SSLC : Education Loan up to Rs 5 lakh for poor and middle class students

SSLC : For many students in India, the dream of pursuing higher education is often limited by financial constraints. Tuition fees, books, accommodation and transportation costs can be prohibitive, especially for families with limited income. To bridge this gap, the Pradhan Mantri Vidya Lakshmi Scheme (PM VLS) offers a promising solution – educational loans without collateral.

Launched by the Government of India, the PM Vidya Lakshmi Scheme 2025 is a student-friendly initiative aimed at ensuring that financial constraints do not become a barrier to higher education. The scheme helps eligible students avail educational loans of up to ₹10 lakh through a single online platform – the Vidya Lakshmi portal.

Key Features of PM Vidya Lakshmi Scheme 2025

Loan without collateral: Students from economically weaker sections can avail loans of up to ₹7.5 lakh without the need for a guarantor or collateral.

Simple online process: Applications can be submitted through a centralized online platform – www.vidyalakshmi.co.in
. Students can apply to three banks at once by filling one application.

Loan categories:

Loans are sanctioned in three categories:

Up to ₹4 lakh

₹4 lakh to ₹7.5 lakh

More than ₹7.5 lakh

Low interest rates: Interest rates are very low and loans are approved within 15 working days if all documents are in order.

No processing fee:
Banks do not charge any processing fee for loans under this scheme, which makes it accessible and affordable.

Who is eligible?

• To apply under PM Vidya Lakshmi Scheme 2025, students must meet the following eligibility criteria:
• Annual family income should be less than ₹4 lakh.
• Applicant must be pursuing a professional or higher education course (Engineering, Medicine, Management or International Studies).
• Must have passed the qualifying course (10th, 12th, or degree) not more than a year before applying.

Applicant must have:
10th and 12th mark sheets

Latest pass certificate

Proof of admission to the next course

Family income certificate

Aadhaar card

Valid bank account details

Courses covered

The scheme covers undergraduate, postgraduate and professional courses in India and abroad. Medical, engineering, law and management students are especially encouraged to apply. Tuition, hostel fees, books, equipment and travel expenses (for foreign studies) are also included in the loan coverage.

Step-by-step application process

Visit the portal Go to www.vidyalakshmi.co.in

Register
Use your name, phone number, email ID and address to create an account.

Fill CELAF Fill the Common Education Loan Application Form (CELAF) with your educational, personal and income details.

Upload required documents
Attach mark sheets, admission letters, income proof and other required documents.

Select banks
Select up to three banks from which you wish to apply for a loan.

Track the application Monitor the status of your application through your personal dashboard. The loan approval or rejection status is usually updated within 15 days.