New Delhi. College fees, hostel expenses and book prices sometimes make further studies difficult even for students who score good marks. It is not easy to bear the expense of higher education especially for those families whose income is limited. In such a situation, instead of leaving studies midway, students can take help of some schemes of the Central Government. In some of these schemes, interest relief is provided on education loan, while in others, direct financial assistance is given.
1. Facility of loan without guarantee for studies
PM Vidya Lakshmi Yojana can be useful for students seeking financial help for higher education. Under this, eligible students are given the facility to take education loan without mortgage of property and guarantee after getting admission in selected higher educational institutions.
Under this scheme, if the annual income of the family is up to Rs 4.5 lakh, eligible students can get the entire interest subsidy as per the prescribed conditions. There is a provision of 3 percent interest subsidy on loans up to Rs 10 lakh for eligible students with family income up to Rs 8 lakh. Apart from this, 75 percent credit guarantee facility is also provided on loans up to Rs 7.5 lakh.
2. You can get Rs 12,000 every year after 12th
Pradhan Mantri Uchchatar Shiksha Protsahan Yojana (PM-USP CSSS) is run for meritorious students taking admission in college. Its objective is to help talented students from economically weaker families to continue their studies.
Under this scheme, a scholarship of Rs 12,000 is available every year for the first three years of graduation. This assistance becomes Rs 20,000 annually during post graduation. There is a provision of giving Rs 20,000 per year in the fourth and fifth years of five-year professional courses. For this, it is necessary to be ranked in the top 20 percent of the successful students of the respective board in 12th and the annual family income should be up to Rs 4.5 lakh.
3. PM Yashasvi for OBC, EBC and DNT students
PM Yashasvi Yojana has been started to provide better education opportunities to students from socially and economically backward classes. Under this, eligible OBC, EBC and DNT students are given financial assistance at different educational levels.
Class 9th students can get annual scholarship up to Rs 75,000 and class 11th students can get scholarship up to Rs 1.25 lakh. There are separate scholarship schemes available for eligible students at the college level also. To get assistance, the conditions of relevant category, income and educational qualification have to be fulfilled.
4. UGC Scholarship for Post Graduation
UGC's National Scholarship for Post Graduate Studies is an option for students pursuing a master's degree after graduation. Under this, there is a provision to provide assistance to about 10,000 students every year on the basis of merit.
Students selected in this scheme can get a total scholarship of up to Rs 3 lakh during the two-year course. To apply, the candidate must be below 30 years of age and enrolled in a regular post graduation course.
Keep these things in mind before applying
The objective of these four schemes is to help students of different categories to access higher education. However, the application process, income limit and selection rules are different in all the schemes. Therefore, students must check the official conditions of the concerned scheme before applying. For information related to scholarship, the National Scholarship Portal and the website of the Ministry of Education can be seen.