PM Vidyalaxmi scheme will ease financial barriers to higher education: Students

The Union Cabinet has approved a new scheme - PM Vidyalaxmi, aimed at providing financial support to meritorious yet needy students in pursuing higher studies at top-ranking institutions across the country.

The scheme offering collateral-free and guarantee-free loans to students have left the latter happy and elated. Many of them spoke to IANS and shared how this will remove the obstructions and financial constraints that usually in their way in pursuing higher education. They expressed optimism over the scheme, with many praising Modi government for the initiative.

Ayushi Singh, a student at Jamia Millia Islamia, described the scheme as a significant step toward women's empowerment.

"I have just read about the Vidya Lakshmi scheme launched by PM Modi. This scheme opens up opportunities for girls who may otherwise be denied education due to financial issues. It encourages families to educate their daughters and gives them a chance to progress," she said.

She further highlighted that the scheme, offering up to Rs 7.5 lakh in financial aid, would help students to explore more career options.

"This is a substantial amount, and past governments may have offered similar schemes, but none quite at this scale. Such scholarships not only propel students forward but also instill courage to make a difference in society," she added.

Sahil Alam, another student at Jamia Millia Islamia, pursuing a BA (Hons) in Mass Media, emphasised the scheme's impact on middle-class families.

"This scheme provides critical support for children from poorer backgrounds who struggle to pay for their education. Many families can't afford schooling, especially when children have to work to support themselves. It's commendable that the government has included special provisions for economically disadvantaged students, encouraging them to pursue their studies and contribute to the nation," he said.

Himang Dwivedi, a second-year BA (Hons) Mass Media student at Jamia Millia Islamia, echoed these sentiments, noting the scheme's focus on students from economically weaker sections, particularly girls.

"Under the Vidya Lakshmi scheme, all girls and students from underprivileged families will have greater access to education. The government's provision of Rs 7.5 lakh per household is invaluable in helping people afford the high tuition fees of private institutions where government seats are limited," he remarked.

"This scheme aims to reach every household in need, especially where girls often face educational barriers due to financial constraints. It will ensure more students can pursue education without worrying about financial obstacles," Dwivedi added.

Kushaal Kumar Sharma, a student from Ramanujan College, commended the Rs 7.5 lakh loan amount, calling it "a major relief for students who cannot afford higher studies."

"Education is crucial, and this scheme is a great initiative to help those who face financial challenges pursue their dreams," he added.

The Vidyalaxmi scheme, by easing financial constraints, seeks to empower students from all backgrounds to pursue higher education, thus laying the foundation for a more educated and empowered future for country's youth.