Himachal to launch education loan scheme for underprivileged students at 1 pc interest

A subsidy of Rs 25,000 will be provided to 20,000 meritorious girl students

ITDC INDIA EPRESS/ ITDC NEWS : Himachal Pradesh Chief Minister, Sukhvinder Singh Sukhu, has announced the launch of a scheme that aims to provide education loans at a one percent interest rate to underprivileged students pursuing higher and professional studies in the current financial year.

The 'Mukhyamantri Vidyarthi Protsahan Yojna' proposes an allocation of Rs 200 crore to offer financial support to families with an annual income of less than Rs 3 lakh.

The loans will be provided through financial institutions or banks and will cover tuition fees, accommodation, books, and other related expenses. The scheme will encompass a variety of professional courses such as engineering, medical, management, PhD courses, among others.

"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 stated.

Sukhu said one per cent interest rate is to instill a sense of responsibility among the beneficiaries so that they have the motivation to achieve their aim.

He also said that 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 scooties.

The move will not only encourage the girl students to pursue higher education, but also help to develop Himachal Pradesh as a "green state".