Dr. Y. S. Parmar Vidyarthi Rin Yojna Education Loans up to ₹20 Lakh at a Nominal Interest rate of 1%


The Government of Himachal Pradesh has introduced a new scheme called Dr. Y. S. Parmar Vidyarthi Rin Yojna. This scheme offers education loans up to ₹20 lakh at a nominal interest rate of 1% to the state’s students. It aims to help students who are facing financial constraints pursue higher or professional education. The Chief Minister of Himachal Pradesh, Sukhvinder Singh Sukhu, announced the scheme on August 28, 2023.

Students with an annual family income of less than ₹4 lakh and are interested in pursuing diploma and degree programmes in professional and technical education are eligible for the loan. The scheme applies to students who are natives of Himachal Pradesh and have secured 60% marks in the previous class. Also, the applicant must be under 28 years of age on the date of registration and admission.

Dr. Y. S. Parmar Vidyarthi Rin Yojna Education Loans
Dr. Y. S. Parmar Vidyarthi Rin Yojna Education Loans
AboutDetails
Name Of the StateHimachal Pradesh
Name of the Scholarship SchemeDr. Y. S. Parmar Vidyarthi Rin Yojna
ProviderDepartment of Higher Education, Government of Himachal Pradesh
BeneficiariesStudents of Himachal Pradesh
Maximum Loan Amount₹20 lakh
Interest Rate1%
Eligible CoursesProfessional/Technical
Engineering
Medicine
Management
Paramedical
Pharmacy
Nursing
Law
Technical courses from Industrial Training Institutes (ITIs)
PhD programs from recognised educational institutions and universities
Official Websitehpepass.cgg.gov.in
DeadlineNot Available

Under this scheme, eligible students can avail of education loans up to ₹20 lakh from any scheduled bank within the State of Himachal Pradesh. The loan covers various expenses, including accommodation, tuition fees, textbooks, and other related costs.

The scheme also includes the establishment of a corpus that the district’s Deputy Commissioner will oversee. This fund will address concerns where immediate deposits are necessary, but banks require time to release the first instalment of money.

To apply for the scheme, students must register on the Higher Education Department’s ePASS portal at hpepass.cgg.gov.in and upload the necessary documents per the scheme’s requirements. The scheme applies to diploma or degree programs in professional and technical fields such as engineering, medicine, management, paramedical, pharmacy, nursing, law, technical courses from Industrial Training Institutes (ITIs), and PhD programs from recognised educational institutions and universities.

The Chief Minister has also highlighted plans to develop a mechanism for regularly evaluating the scheme’s outcomes, ensuring its effectiveness, and monitoring the students’ progress.

In summary, Dr Y. S. Parmar Vidyarthi Rin Yojna is a scheme introduced by the Himachal Pradesh Government that offers education loans up to ₹20 Lakh at a nominal interest rate of 1% to eligible students. The scheme covers various expenses, including accommodation, tuition fees, textbooks, and other related costs. The scheme applies to students who are natives of Himachal Pradesh, have secured 60% marks in the previous class, and have an annual family income of less than ₹4 lakh. To apply, students must register on the Higher Education Department’s ePASS portal at hpepass.cgg.gov.in and upload the necessary documents per the scheme’s requirements.

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Jnanabhumi AP

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