Himachal Pradesh government's Dr. Yashwant Singh Parmar Vidyarthi Rhin Yojana offers education loans at just 1 percent interest to students from the state. This scheme, earlier known as Mukhyamantri Vidyarthi Protsahan Yojana, helps poor students cover tuition, hostel, books and other study costs. It is part of the Himachal Pradesh government education support programs.
Under the scheme, eligible students can get education loans of up to Rs 20 lakh for higher and professional courses in India or abroad. The Directorate of Higher Education runs the scheme, and UCO Bank works as the nodal bank for processing interest subsidy claims.
Dr. Yashwant Singh Parmar Vidyarthi Rhin Yojana
The Himachal Pradesh government launched this scheme to make higher and professional education more affordable for students in the state. Named after the first Chief Minister of Himachal Pradesh, the scheme gives students education loans at a subsidised interest rate of one percent through scheduled banks operating in the state. The government pays the remaining interest as subsidy.
The scheme covers diploma and degree courses in engineering, medical, management, pharmacy, nursing, para-medical, law and other technical fields from ITIs, polytechnics and recognised institutions. Students seeking post-graduate and Ph.D. degrees from institutions recognised by AICTE, NMC, AIMA, PCI, INC, BCI and UGC can also apply.
Benefits of the Scheme
Students can avail loans up to Rs 20 lakh to meet expenses such as tuition fees, hostel charges, books and other education-related costs. The scheme covers students studying in India and abroad, and extends to fresh admissions as well as those already enrolled in eligible courses.
The main aim of the scheme is to make sure that no student in Himachal Pradesh faces difficulty in pursuing higher studies due to money problems. With the interest rate at just one percent, students can focus on their studies without worrying about heavy loan repayments.
Eligibility Criteria
Students need to meet the following conditions to apply under the scheme:
- Applicants must be bonafide residents of Himachal Pradesh.
- Annual family income should not exceed Rs 12 lakh.
- The maximum age limit is 28 years as on the date of admission or registration.
Highlights of Dr. Yashwant Singh Parmar Vidyarthi Rhin Yojana
| Detail | Information |
|---|---|
| Scheme Name | Dr. Yashwant Singh Parmar Vidyarthi Rhin Yojana |
| State | Himachal Pradesh |
| Loan Amount | Up to Rs 20 lakh |
| Interest Rate | 1 percent |
| Eligibility | Bonafide HP residents, income up to Rs 12 lakh, age up to 28 years |
| Nodal Bank | UCO Bank |
| Official Website | education.hp.gov.in |
How to Apply
Students can apply through the official website of the Department of Higher Education, Himachal Pradesh. The department has shared detailed guidelines and eligibility information on its website. Students can also check the HP Mukhya Mantri Gyandeep Yojana for loan subsidy support.
STEP 1 - Visit the official website of the Department of Higher Education at education.hp.gov.in and find the section for Dr. Yashwant Singh Parmar Vidyarthi Rhin Yojana.
STEP 2 - Read the scheme guidelines and check the eligibility rules before starting the application. The scheme details are also available in the official PDF.
STEP 3 - Fill in the application form with the required details and submit the needed documents.
STEP 4 - The Director of Higher Education reviews the applications and recommends eligible candidates to the concerned bank for the release of the first installment of the loan.
Electric Scooty Subsidy for Girl Students
Along with the education loan scheme, the Himachal Pradesh government also provides a subsidy of Rs 25,000 to 20,000 meritorious girl students above 18 years of age studying in government institutions to buy electric scooties. This helps girl students pursue higher education and supports the state's goal of becoming a green state.
FAQ's
What is the interest rate on the education loan?
The education loan under this scheme is available at a subsidised interest rate of just 1 percent. The government pays the remaining interest as subsidy.
Who can apply under this scheme?
Bonafide residents of Himachal Pradesh with an annual family income up to Rs 12 lakh and age up to 28 years can apply under the scheme.
What courses are covered under the scheme?
The scheme covers diploma and degree courses in engineering, medical, management, law, pharmacy, nursing and para-medical fields from ITIs, polytechnics and recognised institutions, along with PG and Ph.D. courses.