Himachal government expands loan scheme for global education. Details here

Following the Himachal Pradesh Cabinet's approval to extend Dr YS Parmar Vidyarthi Rin Yojna for overseas education, Chief Minister Sukhvinder Singh Sukhu announced that a detailed SOP would be released soon.

In Short

• Himachal expands Dr YS Parmar Vidyarthi Rin Yojna to overseas education
• Eligible students can now avail loans up to Rs 20 lakh at 1% interest
• Students from families earning below Rs 4 lakh annually qualify for the scheme

A few days after the Himachal Pradesh Cabinet approved the extension of benefits under Dr YS Parmar Vidyarthi Rin Yojna to support overseas education, Chief Minister Sukhvinder Singh Sukhu announced on Sunday that a detailed standard operating procedure (SOP) would soon be released regarding the scheme.

On Friday, the state cabinet approved expanding the scheme, which offers educational loans of up to Rs 20 lakh at an interest rate of one percent to eligible students pursuing professional and vocational courses. The revised scheme will also cover students aspiring to study at overseas educational institutions.

The state cabinet, on Friday, approved the expansion of a scheme that provides educational loans of up to Rs 20 lakh at a one percent interest rate to eligible students pursuing professional and vocational courses. The extended scheme will now also support students aiming to study at overseas educational institutions.

He added that a detailed SOP regarding this will soon be issued by the education department. The state government introduced the loan scheme last year to assist meritorious students from economically weaker sections. Students from families with an annual income of less than Rs 4 lakh are eligible for the loan.

"Our government is committed to provide quality education to all youth and with the launch of this scheme, no deserving student in the state will be deprived of higher or professional education due to financial constraints."

"This decision reflects the state government's unwavering commitment to making quality education accessible to all, regardless of economic background. The government has allocated Rs 200 crore to support such students under this scheme," Chief Minister Sukhvinder Singh Sukhu was quoted as saying by news agency PTI.

Sukhu also mentioned that a grievance redressal officer will be appointed to address students' concerns, ensuring effective implementation of the scheme.