Lok Sabha Question No. 3680 (UNSTARRED), answered on 2025-08-11
Subject: CIBIL Score Criteria for PM-Vidyalaxmi
Ministry: EDUCATION
Asked by: Shri Dileshwar Kamait

## GOVERNMENT OF INDIA MINISTRY OF EDUCATION DEPARTMENT OF HIGHER EDUCATION

## LOK SABHA

## UNSTARRED QUESTION NO. 3680

ANSWERED ON- 11/08/2025

## CIBIL SCORE CRITERIA FOR PM-VIDYALAXMI

## † 3680. SHRI DILESHWAR KAMAIT:

- Will the Minister of EDUCATION be pleased to state: (a) the name of States in which PM- Vidyalaxmi Yojana has been launched; (b) the effective measures taken by the Government to extend this scheme to students outside top institutions, particularly in the State of Bihar; (c) the time by which the scheme is likely to be fully operational; (d)  whether  the  Government has provided  any interim support to students currently  facing financial constraints and if so, the details thereof; (e) whether the Government has any plans to relax the criteria and conditions regarding CIBIL score for poor students to avail loans under the said scheme, if so, the details thereof; (f) the manner in which the Government ensures sustainability of the scheme; and (g)  whether  the  Government  has  any  roadmap  to  accommodate  the  increasing  number  of
- beneficiaries and if so, the details thereof?

## ANSWER

## MINISTER OF STATE IN THE MINISTRY OF EDUCATION (DR. SUKANTA MAJUMDAR)

(a) to (c):  The Pradhan Mantri Vidya Laxmi (PM Vidyalaxmi), a new central sector scheme has been launched on 6th November 2024. The main objective of the scheme is to ensure that no student is denied the opportunity to pursue higher education due to financial constraints. Under the scheme, collateral-free and guarantor-free education loans are provided to students of  all  the  states  and  union  territories  who  get  merit-based  admission  in  Quality  Higher Education  Institutions  (QHEIs)  and  desirous  of  availing  education  loan  to  pursue  higher education from these QHEIs. The NIRF 2024 ranking has been considered to prepare the list of QHEIs for academic year 2024-25 based on the following criteria:

- Top 100 ranked Higher Education Institutions (HEIs) in the overall, category-specific or  domain-specific  rankings  in  latest  list  of  NIRF  published  by  the  Ministry  of Education; plus
- Top 200 ranked HEIs under the governance of state/UT governments in the latest list of NIRF published by the Ministry of Education; plus
- all remaining HEIs under the governance of Government of India.

(d) : Under the PM-Vidyalaxmi Scheme, for students with annual family income up to ₹8 lakhs, the scheme provides 3% interest subvention on loans up to ₹ 10 lakhs. Up to one lakh fresh students not getting any other scholarship or interest subvention on education loan will get this benefit. Interest subvention benefit is provided during moratorium period, i.e., course period plus one year. Total outlay kept for interest subvention from 2024-25 to 2030-2031 is ₹3,600 crore.

Further,  the  Department  of  Higher  Education  is  implementing  the  PM-USP Central Sector  Interest  Subsidy  Scheme  (PM-USP  CSIS).  Under  the  PM  USP-CSIS  Scheme,  full interest subvention is provided to all students who are pursuing technical/professional courses from approved National Assessment and Accreditation Council (NAAC)  accredited HEIs/National  Board  of  Accreditation  (NBA)  accredited  courses  and  whose  annual  family income is up to ₹ 4.5 lakhs for loans up to Rs. 10 lakhs, during the moratorium period. There is no upper limit on number of student beneficiaries for this Scheme.

Moreover, under the Pradhan Mantri Uchchatar Shiksha Protsahan Credit Guarantee Fund Scheme for Education Loans (PM-USP CGFSEL) of the Central Government, credit guarantee is provided for education loans sanctioned up to ₹ 7.5 lakhs. The guarantee cover is up to 75% of outstanding default. Further, under the model education loan scheme of the Indian Banks' Association, the repayment period for education loan is up to 15 years after moratorium period (course year plus one year).

Thus, PM Vidyalaxmi, PM-USP CSIS and PM USP CGFSEL schemes, along with the various scholarships together provide holistic support to all deserving students to pursue higher education in quality HEIs and technical/professional education in approved HEIs.

(e) to (g): CIBIL score of students is not a criterion for sanction of education loans under the PM Vidyalaxmi scheme. Further, all students who get merit based admission in the quality

HEIs and desirous of availing education loan for pursuing higher education from the quality HEIs can avail the same. There is no upper limit on the number of such education loans.

A dedicated online platform, the PM Vidyalaxmi portal https://pmvidyalaxmi.co.in has been  developed  on  which  students  can  apply  for  the  education  loan  as  well  as  interest subvention, through a simplified application process to be used by all banks. This portal has started operating from 25 th February 2025.

The  PM  Vidyalaxmi  scheme  has  been  launched  recently.  To  improve  awareness,  the scheme  guidelines  have  already  been  provided  in  the  website  of  Ministry  of  Education  at https://www.education.gov.in/en/scholarships\_education\_loan. Further, the Indian Banks Association has circulated the guidelines to all the member banks for use of their branches. Multi-lingual  pamphlet  of  PM-Vidyalaxmi  has  been  developed  and  uploaded  in  the  PM Vidyalaxmi portal. All QHEIs have been requested to download and distribute the same to their students.

All  QHEIs  have  been  requested  to  prominently  display  the  PM-Vidyalaxmi  Scheme publicity  materials  within  their  campuses  and  actively  publicize  the  dedicated  call  centre number 1800-1031 for the PM-Vidyalaxmi Scheme.

The Department of Higher Education (DHE) and the Department of Financial Services (DFS) monitor the progress of education loan submission, processing and disbursement on a regular basis together with the Indian Banks Association (IBA) and banks. Further, the DHE in  coordination  with  DFS  conduct  meetings  with  QHEIs,  banks  and  IBA  for  smooth implementation of the scheme on a regular interval. Workshops are also organized with the QHEIs in collaboration with the University Grants Commission, DFS, IBA and the banks to increase awareness among the QHEIs and students.

*****