PM Vidyalaxmi Scheme: Up to ₹16 Lakh Collateral-Free Education Loan for Students

• Central government's PM Vidyalaxmi Scheme offers collateral-free, guarantor-free education loans up to ₹16 lakhs for merit-admitted students.
• Approved in November 2024, the scheme targets 22 lakh students annually, covering fees, hostel, laptop, and living expenses.
• Eligibility requires Indian citizenship, merit admission to 860+ Quality Higher Education Institutions (QHEIs), and income criteria for interest subsidies.
• Benefits include low interest rates, a 15-year repayment period after a 1-year moratorium, and a fully digital application process via pmvidyalaxmi.co.in.
• Students from Hyderabad, Telangana, and Andhra Pradesh attending institutions like IIT, IIM, JNTU, IMT Hyderabad, and AIIMS Bibinagar can greatly benefit.