A new initiative named as Education Loan e Voucher Scheme 2024 have arrived to support all the students of India. The authorities have launched this Education Loan e Voucher Scheme during the fiscal budget presentation for the year 2024-25 and the announcement was made by the respected Finance Minister of India, Mrs Nirmala Sitharaman All the students who have completed their schooling (12 standards) can take loan of up to INR 10 Lakhs. The scheme supports those who belong from a financially unstable families but have a wish to pursue higher education and support is of Rs. 10 to enable students study higher in India. Below we have shared more info about this scheme, scroll down and know more.
The objective of Education Loan e Voucher Scheme
The primary objective of the authorities behind launching the scheme is to enable students to pursue higher education by providing an education loan. All the eligible students can get up to INR 10 Lakhs through this scheme. Only a 3% of interest rate per annum have been set by the government on loan amount so that students can pay their debts easily. Education Loan e Voucher Scheme is design to benefit a total of 1 lakh students under India. This scheme is not just a financial aid program, but also a step towards promoting higher education and skill development, empowering students to build successful careers.
Short Details Of Education Loan e Voucher Scheme
| Yojana Name | Education Loan e Voucher Scheme |
| Start By | Government of India |
| Goal | Provide financial assistance |
| Beneficiaries | Students of India |
| Official website |
Loan Amount and Interest Rate
Under the Education Laon e Voucher Scheme 2024 students can get loan up to 10 lakhs for their studies and the government will be apply the interest rate of 3% per annum on the loan amount under the Education Laon e Voucher Scheme 2024.
No of Students
The government has set a target of 1 Lakh students to provide with this benefit under the Education Laon e Voucher Scheme 2024.
Who Announces Education Loan e Voucher Scheme 2024?
The Minister of Finance Mrs. Nirmala Sitharaman made the announcement for Education Laon e Voucher Scheme 2024.
Date of Announcement
The announcement was made of 23 July 2024 for the Education Loan e Voucher Scheme 2024.
Benefits of the Scheme
- This scheme provides financial assistance to the students who wish to pursue higher education.
- The scheme supports students to who are financial weak to pursue their career.
- Under the scheme, only 3% percent of annual interest will be charged.
- The students in India can apply for this scheme.
- The scheme is playing a role in lifting the socio and living standards of students.
Eligibility Criteria
- The candidate must be a permanent resident of India.
- The applicant must belong from a financially unstable family.
Required Documents
- Aadhar card
- PAN card
- Address proof
- Electricity bill
- Phone number
- Email ID
Education Loan e Voucher Scheme Application Process
STEP 1: Head over to the official website to apply for the Education Loan e Voucher 2024 using the official website.
STEP 2: On the home page of the official website, locate the option as Apply here on dashboard and click on it.
STEP 3: You will be redirected to a new page, here you are required to enter the asked information carefully and correctly, plus add all the necessary documents on the application form.
STEP 4: Now lastly, search for any mistakes or errors in your entered details (if any correct them) and click on the Submit option.
FAQs
What can the loan be used for?
It can cover tuition fees, accommodation and other education expenses.
How many students will be benefited from this scheme?
The scheme will benefit 1 lakh students across India.