Students can check the PM Vidyalaxmi Scheme College List as ranked by the National Institutional Ranking Framework (NIRF). The process involves a few steps at the official portal, and one can get the top-ranked college list for the PM Vidyalaxmi Scheme. The PM Vidyalaxmi scheme initially includes 860 top-ranked quality higher education institutions in India. It is estimated that more than 22 lakh students will be able to get admission to these institutions every year. All students getting to these QHEIs would receive financial support in the form of education loans under the PM Vidyalaxmi Scheme. Read below to check the entire details about how you can check and download the PM Vidyalaxmi Scheme College list.
About the PM Vidyalaxmi Scheme
PM Vidyalaxmi scheme got the union cabinet’s nod on November 6, 2024. This is a central sector scheme launched under the Department of Higher Education, Government of India. The scheme will provide education loans to deserving students in top-ranked 860 universities and colleges in India. Under Pm Vidyalaxmi, eligible students can avail of an education loan facility up to INR 10.00 lakhs.
Students whose annual family income is not more than 4.5 lakhs can avail of loans with full interest subvention. Furthermore, those students whose annual family income is up to INR 8.00 lakhs can also benefit interest subvention of 3% on loans up to INR 10.00 lakhs.
Education loans under the PM Vidyalaxmi scheme would be provided without collateral and without a guarantor. Besides, the government of India will also support with a 75% credit guarantee on behalf of students. The scheme will potentially support 22 lakh students with education loans every year. The scheme will be operational from the financial year 2024-25 to FY 2030-31. During the scheme duration, the government will focus on achieving goals as envisaged in the New Education Policy 2020.
PM Vidyalaxmi Scheme College List Details in Summary
| Name of Article | PM Vidyalaxmi Scheme College List |
|---|---|
| Scheme Name | PM Vidyalaxmi scheme |
| Concerned Government | Government of India |
| Department | The department of higher education |
| Scheme type | Education Loan Scheme |
| Budget allocation | INR 3600 crores |
| Loan Availability | Up to INR 10.00 lakhs |
| Beneficiaries | Merited students of India |
| Colleges included | 860 quality higher educational institutions (QHEIs) |
| How to find Colleges | Online |
| Official website | https://www.nirfindia.org/ |
What is NIRF?
NIRF stands for National Institutional Ranking Framework. It works in collaboration with the Ministry of Education, government of India. NIRF works on five parameters to decide rankings of educational institutions in India. Those parameters are (1) Teaching, Learning, & Resources (2) Research and Professional Practice (3) Graduation Outcomes (4) Outreach and Inclusivity, and (5) Peer Perception. These are the main parameters employed to decide rankings of quality higher educational institutions in India. Moreover, these parameters include various sub-parameters for respective disciplines. The NIRF publishes ranking lists on its official website, which is nirfindia.org. Students can visit the portal and check the top 100 ranked institutions. This website can also be explored to get information about the PM Vidyalaxmi Scheme college list.
Benefits of PM Vidyalaxmi Scheme
The PM Vidyalaxmi scheme is a central sector education loan scheme that aims to sanction loans to students for the purpose of receiving higher education in selected quality higher education institutions. The following benefits can be availed of from the PM Vidyalaxmi Scheme.
- Education loan facility is available for meritorious students under PM Vidyalaxmi.
- Deserving candidates can apply for loans ranging from INR 7.5 lakh to INR 10.00 lakh.
- Candidates with annual household income not more than ₹ 4.5 lakh will be provided loans with full interest subvention.
- Candidates with annual family income up to ₹ 8.00 lakh will also be supported with interest subvention of 3%.
- The Government of India would provide credit support of about 75% on these loans.
- Every year, more than 22 lakh students can avail of Vidyalaxmi loans for educational purposes.
Key Features
- This is a central sector scheme 100% supported by the government of India under the Department of Higher Education.
- The scheme will be operational from the financial year 2024-25 to FY 2030-31 in its first phase.
- The scheme would initially include 860 educational institutions based on the rankings of the National Institutional Ranking Framework (NIRF).
- The Department of Higher Education would see the scheme implementation and maintain a dedicated portal.
- The integrated portal will facilitate a simplified application process for loan applications and interest subvention.
PM Vidyalaxmi Scheme College List Preparation
PM Vidyalaxmi Scheme College List would be prepared as per the rankings published by the National Institutional Ranking Framework (NIRF) under the Ministry of Education. The list would initially include a total of 860 quality higher educational institutions in India. It would be composed of all higher educational institutions (HEIs), both government and private, that are ranked within the top 100 in NIRF in overall, category-specific, and domain-specific rankings. Besides, all state government HEIs ranked in 101-200 in NIRF would be included. Apart from these, all central government-governed institutions would be eligible for the PM Vidyalaxmi Scheme.
Students’ Eligibility
Students fulfilling the below-given criteria would be eligible to apply for Vidyalaxmi Education Loan under the scheme.
- The candidate must be an Indian citizen.
- The candidate must have secured admission in top-ranked, quality higher educational institutions in India.
- The candidate’s annual family income should be up to INR 4.50 lakh in order for full interest subvention.
- Those whose annual family income is up to INR 8.00 lakh are eligible for 3% interest subvention under the scheme.
- Students securing admission for technical/professional courses would be given preferences.
Steps to Download PM Vidyalaxmi Scheme College List online
All candidates who aspire to check the entire list of colleges for the PM Vidyalaxmi Scheme are required to follow the below-given steps.
- To check the PM Vidyalaxmi Scheme College List, visit the official website of NIRF.
- The home page of the website will appear on your screen.
- On the home page, click on the Ranking option and click again on year, i.e., 2024.
- You will land on a new page.
- On this page, you will find lots of options, such as Overall, Universities, Colleges, Research Institutions, Management, Engineering, etc., as can be seen in the below-given image.
- You can click on the option that suits your stream.
- On the next page, you will have PDF links to related institutions.
- You can download the same on your device by clicking the link.
- By doing the above steps, you can download the PM Vidyalaxmi Scheme College list in PDF format.
- Remember that only the top 100 ranked institutions from each faculty would be part of the PM Vidyalaxmi Scheme College List.
Important FAQs
When was the PM Vidyalaxmi Scheme announced?
PM Vidyalaxmi scheme got approval from the union cabinet on 6th of November 2024.
What would be the scheme duration?
The scheme would be in operation from the financial year 2024-25 to FY 2030-31.
What benefits will be provided to students under the PM Vidyalaxmi Scheme?
The scheme would provide collateral-free guarantor-free education loans to meritorious students in India. It would benefit 22 lakh students every year with simple education loans.
Who will prepare PM Vidyalaxmi Scheme College List?
A list of eligible educational institutions would be prepared by the Higher Education Department, government of India.
How to Download PM Vidyalaxmi Scheme College List PDF?
One can download the top-ranked college list for PM Vidyalaxmi online from the official website of NIRF.
What is the official website of NIRF?
The official website of NIRF is: https://www.nirfindia.org/