New Delhi, August 29, 2023 – Dr. Y.S. Parmar Vidyarthi Rin Yojna – The Government of Himachal Pradesh has introduced a scheme that offers education loans up to ₹20 lakh at a nominal interest rate of 1% to the students of the state.
Dr. Y. S. Parmar Vidyarthi Rin Yojna will ensure that youths of the State of Himachal Pradesh are not denied access to higher or professional education due to financial constraints, Chief Minister Sukhvinder Singh Sukhu said in a statement on August 28, 2023.
Under this scheme, students with an annual family income of less than ₹4 lakh are eligible for education loans to pursue their diploma and degree programmes in professional and technical education.
This article shares details on Dr. Y.S. Parmar Vidyarthi Rin Yojna, including eligibility criteria, benefits, and other relevant information.
Dr. Y. S. Parmar Vidyarthi Rin Yojna – General Overview
| State | Himachal Pradesh |
| Name of the Scheme | Dr. Y. S. Parmar Vidyarthi Rin Yojna |
| Provider | Department of Higher Education, Government of Himachal Pradesh |
| Beneficiaries | Students of Himachal Pradesh |
| Maximum Loan Amount | ₹20 lakh |
| Interest Rate | 1% |
| Eligible Courses | Professional/Technical |
| Official Website | hpepass.cgg.gov.in |
Dr. Y. S. Parmar Vidyarthi Rin Yojna – Eligibility Criteria
- The applicant must be a native of the State of Himachal Pradesh.
- The applicant’s annual family income must be less than ₹4 lakh.
- Applicants must have secured 60% marks in the previous class.
- Applicants must be under 28 years of age on the date of registration and admission.
Dr. Y. S. Parmar Vidyarthi Rin Yojna – Benefits
- Under this program, eligible students can avail education loans up to ₹20 lakh from any scheduled bank within the State of Himachal Pradesh.
- These loans are intended to cover various expenses including accommodation, tuition fees, textbooks, and other related costs.
Dr. Y. S. Parmar Vidyarthi Rin Yojna – Important Points
- The chief minister has announced the establishment of a corpus to be overseen by the Deputy Commissioner of the district. This fund will address concerns where immediate deposits are necessary, but banks require time to release the first instalment of money.
- The official statement also outlined the registration process for students willing to gain admission in their preferred educational institutions.
- Students must register on the Higher Education Department’s ePASS portal at hpepass.cgg.gov.in and upload the necessary documents as per the scheme’s requirements.
- This scheme applies to diploma or degree programs in the following professional and technical fields:
- Engineering
- Medicine
- Management
- Paramedical
- Pharmacy
- Nursing
- Law
- Technical courses from Industrial Training Institutes (ITIs)
- PhD programs from recognised educational institutions and universities
- The chief minister also highlighted the plans on developing a mechanism for regular evaluation of the scheme’s outcomes, ensuring its effectiveness, and monitoring the progress of the students.
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Also Read: HP Scholarship 2023 – Scholarships for Himachal Pradesh Students
Dr. Y. S. Parmar Vidyarthi Rin Yojna – Frequently Asked Questions (FAQs)
Q: What is Dr. Y. S. Parmar Vidyarthi Rin Yojna?
Ans: Dr. Y. S. Parmar Vidyarthi Rin Yojna offers education loans up to ₹20 lakh at a nominal interest rate of 1% to the students of Himachal Pradesh.
Q: Who is eligible for Dr. Y. S. Parmar Vidyarthi Rin Yojna?
Ans: Eligible applicants must be a native resident of Himachal Pradesh and their family annual income must be less than ₹4 lakh. Applicants must have secured 60% marks in the previous class to be considered eligible. Besides, the applicant must be under 28 years of age on the date of registration and admission.
Q: What are the benefits of Dr. Y. S. Parmar Vidyarthi Rin Yojna?
Ans: Under Dr. Y. S. Parmar Vidyarthi Rin Yojna, eligible students can avail education loans up to ₹20 lakh from any scheduled bank within the State of Himachal Pradesh. The education loan intends to cover various expenses, including accommodation, tuition fees, textbooks, and other related expenses.
Q: How can a student from Himachal Pradesh apply under this scheme?
Ans: A student from the State of Himachal Pradesh must register on the Higher Education Department’s ePASS portal at hpepass.cgg.gov.in and upload the necessary documents as per the requirements.