A ray of hope shines upon students in Himachal Pradesh as Chief Minister Sukhvinder Singh Sukhu announced a remarkable opportunity for those with modest means. Under the Mukhya Mantri Vidyarthi Protsahan Yojna, students from families with an annual income of less than Rs 4 lakh can now apply for an education loan. The loan amount extends to Rs 20 lakh, empowering students to pursue higher studies and unlock their potential.

With an age limit of 28 years, aspiring scholars can avail themselves of this loan at a nominal interest rate of one percent, as revealed by the Chief Minister in a statement. The loan encompasses various expenses vital to the educational journey, encompassing boarding, lodging, tuition fees, books, and other related costs.

This visionary scheme, amounting to Rs 200 crore, was unveiled in the first budget of the Congress government and subsequently received cabinet approval. To be eligible, students must have secured a minimum of 60 percent marks in their previous classes and aim to pursue diplomas and degrees in professional and technical education.

It is important to note that this facility does not apply to students engaged in correspondence or online courses. The scheme particularly caters to full-time programmes, delivering support to those who actively engage in traditional academic settings.

To apply, students can use an online registration platform to submit all the necessary documents. If deemed eligible, the Director of Higher Education will endorse their application to the respective bank for releasing the first loan installment. In the interim, until the online portal is fully operational, candidates may fill out a prescribed proforma and send the scanned documents via email to the Director of Higher Education, ensuring a smooth application process.