The Dr. Y.S. Parmar Vidyarthi Rin Yojna is an education loan scheme launched by the Himachal Pradesh government to support eligible meritorious students from economically weaker sections.
The scheme provides financial assistance in the form of interest subsidy on education loans availed from scheduled banks located in Himachal Pradesh.
Key features of the scheme:
* Interest rate: Eligible students can avail education loans at a subsidized interest rate of 1%.
* Eligibility:
* Bonafide Himachali students
* Minimum 60% marks in the previous class
* Pursuing Diploma and Degree courses in Professional and Technical Education such as Engineering, Medical, Management, Para-Medical, Pharmacy, Nursing, Law, etc.
* Pursuing Technical courses from ITIs/Polytechnics
* Pursuing Ph.D. from recognized institutions/universities
* Loan amount:
The maximum loan amount is determined based on the course and institution.
* Repayment:
Repayment of the loan starts after the completion of the course or after securing employment, whichever is earlier.
How to apply:
* Contact a Scheduled Bank:
Approach a scheduled bank located in Himachal Pradesh to apply for the education loan.
* Submit Required Documents:
Provide the necessary documents, including academic certificates, income certificates, and other relevant documents.
* Bank Verification:
The bank will verify the eligibility of the applicant and the course details.
* Loan Sanction:
Upon verification, the bank will sanction the loan at the subsidized interest rate.
Important Note:
The specific guidelines and eligibility criteria may vary, so it is advisable to contact the concerned authorities or visit the official website of the Himachal Pradesh government for the latest information.
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