Himachal Pradesh Govt. is Offering 1% Interest on Education Loans for Students; Details Here

Sukhvinder Singh Sukhu, the Chief Minister of Himachal Pradesh, has decided to provide education loans to students at a 1 percent of interest.

On Monday, April 10, 2023, the announcement was made. This decision has been taken to aid poor students and motivate them to pursue higher education and professional studies. The scheme will be launched within this financial year.

Mukhyamantri Vidyarthi Protsahan Yojana

• According to the information, the government has decided to release Rs 200 crores for underprivileged children under this scheme.

• Students will be able to use the loan to pay for tuition, books, accommodation, and other educational costs.

• A wide range of professional courses are covered, such as medical, engineering, management, and PhD courses at ITIs, polytechnics, nursing schools, and general nursing and midwifery programs.

What did CM say?

The statement stated, "The main purpose of the scheme is to assure that no poor child in the state is deprived of higher and professional education in want of financial resources."

Encourage Girl Students Education

According to Sukhu, a 1% interest rate is intended to generate a sense of responsibility among beneficiaries so that they are encouraged to succeed.
In addition to this, 20,000 meritorious girl students studying in government institutions will be given a subsidy of Rs 25,000.

The move will motivate girl students to pursue higher education, as well as help in developing Himachal Pradesh as a "Green State".