Mukhyamantri Vidyarthi Protsahan Yojna’ providing educational loans to underprivileged students at the rate of 1% to enable them pursue higher and professional studies will be launched in the current financial year, according to Sukhvinder Singh Sukhu, chief minister, Himachal Pradesh . The state government has proposed Rs 200 crore under the scheme which aims to provide eligible poor children (families having income of less than Rs three lakh per annum) with education loans through financial institutions or banks at an interest rate of 1%, according to an official statement.
The loan aims to help the students cover the charges of tuition, accommodation, books, and other allied expenses associated with their education, it said. The scheme covers a wide range of professional courses, including engineering, medical, management, PhD courses from ITIs, Polytechnic, B Pharmacy, nursing, General Nursing and Midwifery (GNM), among others, the statement mentioned.
“The main objective of the scheme is to ensure that no poor child in the state is deprived of higher and professional education for want of financial resources,” the statement said. Sukhu said one per cent interest rate is to instil a sense of responsibility among the beneficiaries so that they have the motivation to achieve their aim.
Furthermore, a subsidy of Rs 25,000 will be provided to 20,000 meritorious girl students, above 18 years of age, studying in government institutions, to purchase electric scooters. The move will not only encourage the girl students to pursue higher education, but also help to develop Himachal Pradesh as a “green state”, the statement added.
With inputs from PTI.