Punjab Newsline, Shimla-
The state government has launched Dr. Yashwant Singh Parmar Vidyarthi Rhin Yojna, an interest subsidy educational loan scheme designed to support bonafide Himachali students pursuing professional, technical and higher education courses in recognized institutions. The scheme aims to ensure that no youth of the state is deprived of educational opportunities due to financial limitations.
A spokesperson of the Higher Education department informed that under this scheme, eligible students can avail education loans through scheduled banks located in Himachal Pradesh at a highly subsidized interest rate of just one percent. The loan facility is available for diploma and degree courses in engineering, medical, management, para-medical, pharmacy, nursing, law and other technical fields offered by ITIs and Polytechnics. The students can also avail the loan for post-graduation and Ph.D. from institutions recognized by bodies such as AICTE, NMC, AIMA, PCI, INC, BCI, UGC etc.
He informed that the scheme covers students seeking to pursue education both in India and abroad and is applicable for fresh admissions as well as students already enrolled in recognized courses. Under the scheme, students can avail loans up to Rs. 20 lakh to meet expenses including tuition fees, boarding and lodging, books and other education-related costs. The annual family income of the applicant should not exceed Rs. 12 lakh. The maximum age limit to apply for the loan is 28 years as on the date of admission or registration.
UCO Bank has been designated as the nodal bank for the scheme, with its main branch at The Mall, Shimla, authorized to process interest subsidy claims for the Higher Education Department. For detailed guidelines students can visit the department’s official website: https://education.hp.gov.in/.