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Vidyalakshmi Scheme Eligibility Criteria on Education Loan

What are the Eligibility Criteria for Vidyalakshmi Scheme on Education Loan?

The Vidyalakshmi education loan scheme provides students with access to education loan-related information from a single platform. Learners can get complete information on education loans from different lenders on this central IT-based portal.

They can also apply for the advance with multiple lending institutions via one CELAF, the Vidyalakshmi loan application form.

Benefits of Seeking Education Loan via Vidyalakshmi Portal

  • No hidden charges due to the transparency
  • No branch visit is required
  • Zero involvement of loan agents

Eligibility Criteria for Students

Students can avail Vidyalakshmi scheme on education loan on qualifying the following parameters:

  • They must secure admission to their preferred course after qualifying at the entrance exam conducted by the concerned institute.
  • No minimum qualifying score is there to apply for an education loan in India under the Vidyalakshmi scheme.
  • They must be the citizens of India.

Courses Covered Under this Scheme

If you pursue higher education in India, a student loan in India can be availed for the following courses via Vidyalakshmi portal:

  1. Regular diploma and degree courses such as shipping, pilot training, engineering, etc.
  2. Regular degree as well as diploma courses from IIM, IIT and other autonomous institutions.
  3. Central or State Government-approved nursing courses, teacher training courses, etc.
  4. Degree and diploma courses of professional and technical disciplines, post-graduate and graduate courses. These must be pursued from universities or colleges affiliated to UGC, AICTE, Govt., etc.

Additional Read: What are various Education Loan Schemes?

If you enrol in a foreign institute, the following courses are covered:

  1. Courses which are conducted by Certified Public Accountant (CPA) in the USA, Chartered Institute of Management Accountants (CIMA) in London, etc.
  2. MBA, MCA, MS and such other job-oriented diploma and degree courses from reputed educational institutions overseas.

In case you need a higher amount of funding, Bajaj Finserv’s Loan Against Property for Education can be your choice. Our study loan on property offers up to Rs. 3.5 Crore to cover all expenses adequately.