The interest subvention of the scheme is applicable only once either in graduation or postgraduation.
For the QHEIs, they should be ranked in top 100 higher education institutes in overall, category-specific and/or domain specific NIRF rankings published by the Ministry of Education.
Or, they should be ranked among the top 200 higher education institutes under the governance of state/UT governments in NIRF rankings.
All HEIs under the Government of India are eligible for participation.
Top Colleges Covered Under PM Vidyalaxmiu Scheme
The PM Vidyalaxmi scheme is applicable to various central government, state government and private colleges in India. These include:
| Name of the College | State |
| Indian Institute Of Technology, Tirupati | Andhra Pradesh |
| Indian Institute Of Technology Guwahati | Assam |
| Indian Institute Of Technology Patna | Bihar |
| Indian Institute Of Technology Bhilai | Chhattisgarh |
| Indian Institute Of Technology Delhi | Delhi |
| Indian Institute Of Technology, Goa | Goa |
| Indian Institute Of Technology Gandhinagar | Gujarat |
| Indian Institute Of Technology Mandi | Himachal Pradesh |
| Indian Institute Of Technology Jammu | Jammu And Kashmir |
| Indian Institute Of Technology (Indian School Of Mines) Dhanbad | Jharkhand |
| Indian Institute Of Technology, Dharwad | Karnataka |
| Indian Institute Of Technology, Palakkad | Kerala |
| Indian Institute Of Technology Indore | Madhya Pradesh |
| Indian Institute Of Technology Bombay | Maharashtra |
| Indian Institute Of Technology, Bhubaneshwar | Odisha |
| Indian Institute Of Technology Ropar | Punjab |
| Indian Institute Of Technology Jodhpur | Rajasthan |
| Indian Institute Of Technology Madras | Tamil Nadu |
| Indian Institute Of Technology Hyderabad | Telangana |
| Indian Institute Of Technology Kanpur | Uttar Pradesh |
| Indian Institute Of Technology (Banaras Hindu University) Varanasi | Uttar Pradesh |
| Indian Institute Of Technology Roorkee | Uttarakhand |
| Indian Institute Of Technology Kharagpur | West Bengal |
| AIIMS, Bilaspur | Himachal Pradesh |
| AIIMS, Vijaypur | Jammu and Kashmir |
| AIIMS, Bhatinda | Punjab |
| AIIMS, Bibinagar | Telangana |
| NIT, Andhra Pradesh | Andhra Pradesh |
| NIT, Arunachal Pradesh | Arunachal Pradesh |
| NIT, Silchar | Assam |
| NIT, Patna | Bihar |
| NIT, Raipur | Chattisgarh |
| NIT, Delhi | Delhi |
| NIT, Goa | Goa |
| National Institute Of Technology, Kurukshetra | Haryana |
| National Institute Of Technology, Hamirpur | Himachal Pradesh |
| National Institute Of Technology, Srinagar | Jammu and Kashmir |
| National Institute Of Technology, Jamshedpur | Jharkhand |
| National Institute Of Technology Karnataka, Surathkal | Karnataka |
| National Institute Of Technology Calicut | Kerala |
| National Institute Of Technology Manipur | Manipur |
| National Institute Of Technology Meghalaya | Meghalaya |
| National Institute Of Technology Mizoram | Mizoram |
| National Institute Of Technology Nagaland | Nagaland |
| National Institute Of Technology Rourkela | Odisha |
| National Institute Of Technology Puducherry | Puducherry |
| National Institute Of Technology Sikkim | Sikkim |
| National Institute Of Technology Tiruchirappalli | Tamil Nadu |
| National Institute Of Technology Warangal | Telangana |
| National Institute Of Technology Agartala | Tripura |
| National Institute Of Technology Uttarakhand | Uttarakhand |
| National Institute Of Technology Durgapur | West Bengal |
Got admission to your dream Institute? But thinking about the fees?
— Ministry of Education (@EduMinOfIndia) August 4, 2026
DON'T WORRY!
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How to Apply for PM Vidyalaxmi Scheme
To apply for the PM Vidyalaxmi Scheme, students have to visit the PM Vidyalaxmi portal and register online. The students can register, submit their documents such as academic records, admission proof, etc., loan applications and track the status through the candidate portal. Follow the steps mentioned below to know how to register for PM Vidyalaxmi Scheme:
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Go to the official website of Pradhan Mantri Vidyalaxmi
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Create an account on the portal and register by clicking the Student Registration link
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Enter required details such as name, Aadhar card number, mobile number, address, college name, email ID, etc. and follow the instructions given
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Re login using the user ID and password received on the registered email ID and mobile number
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Now, click on Apply for Education Loan and fill in all the information required
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Upload the necessary documents in prescribed format and size
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Choose the preferred bank and finally submit and take a printout of the acknowledgement letter.
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Saumya is an education journalist. with over 9 years of editorial experience. Saumya is the Chief Sub Editor at Jagran Josh. She has spent more than 6 years in creating research, student-friendly, and SEO-optimized educational content. She has the ability to transform complex information into easy-to-understand language.In her previous role at Shiksha, she created content for several management entrance exams, including CAT, XAT, and CUET. Besides this, she enjoys makeup artistry and cooking in her spare time.
