Shimla
The Himachal Pradesh government expanded the ‘Dr YS Parmar Vidyarthi Rin Yojna’ on Sunday to include overseas education. This initiative aims to help meritorious students from economically weaker sections pursue higher studies abroad without financial barriers. A detailed standard operating procedure (SOP) will be issued by the education department soon.
The scheme, launched for the financial year 2023-24, offers educational loans at a one percent interest rate to eligible Himachali students. Students from families with an annual income below Rs. four lakh are eligible for loans covering tuition fees, boarding, lodging, and other costs, with a maximum amount of Rs. 20 lakh available from any scheduled bank in the state.
To prevent delays in loan disbursement, a fund will be maintained at the district level, managed by the Deputy Commissioner, to release the first installment when needed. The scheme covers diploma and degree courses in various fields, including engineering, medicine, and law. A minimum of 60 percent marks in the previous class is required, and students must be under 28 years old at admission.
To improve the implementation of the scheme and address any issues, a grievance redressal officer will be appointed. This initiative aims to ensure that all youth have the opportunity to fulfill their potential and achieve their educational goals.
