The Himachal Pradesh government has launched the Dr Yashwant Singh Parmar Vidyarthi Rhin Yojana, an interest subsidy education loan scheme designed to support bonafide Himachali students pursuing professional, technical and higher education courses in recognised institutions.
The scheme aims to ensure that no youth in the state is deprived of educational opportunities due to financial limitations.
A spokesperson for the Higher Education Department said under this scheme, eligible students can avail education loans through scheduled banks located in Himachal Pradesh at a highly subsidised interest rate of just one percent. The loan facility is available for diploma and degree courses in engineering, medical, management, para-medical, pharmacy, nursing, law and other technical fields offered by ITIs and Polytechnics. Students can also avail the loan for post-graduation and Ph.D. from institutions recognised by bodies such as AICTE, NMC, AIMA, PCI, INC, BCI and UGC.
He said the scheme covers students seeking to pursue education both in India and abroad and is applicable for fresh admissions as well as students already enrolled in recognised courses. Under the scheme, students can avail loans up to Rs 20 lakh to cover expenses, including tuition fees, boarding and lodging, books and other education-related costs. The annual family income of the applicant should not exceed Rs 12 lakh. The maximum age limit to apply for loan is 28 years as on the date of admission or registration.
UCO Bank has been designated as the nodal bank for the scheme, with its main branch at The Mall, Shimla authorised to process interest subsidy claims for the Higher Education Department. For detailed guidelines, students can visit the department’s official website: https://education.hp.gov.in/.
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