Education Loan Scheme by Narendra Modi 2025 For Students: The education loan scheme under Prime Minister Narendra Modi government are run through Credit Guarantee Fund Scheme for Education Loans (CGFSEL). All those who are interested and eligible and wants to avail the benefits of Education Loan Scheme by Narendra Modi govt. Then you need to check out all the required details and schemes that help you to get education loan without facing and providing much documents.
Government of India has created official portal Vidya Lakshmi, which is a dedicated platform where you can submit your application form and check all the eligibility requirements. This portal is a designed in such a way that no student will miss out the higher education due to lack of money. Under Vidya Lakshmi education loan scheme student can get up to 7.5 without any collateral (no need to give property, gold, or documents as security). This lawn will be given through banks and is meant for the studies in India and abroad.
Education Loan Scheme by Narendra Modi 2025
Education is a one of most important key for successful future. But in India there are many students who faces biggest challenges like financial troubles. And they are not able to pay Tuition fees, books, hostel charges, and other expenses. There are many students who belongs to poor families or middle class family and not able to afford the expense of their higher education. To solve this problem Prime Minister Narendra Modi and government of India has started different education loan schemes to help students to get easy and affordable loans to complete their education.
In this blog, we will explain each and every single information about Education Loan Scheme supported by Narendra Modi government. Also know about how it works, who can apply, how much loan you can get, interest rates, repayment time, and how to apply.
Overview:
| Feature | Details |
|---|---|
| Scheme Name | Credit Guarantee Fund Scheme for Education Loans (CGFSEL) |
| Launched By | Ministry of Finance, Govt. of India |
| Main Platform | Vidya Lakshmi Portal |
| Loan Amount | Up to ₹7.5 lakh (without collateral) |
| Eligible Courses | Graduation, post-graduation, diploma, professional courses |
| Interest Subsidy Available | Yes (for economically weaker students) |
| Repayment Period | Up to 15 years |
| Moratorium Period | Course duration + 1 year |
| Where to Apply | https://www.vidyalakshmi.co.in |
What Is the Vidya Lakshmi education loan Scheme?
The education loan scheme under Prime Minister Narendra Modi government to support education loans through vidya lakshmi portal launched in 2015. Credit Guarantee Fund Scheme for Education Loans (CGFSEL) launched with a primary objective under the ministry of finance and government of India. The Eligible applicant will get education loan for graduation post graduation diploma and professional courses.
The Vidya Lakshmi Portal was launched by the Modi government with simple process easier and faster with single window platform there students can apply through multiple banks and track their loan status.
Who Can Apply?
There are some eligibility requirements that you need to fulfill.
- First of all candidate who have completed 10 + 2 or its equivalent.
- Candidate wants to study in India or abroad.
- Candidate has a confirmed admission letter.
- Come from family income less than 4.5 lakh per year.
How Much Loan Can You Get?
From the below table you will get a complete idea about loan amount.
| Course Location | Loan Amount (without collateral) | Loan Amount (with collateral) |
|---|---|---|
| In India | Up to ₹7.5 lakh | Above ₹7.5 lakh |
| Abroad | Up to ₹7.5 lakh | Above ₹7.5 lakh |
Interest Rates
Interest rate depend upon bank to bank such as:
- Around 8.5% to 10.5% per annum
- For girls and reserved category students, some banks offer 0.5% concession
- Under the Interest Subsidy Scheme, the government pays your interest during the course + 1 year moratorium
What Is Moratorium Period?
Moratorium means a time when you don’t have to repair the loan, in this scheme you will get the following:
- Course duration + 1 year as moratorium
- After this period, your repayment starts in EMIs
- For example: If your course is for 3 years long you will get 3 + 1 (4 years) as moratorium.
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How to Vidya Lakshmi education loan Scheme?
There are some simple steps through which you are able to submit your application through vidya Lakshmi portal.
- First of all candidate needs to visit the official website.i.e. https://www.vidyalakshmi.co.in.
- On the home page you need to complete your registration.
- Enter your name, mobile number, email address, and set a password.
- Log in and fill the Common Education Loan Application Form (CELAF)
- Provide your course details, fees, and Bank preferences.
- Now you can select up to three banks from the list to send your application.
- Now you need to wait for and bank will contact you
Documents Required
Keep these documents ready:
- Aadhar card
- PAN Card
- Address proof
- 10th and 12th marksheets
- Admission letter from college/institute
- Fee structure of the course
- Passport (for studying abroad)
- Income certificate of parents (for subsidy)
- Bank account details
Conclusion:
The education loan scheme by Narendra Modi 2025 is a great benefit provided to Indian students. This makes higher education more accessible and affordable specially for those who comes from lower income families. With the help of education loan scheme students cannot dream big and can complete their education in engineering, medicine, MBA, or even studying abroad. If you are a student who dream wig but not enough money then don’t worry PM Modi government has created a path for you. You just need to visit vidya lakshmi portal and apply for the loan start your educational journey towards the success.
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